Reflects strategic domestic expansion to drive growth momentum
Mr. Puneet Chhatwal MD & CEO, IHCL with Mr. Vinod Kakade of the Kakade Group
Mumbai, April 24, 2018: In its pursuit of Aspiration 2022, The Indian Hotels Company Limited (IHCL) is pleased to announce its entry into Lonavala.The company signed a new Taj hotel through a management contract with Wilds and Water Developers, a part of the Kakade Group. The announcement strengthens its position of having the largest number of leisure hotels in the country.
Suma Venkatesh, Executive Vice President, Real Estate & Development, IHCL said, “We are delighted to partner with the Kakade Group in bringing our latest leisure offering to Lonavala. Consolidating our presence across key leisure circuits has always been our focus and Lonavala presents the right opportunity as a getaway for travellers in and around Mumbai and Pune.”
The Taj branded resort will be conveniently located with easy access through the Mumbai - Pune expressway. Nestled along the serene waters of Lake Pawana, amidst the picturesque hills, the sprawling address will span over 30 acres of land and include 150 guest rooms, an all-day diner, a specialty restaurant and a bar.
Mr. Vikram Kakade, of the Kakade Group said, “We are proud to partner with the iconic Taj brand and bring their famed hospitality to Lonavala. With this partnership we (along with our development partner, Mr. David Lazarus), aim to create a first-of-its kind Taj resort in Maharashtra, and provide a unique experience to our customers.”
Lonavala is a tranquil small town that has emerged as a leading tourist destination in Maharashtra. A scenic hill station, it has for years been a favourite of travellers from Mumbai and Pune.
About Kakade Group
The Kakade Group is one of the leading construction & development groups in Maharashtra, with over 25 years of experience in the construction & development space. The Kakade Group is involved in numerous upcoming projects such as hospitality ventures, malls, housing, and township developments.
About The Indian Hotels Company Limited
The Indian Hotels Company Limited (IHCL) and its subsidiaries, bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - the Taj Mahal Palace, in Bombay in 1903 and currently operates 145 hotels globally across 4 continents, 11 countries and 72 locations.
The Indian Hotels Company Limited (IHCL) is amongst South Asia’s largest Indian hospitality company by market capitalization. It is primarily listed on the BSE and NSE.
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