Indian Hotels Co Ltd Company History

The Company was incorporated on 1st April 1902 and till 1965 owned

and managed two hotels, viz., the Taj Mahal Hotel and the Green's

Hotel, with a view to construct a modern and much larger hotel on that

site. The Company started the business of hotel, restaurant, cafe,

tavern, beer house, refreshment room & loading house keepers. The

Company owns two other properties known as "Willington Mews" and

"Mandalik House" in Mumbai which are used for parking cars and

accommodating some staff members.

The hotel under the name and style Taj Intercontinental Hotel was

formally opened on 1st August, and progressively commissioned

thereafter.

Taj Investment & Finance Co. Ltd., became a subsidiary of the Company

with effect from 7th December. The Company holds the entire capital of

2,46,110 No. of equity shares of Rs 10 each of this subsidiary.

The Company finalised negotiations with the Government of Sri Lanka

for putting up, in the first phase, a 400 room hotel of international

standards at Colombo, to be owned by Taj Lanka Hotels, Ltd.

20,16,000 Bonus Equity shares issued in prop. 4:5.

The Company started providing technical know-how and consultancy

services in the operation of a 186 room hotel known as Taj Sheba Hotel

at Sanaa, capital of North Yemen Republic.

The Government of India approved the joint venture project and

permitted the Company to invest in it an amount equivalent to U.S. $4

million partly by way of subscribing to shares in cash and partly by

way of earnings from export of Indians goods like furniture, fittings,

carpets and hotel operating equipment.

The Company borrowed an offshore loan of U.S. $1.50 million from the

Hongkong & Shanghai Banking Corporation for the purpose of making the

cash investment in the equity share capital of Taj Lanka Hotels, Ltd.

The Company undertook to set up a hotel of international standards at

Calcutta. The hotel was commissioned during 1988-89.

18,14,400 Bonus Equity shares issued in prop. 2:5.

Delhi Development Authority (DDA) accepted the Company's offer of

collaboration for the construction of a 500 room hotel in Delhi for use

by the delegates and visitors to the ASIAD '82 to be conducted towards

the end of the year.

In the second quarter of the year, the Company made a

rights-cum-public issue of secured convertible bonds of the total value

of Rs 15 crores. Each bond of Rs 100 comprised a convertible portion

of Rs 25 and a non-convertible portion of Rs 75. It was proposed to

increase the rate of interest to 16% and to extend the redemption date

to 15th July, 1999.

55,000 - 9.3% Preference shares redeemed at par on 31st December.

The Company signed an agreement with Spencer International Hotels,

Ltd. a wholly owned subsidiary of Spencer and Company, Ltd., to get

licence to operate Connemara Hotel at Chennai, West End Hotel at

Bangalore and Savoy Hotel at Ootacamund.

During December, the Company issued 12,00,000-15% secured

non-convertible debentures of Rs 100 each at par aggregating Rs 12

crores on `Rights' basis. These debentures were issued under two

schemes viz., Non-cumulative interest payment and Cumulative interest

payment. These debentures are redeemable at a premium of 5% on the

expiry of seven years from the date of allotment.

15,00,000 No. of equity shares issued on 1.8.1985 at a premium of Rs

15 per share on part conversion of 13.5% bonds.

The Company had taken over Hotel Chandela at Khajuraho on leave &

licence basis with effect from 18th December.

The Company commissioned the Jai Mahal Palace Hotel at Jaipur during

the year with 103 rooms.

During April-May, the Company offered 15,70,000-12.5% convertible

debentures of Rs 135 each to equity shareholders as rights in the

proportion 1 debenture for every 5 equity shares held. This issue was

over-subscribed and additional 3,92,500 debentures were allotted to

retain over-subscription. Thus a total of 19,62,500 debentures were

allotted to equity shareholders on 15th June, 1987. Another 82,000 -

12.5% convertible debentures were offered to employees of the Company

during April-May 1987. Only 43,621 debentures were taken up. The

Balance of 38,379 debentures were allowed to lapse.

As per the terms of debenture issue, a portion of Rs 35 of each

debenture was compulsorily converted into one equity share of Rs 10

each at a premium of Rs 25 per share on 15th December, 1987. The

non-convertible portion of Rs 100 of each debenture would be redeemed

at par at the end of seven years from the date of allotment.

20,06,121 No. of Equity shares issued on 15.12.1987 at a premium of

Rs 25 per share on part conversion of 12.5% debentures.

