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Taj parent expands partnership with Ambuja Neotia Group for 15 new hotels
These 15 new sites will be a combination of greenfield, brownfield, and conversion projects, and are spread across the states of West Bengal, Sikkim, and Himachal Pradesh. The projects are expected to be completed in the next three to seven years.
This capital-light arrangement will grow the partnership between the groups to over 40 hotels. To be sure, in November, IHCL had acquired a majority stake in the Ambuja Neotia Group's Rajscape Hotels, which manages the Tree of Life Hotels and Resorts brand.
The two groups currently operate 24 hotels, with four more—including a Taj Ganga Kutir Resort & Spa in Raichak and a Tree of Life in Sirmaur, Naldehra, and Shivpuri—expected to be operational within the next year.
The 15 new properties include a Taj resort in Sunderban, Darjeeling, Shimla, and Rabong, SeleQtions hotels in Kolkata and Siliguri, and a Tree of Life in Lataguri. Of these, four are currently under construction and will be built over the next three years.
A few select projects will also feature Taj-branded villas in Darjeeling, Sikkim, Lataguri, and Raichak.
"We are present in most of the geographies, but there is an undersupply in the north-east. While we continue to remain strong there, we want to grow to a 25-hotel portfolio in the region and will reach 30 hotels by 2030. We are delighted to extend our partnership with the Ambuja Neotia Group, known for their luxury hospitality developments showcasing the spirit of this region," said Puneet Chhatwal, managing director and chief executive officer at IHCL.
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