Indian Hotels Company gains on signing Taj Hotel Hessischer Hof in Germany
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The Indian Hotels Company is currently trading at Rs. 426.45, up by 2.75 points or 0.65% from its previous closing of Rs. 423.70 on the BSE.
The scrip opened at Rs. 428.95 and has touched a high and low of Rs. 431.95 and Rs. 425.50 respectively. So far 111489 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 436.25 on 07-Sep-2023 and a 52 week low of Rs. 280.20 on 27-Jan-2023.
Last one week high and low of the scrip stood at Rs. 433.75 and Rs. 407.75 respectively. The current market cap of the company is Rs. 60722.08 crore.
The promoters holding in the company stood at 38.19%, while Institutions and Non-Institutions held 45.82% and 15.99% respectively.
Indian Hotels Company (IHCL) is stepping into Continental Europe with the signing of Taj Hotel Hessischer Hof at Frankfurt in Germany. Frankfurt’s landmark hotel, after extensive renovations will join the illustrious list of iconic Taj hotels around the world. Signed under an operating lease arrangement, it will reopen in 2025. The hotel was built in 1952 on a former city palace site, owned and operated by the Prince of Hessia as a member of The Leading Hotels of the World. The 134-room Taj Hotel Hessischer Hof is centrally located in close proximity to the Frankfurt trade fair grounds - one of the largest conventions and meeting spaces in Germany.
As part of extensive refurbishment, the new design will feature modern accents while at the same time preserving the architectural integrity of the historical structure. After making its mark in London, Cape Town and Dubai, Bombay Brasserie, the restaurant famed for its eclectic Bombay and Indian cuisine, will enter Frankfurt. The Chambers, India’s first exclusive business club will have a new outpost at Taj Hotel Hessischer Hof. Guests can relax at the legendary Jimmy’s Bar with its fabled character. Its elegant banqueting spaces are perfect for business meetings and its recreational facilities include a spa, fitness area and a winter garden.
Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia's largest and finest hotel company. It operates in the luxury, premium, midmarket and value segments of the market.