An agreement was signed with the USSR state committee for foreign

tourism to establish a joint venture to start hotels in Tashkent,

Samarkand and Bukhara.

It was also proposed to start another joint venture in India with

Club Mediteranee Group of France known as `Club Med', to set up beach

resorts in India.

In addition, it was also proposed to set up a joint venture with

Maharashtra State Tourism Development Corporation to establish beach

resorts and hotels in Government owned lands in Maharashtra to be

operated by the Company.

49,28,261 bonus equity shares were issued in prop. 1:2.

The hotel operations were adversely affected due to political

disturbances within the country and abroad.

49,28,261 Rights Equity shares issued (Prop. 1:3, Prem. 450) Another

2,46,413 shares of Rs 10 issued at a prem. of Rs 50 per share to

employee (all were taken up).

The 110 room Taj Luxury Hotel at Lucknow was commissioned. The hotel

was promoted by Taj Kerala Hotels and Resorts Ltd. at Kumarakom in

Kerala.

A joint venture Company with Government of Karnataka viz. Taj

Karnataka Hotels & Resorts, Ltd., was incorporated for undertaking

development of tourism. Taj Mumbai would operated all the hotels that

would be commissioned by the new Company.

Another joint venture with Oriental Hotels Ltd., viz "Taj Chennai

Flight Kitchen Pvt. Ltd., Singapore, Malaysian Airline System Berhad,

Kayla Lumpur are the foreign partners. The joint venture would set up

an Air Catering Unit initially in Chennai to be operated by the

Company.

The company issued 51,95,783 GDRs at a price of US $ 16.60 per GDR.

Including 15% retention of oversubscription. The 13.5% secured

non-convertible bonds of Rs 75 each issued on 15th July 1982 and the

15% secured non-convertible debentures of Rs 100 each issued on 1st

April, 1982 were due for redemption on 15th July, 1992 and 1st April,

1992 respectively.

199,59,456 bonus equity shares issued in prop. 1:1.

Two new hotels of associated companies were commissioned viz., a 50

rooms Taj Garden retreat at Varkala (new Trivandrum) located on a cliff

overlooking the sea and a 100 rooms business class hotels, Taj

residency at Nashik, Maharashtra.

The Company undertook to set up (i) Two new luxury hotels in Mumbai

and one in Chennai; (ii) Land admeasuring 11 acres was acquired at

Calcutta for setting up a hotel of International Standard; (iii) Taj

residency in Calicut scheduled to be opened in 1996-97.

The Company has entered into a business profit sharing agreement with

H.E.H. Nizam of Hyderabad to develop Falaknuma Palace as a 5 Star delux

Heritage Hotel.

The Company executed a Memorandum of Understanding with Rajah Muthiah

Chettiar Charitable and Educational Trust for the construction of a

first class international standard hotel on an area of 5 acres which is

located in Adyyar in the vicinity of Chettinad Palace.

The Company was declared the successful bider for the MMRDA's

Hotel-Cum-Convention and Exhibition Centre Project at International

Finance-Cum-Business Centre, Bandra-Kurla Complex, Mumbai.

The Company entered into a technical assistance agreement with

Covelong Beach Hotel (India) Ltd. which was putting up a beach resort

to be known as "Fishermen's Cove" at Covelong, about 20 miles from

Chennai. This hotel was to have about 80 rooms with all related

facilities.

KTC Hotels Ltd. became a wholly owned subsidiary of the Company. KTC

is owning a newly constructed Taj Residency Hotel at P.T. Usha Road,

Calicut.

The Reserve bank of India (RBI) has condoned Indian Hotels Limited

(IHL) for certain financial transactions which were conducted by its

international subsidiary.

The Indian Hotels Company Ltd (IHCL) has formally called off its

proposed Rs.1,000 crore hotel-cum-convention centre project at the

Bandra-Kurla complex in Mumbai.

The Indian Hotels Company or the Taj Group of Hotels has launched its

second major organisational restructuring exercise.

The documents also reveal that on the same day (July 5, 1974), ARRA

entered into a technical and consultancy services collaboration with

IHCL.

Indian Hotels Company Ltd, an off-shoot of the Tata Group which owns

the Taj Group of Hotels, has signed a joint venture with the Pune-based

Dynamic Logistics for setting up a 125-room five star hotel in Pune

christened `Taj Residency.

Indian Hotels has become the first hospitality company to begin

offering stock options to its top employees.

Taj Palace Hotel was the only Indian hotel to win the `Best Business

Hotel in Asia 1998' award.

