The Icon Gets More Iconic!
Indian Hotels Company (IHCL) has completed the renovation of the Taj Mahal hotel in Delhi. This iconic Mansingh Road property was recently in the eye of the storm witnessing a heady auction conducted by NDMC. IHCL retained the right to run the hotel in Lutyens' Delhi for another 33 years after a 2018 NDMC public auction for the property. It has since spent close to `250 crore in refurbishing the hotel that completes 45 years. Once won again, the Taj Group got down to some serious business, preferring not to shut it down, neither knocking it down, but refurbishing it one step at a time. Re-imagining it, like the group has been doing its entire portfolio! Not surprising the company turned out a profit exceeding 1000 crores last financial, a figure that had never been imagined before in the history of Indian hospitality. Today, the Taj Mansingh has been fully renovated, it has bounced back to the same levels of revenues and profits that were clocked earlier. And, this is despite the l