Thursday 10 July, 2014 - Sydney
Samsara Properties Limited, an offshore wholly owned subsidiary of The Indian Hotels Company Limited, announced today the execution of a share sale deed for the divestment of 100% of its shareholding in BLUE Sydney, A Taj Hotel, in favour of Australia Hotels & Properties Limited. The buyer is the Hong Kong based Hind Hotels & Properties Group, which operates hotels and serviced apartments under the Ovolo brand. Subject to fulfillment of certain conditions, the transaction is scheduled to be completed by October 31, 2014. The transaction value is $AUD 32 million.
The divestment has been undertaken as part of the Taj Group's strategy to focus on markets which are core to Group's operations, and to create liquidity to fund the company's ongoing expansion in such markets. Asia Pacific and particularly China have been identified as targets for expansion.
The sale of BLUE Sydney, A Taj Hotel does not reflect any diminution of the group's interest in the Australian market; Australia is the fifth largest source market for Taj Hotels Resorts & Palaces, and outbound Australian business in particular remains a high priority for the Group.
Taj Hotels Resorts and Palaces is proud of its record in managing BLUE Sydney, A Taj Hotel. The property was acquired by the Taj Group in 2006 and has operated with excellent occupancy rates, as well as accumulating a raft of industry awards, including the following:
2014 BLUE Sydney awarded by Tripadvisor a Certificate of Excellence.
2014 WaterBar nominated at Virtuoso Travel Week for Best of the Best. Winner announced in August 2014.
2014 BLUE Sydney is announced as a Finalist in the 2014 Luxury Travel magazine Gold List Awards, category - Best Australian Hotel.
2014 BLUE becomes GOLD rated EarthCheck certified.
2013 BLUE becomes a Virtuoso Member Hotel after 6 years of petition, confirming its place as one of Sydney's finest hotels.
2013 Certificate of Excellence for BLUE Sydney from TripAdvisor, placing BLUE in the top 10% of businesses globally.
2012 Tourism Accommodation Australia (NSW) Awards for Excellence - PR and Sales & Marketing, Employee of the Year - 'Highly Commended' - Ben Johnson.
2012 WaterBar wins Bar of the Year at the Tourism Accommodation Australia (NSW) Awards for Excellence.
2012 BLUE Sydney features at No. 4 in the Luxury Travel Gold List in the category of Best Australian Hotel.
2012 BLUE Sydney features at No. 3 in the Luxury Travel Gold List in the category of Best Australian boutique property, villa or lodge.
2012 BLUE Sydney features at No. 11 in the Top 25 Trendiest Hotels in South Pacific, Peoples Choice Awards, TripAdvisor 2012.
2012 BLUE Sydney features at No. 9 in the Top 25 Trendiest Hotels in Australia, Peoples Choice Awards, TripAdvisor 2012.
2012 Conde Nast UK, GOLD LIST includes BLUE Sydney.
2011 Australian Hotels Association award for Excellence - WaterBar, BLUE Sydney.
2010 Conde Nast Readers Choice Award selects BLUE as the 'Top Hotel in Oceania.'
2010 World Travel Awards London - BLUE Sydney awarded 'Australia's Leading Boutique Hotel'.
BLUE Sydney, A Taj Hotel has also been a leader in environmental stewardship and sustainable hospitality practises, and in February this year, the hotel was awarded EarthCheck Gold Certification, making it the only hotel property in Australia to have ever achieved gold status.
Says Raymond Bickson, Managing Director & Chief Executive Officer of The Indian Hotels Company Limited, "We are committed to the sale of BLUE Sydney to its new owners, Hind Hotels & Properties Group. The hotel has a wonderful track record of high occupancy, a stellar list of industry awards and has set new Australian benchmarks for environmental practices. This decision is in line with our Group strategy to focus on key markets for now, that are critical to the Groups operations"
For further information on BLUE Sydney, A Taj Hotel, please contact:
Mob: 0411 623 423