IHCL, is 100 per cent subsidiary of Taj International hotels (Hong

Kong) Ltd.

Indian Hotels & Health Resorts (IHHR) is setting up a destination

resort and spa called `Ananda-in the Himalayas', in Narendra Nagar near

Rishikesh.

The company, set up to develop health resorts, spas and city centre

luxury boutique hotels in India and the rest of south-east Asia, is

planning to set up a series of destination spas on the lines of the

famous Chiva Som of Thailand.

In one of the major developments in the history of Indian hospitality

industry, Indian Hotels Company Ltd (IHCL), part of the Tata group, has

entered into a strategic business alliance with the Hyderabad-based GVK

group to consolidate their respective hotel businesses in Hyderabad

into a new corporate entity under the name of Taj GVK Hotels and

Resorts Ltd (Taj GVK).

The company is also looking for a joint venture with an international

partner to manage and run the group's London-based St. James Court.

Indian Hotels to buy 6.3% stake in Oriental Hotels Indian Hotels

Company Ltd (IHCL) proposes to buy 6.28 per cent stake in the

Chennai-based Oriental Hotels Ltd from its wholly-owned subsidiary, Taj

Investment and Finance Company Ltd (TIFCO).

The NCD programme of Indian Hotels Ltd. has been assigned an `LAAA'

rating by ICRA, indicating highest safety to the Rs 150-crore

non-convertible debenture programme.

The Company has introduced a Voluntary Retirement Scheme to

rationalise employee deployment and made payments aggregating to Rs.

28.80 crores upto 30th September.

The Company has to set up a joint venture with a local partner for

its foray into South East Asia.

The Company has shortlisted a strategic investor which will acquire a

50 per cent stake in Taj Asia, a newly formed holding company.

The Company introduced a Voluntary Retirement Scheme to rationalise

employee deployment and made payments/provisions, including additional

gratuity, aggregating to Rs 36.30 crores upto December 31, 2000.

Indian Hotels Company Ltd has informed BSE that the members of the

Company at the AGM held on August 31, 2001 had approved the

transfer/sale of the Air Catering Division of the Company to a

subsidiary (to be known as "Taj Air Caterers Ltd") to become the Joint

Venture Company (JVC) in which the Company would hold 51% of the equity

and the balance 49% of the equity would be held by Singapore Airport

Terminal Services Ltd (SATS).

Close on the heels of opening the Taj Palace in Dubai, the Taj group

led-Indian Hotels Company Ltd (IHCL) has signed another management

contract for a 320-room 5-star business hotel in Dubai.

The Indian Hotels Company, planned to re-enter the budget hotel categories

in Gateway Name.

Indian Hotels company has announced for the investment of $75 million to

acquire international hotel chains abroad.

Indian Hotel Company has passed a resolution to raise the long term debt funds

for the company's modernnization and expansion programme.

Indian Hotel Company has informed BSE regarding its completion of

planned borrowing programme of Rs.3000 million.

Indian Hotel Company has returned back its 8 acre hotel site in the city to

Kolkota Municipal Corporation.

Indian Hotel Company Ltd is in talks with Chaudhary group of Nepal and an African

company to make its debut in environmental/wildlife tourism in India.

Mr.Raymong Bickson has been appointed as the director on the board of the

Directors of the company.

Indian Hotel Company has informed the exchange that it had entered into an agreement

with Citibank NA, Newyork for fungibility of GDS.

Indian Hotels Company Ltd.has informed BSE that it has been decided to defer

the consideration of the item relating to sale of the two hotel properties of the company.

Indian Hotels Company has decided to sell off two of its hotel properties to its sister

firm -PIEM Hotels.

The Indian Hotels Co. Ltd has embarked upon major renovation and upgradation of its

leading leisure hotel properties in Kerals, Goa, Rajasthan and Tamil Nadu, which costs

around Rs.100cr.

Mr Shapoor Mistry, son of construction baron Pallonji Mistry, has been appointed as

non-executive director of Indian Hotel Company which owns the Taj group of Hotels.

IHCL mulls up to kick off new firm, inorder to push its spa business under the head Taj.

The Confederation of Indian Industry(southern Region) has initiated a pilot project

to encourage linkages between self-help groups and Institutional Consumers.

Board approved a resolution pertaining to sale of the hotel property of the company located at, Chiplun, Maharashtra and alteration of the object clause of Memorandum of Association of the company to permit the company to carry out the activities of Registrar and share transfer agents.

