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Indian Hotels acquires stake in US hotel chain

September 18, 2007

Tata’s controlled, Indian Hotels [owners of Taj Brand] have bought stake in Orient Express. The acquisition was done through its wholly owned subsidiary Samsara Properties. The Indian Hotels management plans to discuss a global alliance with Orient-Express to leverage each other’s strengths. The company has started talks with Orient-Express for a partnership to expand its network globally, the reports suggested.

Orient Express currently owns or has investments in 49 businesses: 39 highly individual hotels, two restaurants, six tourist trains (including Venice Simplon-Orient-Express, British Pullman, and Eastern & Oriental Express) and two river cruise operations, located in 25 countries worldwide.

The board of Indian Hotels last month approved a plan to raise Rs 1,920 crore by selling securities to existing shareholders for funding new properties.

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