| The Indian
Hotels Company Ltd (IHCL), which runs the Taj group,
recently acquired a property in Sydney for US$ 27
mn from Harilela Group of Hong Kong.
The acquisition marks the entry
of the Taj group in the Australian market.
Called the W Hotel, the 100-room
property is currently operated by Starwood Pacific
Hotels under its `W' brand. Taj Hotels is likely
to take over management from early February 2006.
IHCL has been rapidly expanding
its overseas presence, taking the Taj brand international
and creating brand awareness in its key markets.
Last year in July it acquired the management of
The Pierre Hotel in New York. This year it has entered
into management contracts for leisure properties
in Malaysia (Rebak Island Marina Berhard) and Dubai
(Taj Exotica Resort and Spa, Palm Island).
The Taj group also intends to extend
its footprint to areas in China, Russia, and Singapore
among other emerging destinations. The Australian
acquisition will take the total number of its international
properties to 18 . It now sports properties across
the US, the UK, Africa, West Asia and the Far East,
besides the 56 hotels spread across 39 Indian cities.
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