Board approved acquisition of a hotel property in US

Mr Franz Zeller, having over 30 years of experience in various international hotel operations including at Hilton International, Millenium and Copthorne International, has been appointed as Senior Vice-President & Chief Operating Officer (Luxury Hotels Division). Mr Rajiv Kaul, earlier with the Oberoi Group, has been appointed as Vice-President (Mumbai Hotels) & General Manager of the city's Taj Palace & Tower.

The third appointment was that of Mr John Gerrard, formerly an independent hotel consultant in Malaysia designated as Director (Sales & Marketing), Luxury Hotels Division. Mr Maneck Patel, Vice-President & General Manager of the Taj Palace & Tower, has been made Senior Vice-President (Business & International Consular Corps Relations).

American Express, the travel-related services company, has tied up with Taj Hotels Resorts and Palaces for a money-saver programme for holders of the AmEx corporate card.

Taj Hotels inks pact with CC Africa to promote wildlife tourism in India

Taj Hotels partners with Denis Island

Indian Hotels enters into an agreement to purchase "W" Hotel, Sydney

Taj Hotels joins hands with ETA Star Property Developers

The Companys delists shares from Madras Stock Exchange Ltd (MSE) w.e.f. October 13, 2006.

Indian Hotels to set up three hotels in S Africa

Indian hotel may tie up with EMKE Group

Company has splits its Face value of Shares from Rs 10 to Re 1

Indian Hotels buys 10-pc stake in Orient-Express for Rs 850 cr

Indian Hotels Company Ltd has informed that Mr. Anil P Goel, presently the Chief Financial Officer of the Company and Mr. Abhijit Mukerji, presently the Chief Operating Officer - Luxury SBU India, have been appointed as Whole-Time Directors of the Company with immediate effect.

Indian Hotels Company Ltd has appointed Ms. Anu Aga and Mr. Nadir Godrej as Additional Independent Directors of the Company with immediate effect.

The company has issued rights in the ratio of 1:5 at a premium of Rs. 69/-Per Share.

Dun & Bradstreet - American Express Corporate Awards 2007 - India's Top 500 Companies 2007 - in the "Hotels" category - The Indian Hotels Company Ltd.

Indian Hotels launches the Gateway Hotel Chain

Apart from featuring in the Guardian Newspaper's Top 10, the Bombay Brasserie has also been awarded during the British Curry Awards 2009. The Bombay Brasserie got the most coveted award of the night as the BEST RESTAURANT in London.

Jiva Spa is nominated for the award of ‘Best Spa Treatment – Ventoz’ Asia Spa India Awards held on 8th April 2009 held at Delhi

Taj Hotels Resorts and Palaces is proud to receive 'Gallup Great Workplace Award 2010'. The Gallup Great Workplace Award was created to recognize excellent companies for their extraordinary ability to create an engaged workplace culture.

Taj Hotels Resorts & Palaces wins Gallup Great Workplace Award 2010 - Among 25 distinguished organizations that will receive the 2010 Gallup Great Workplace Award at a gala during the Gallup Summit 2010, April 27-29 to be held at Omaha, Nebraska, US.

Mr. Beejal Desai has been appointed as the Vice President - Legal & Company Secretary of the Company.

Mr. Mehemosh S. Kapadia has been appointed as an Executive Director - Corporate Affairs of the Company.

Shares of Tata Group owned Indian Hotels Company tanked over 5 per cent on Bombay Stock Exchange after the company made higher-than-expected USD 1.86 billion offer to acquire the US-based international luxury hotels operator Orient Express.

Tata Group-led Indian Hotels Company Ltd (IHCL) has made an unsolicited bid of USD 1.42 billion for Orient-Express Hotels, a US-based luxury hotels group.

The Delhi Development Authority (DDA) has renewed the lease of Taj Palace Hotel for another 25 years

The Taj Mahal Hotel, New Delhi has been awarded the 2013 certificate of Excellence by Tripadvisor

Taj Falaknuma Palace, Hyderabad won 2nd place in the 'Best Overseas Holiday Hotels in Asia and India' category at the Conde Nast Traveller UK Readers' Travel Awards 2013. It also ranked 37th on the list of the 'World's Top 100 Hotel

Taj Hotels Resorts & Palaces won the award for the Best Hotel Chain in India at the UK Business Traveller Awards 2013.

The Taj Mahal Palace, Mumbai was named the Best Overseas Business Hotel with a score of 91 at the Conde Nast Traveller UK Readers' Travel Awards 2014.

Taj Falaknuma Palace, Hyderabad ranked 5th on the list of World's Best Hotels in Asia & India with a score of 89.72 at the Conde Nast Traveller UK Readers' Travel Awards 2014

Rambagh Palace, Jaipur ranked 11th on the list of World's Best Hotels in Asia & India with a score of 84.11 at the Conde Nast Traveller UK Readers' Travel Awards 2014.

Souk at The Taj Mahal Palace, Mumbai earned the Wine Spectator Award 2014

Taj Mahal Hotel, Delhi's iconic restaurant Varq has been voted 36th on the San Pellegrino's list of 50 Best Restaurants in Asia.

Indian Hotels Company has announced Rights in the Ratio of 9:40

Thai Pavilion at Vivanta by Taj - President, Mumbai, was declared the best Fine Dining Thai Cuisine Restaurant in South Mumbai at the Times Food & Nightlife Awards 2015

Konkan Cafe at Vivanta by Taj - President, Mumbai, was declared the best Casual Dining South Indian and Coastal Restaurant in South Mumbai at the Times Food & Nightlife Awards 2015

Trattoria at Vivanta by Taj - President, Mumbai, was declared the Best Casual Dining 24-hr restaurant as well as Best Italian Restaurant in South Mumbai at the Times Food & Nightlife Awards 2015

Taj Hotels Takes the Lead at the First Edition of Top Restaurant Awards by Conde Nast Traveller.

Taj Hotels Palaces Resorts Safaris, A Firm Favourite at the Conde Nast Traveller Readers' Travel Awards 2017.

Taj Hotels Palaces Resorts Safaris Launches Taj Wedding Studio.

Taj Hotels Lead Conde Nast Traveler US Readers’ Choice Awards; Only Hotel Group with Three Hotels in 50 World’s Best.

IHCL to open second Ginger Hotel in Visakhapatnam.

The Indian Hotels Company Limited (IHCL) Recognised as the Only Indian Hospitality Company to Win the Gallup Great Workplace Award.

The Indian Hotels Company Limited (Ihcl) Joins In Beating Plastic Pollution As India Hosts World Environment Day.

Indian Hotels Company Limited (IHCL) Signs New Hotel In Lonavala.

Indian Hotels Company Limited Receives The Prestigious Corporate Governance Award 2018.

The Indian Hotels Company Limited (IHCL) Partners with Tata Medical Center Ahead of World Cancer Day.

IHCL Enters a New Segment, Forays into Plantation Trails and Homestays with the Launch of Ama Trails & Stays.

IHCL Expands Its Footprint In The National Capital Region (NCR) With The Signing Of A Vivanta Hotel In Greater Noida.

IHCL Announces Partnership with Sixth A Global Car Rental Company.

IHCL Partners With Essec Business School To Launch Full Scholarships For Deserving Employees Annually.

The Indian Hotels Company (Ihcl) Wins The Golden Peacock Award For Excellence In Corporate Governance.

IHCL launches mobile application for its home delivery platform Qmin.

IHCL Partners With Globally Acclaimed Paper Moon Italy To Open Italian Restaurants.

IHCL Joins Hands With Tata Power For Solar Energy For Mumbai Hotels.

Qmin Introduces Comfort Food Menus On The Qmin App.

IHCL Expands Its Presence In West Bengal With The Signing Of A New Seleqtions Hotel.

Ihcl Partners With The Landmark Sudarshan Bharat Parikrama Rally.

IHCL announced the opening ofRaajkutir, an IHCL SeleQtions hotel in Kolkata.

Ihcl Expands Presence In Kerala With The Signing Of A Seleqtions Hotel In Bekal.

Ihcl Expands Presence In Uttarakhand With The Signing Of A New Seleqtions Resort.

Ihcl Partners With Unesco To Preserve The Intangible Cultural Heritage Of India.

Ihcl Announces A Taj Hotel And Branded Residences In Chennai.

IHCL Announces The Opening Of Taj Sawai, Ranthambore.

IHCL Expands Its Presence In Maharashtra, Signs A Seleqtions Hotel In Bandra, Mumbai.

IHCL Announces The Signing Of A New Vivanta Hotel In Talegaon, Pune.

IHCL Debuts In Itanagar, Arunachal Pradesh With The Signing Of A Vivanta Hotel.

IHCL Honoured At The Economic Times Legal Awards 2023.