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<ul><li>Indian Hotels — the hospitality arm of the <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> that includes the <keyword id="6453087" type="COMPANY" weightage="20" keywordseo="taj-hotels">Taj Hotels</keyword> — is planning to put its properties under sale and lease back.</li><li>Six of the <keyword id="73077" type="PERSON" weightage="20" keywordseo="Ginger-Hotels">Ginger hotels</keyword> are already in line along with other hotels that come under joint ventures or associated companies.</li><li>Indian Hotels is planning on becoming ‘asset light’ as the Indian economy cools off and consumer spending is starting to slow down.</li></ul>Tata Group’s Taj Hotels aren’t going anywhere but some of its more budget offerings — like the Ginger hotel chain — are getting sold off but will be leased right back to them. Indian Hotels, the <a href="https://www.businessinsider.in/inside-taj-mahal-hotels-beautiful-and-luxurious-suites/articleshow/53549610.cms">hospitality arm</a> of the Tata Group that owns and operates the <a href="https://www.businessinsider.in/thelife/culture/the-25-best-hotels-in-india/slidelist/22493456.cms">Taj Hotels</a>, is looking to reduce its ownership of properties to 50% by 2022, as it wants to turn ‘asset light’. It has around 45 properties it owns under the Ginger brand, but wants to shed some weight by offloading 5-10% of the properties, and continue to operate it. 
 
 
 
 <div type="ExtQuote" text="As part of our Aspiration 2022 business strategy we are pursuing an asset light model. In line with this we propose to sell and lease back some of our Ginger properties in non metro towns. We will continue to operate these properties under a management contract after the proposed sale." auname="IHCL Company Spokesperson"></div>







 Retaining flagship properties The Managing Director and CEO of Indian Hotels, Puneet Chhatwal, told <a href="https://news.google.com/articles/CAIiEHD6x-q4b9jaA9jUjpJESRQqGQgEKhAIACoHCAow2pqGCzD954MDMM_yigY?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen">Bloomberg</a><a href="https://theprint.in/economy/tatas-taj-hotel-chain-to-sell-assets-to-trim-debt-as-consumer-spending-slackens/274158/amp/?__twitter_impression=true"> </a>that while the company is looking to reduce its debt by getting rid of some of the <keyword id="507551" type="PERSON" weightage="20" keywordseo="budget-hotels">budget hotels</keyword> in its portfolio — the legacy and flagship properties, namely hotels within the Taj brand, aren’t up for grabs. However, as many as six of the Ginger hotels are already a part of the sale and lease-back plans. What this mean is that Indian Hotels will be selling the properties and then taking them up on rent so that the current management stays in place. This is also true with other hotels that are a part of joint ventures or under associate companies, according to Chhatwal. On the other hand, Indian Hotels also opened up three new hotels in key strategic markets like Goa and Agra as per last quarter’s <a href="https://www.ihcltata.com/investors/">earnings report</a>. It has also launched a new hotel brand called ‘SeleQtions’ to up its brand image. SeleQtions includes named and distinctive hotels as well as Chambers — India’s most iconic business club. Cutting down on debt India’s economy is <a href="https://www.businessinsider.in/indias-growth-will-come-from-cities-as-urban-indians-will-contribute-75-of-it/articleshow/70563586.cms">cooling down</a> and consumer spending is set to fall further, which is why Indian Hotels is looking to lighten its assets. Even, <a href="https://www.businessinsider.in/the-tata-group-has-two-airlines-and-two-more-to-choose-fromair-india-and-jet-airways/articleshow/70129384.cms">Jet Airways</a> going out of business hit the Tata-owned enterprise, forcing the company to write off some of its dues. Indian Hotels has been on the path to reduce its debt for a while. It has gone from ₹31 billion in 2017 to ₹20 billion as of March 2019. Tata Group’s Indian Hotels isn’t the only brand under the umbrella that’s being revamped. Tata Steel and <a href="https://www.businessinsider.in/interesting-facts-about-ratan-tata-favorite-company-tata-motors/articleshow/69970526.cms">Tata Motors</a> are also restructuring their portfolio to gain some headwind in the European markets. Note: The article has been updated to include the statement from IHCL spokesperson to clarify that they will still be operating Ginger hotels and the headline has been changed accordingly. See also: <a href="https://www.businessinsider.in/tata-is-planning-to-open-extreme-fast-fashion-stores-just-like-zara/articleshow/69938341.cms">Cheaper by the dozen: Tata wants to bring Instagram styles to stores, instantly</a> <a href="https://www.businessinsider.in/indiainsider/tata-lic-infosys-sbi-and-mahindra-are-among-the-top-10-indian-corporate-brands/slidelist/70256778.cms">Tata, LIC, Infosys, SBI, and Mahindra are among the top 10 Indian corporate brands</a> <a href="https://www.businessinsider.in/tata-motors-stock-price-falls-after-record-loss-due-to-jlr-troubles-in-china-and-uk/articleshow/67894956.cms">Tata Motors loses over a billion dollars in market value</a>

Taj Hotels wants to turn asset light with its sell-and-lease-back strategy

<keyword id="617644" type="ORGANIZATION" weightage="20" keywordseo="Tata-Sons-Board">Tata Sons board</keyword> as well as <keyword id="6360722" type="PERSON" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> were surprised and shocked after the independent directors of Indian Hotels Company Ltd (IHCL), mainly known as <keyword id="6453087" type="COMPANY" weightage="20" keywordseo="taj-hotels">Taj Hotels</keyword>, backed <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> as their chairman. 
 In a statement to the <keyword id="43628" type="CITY" weightage="20" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> and National Stock Exchange, six independent directors of the Taj Hotels expressed "full confidence" in Mistry and said it was essential to IHCL investors and the public at large know of their views so that they could take an "informed decision" on its stock. 
 
As per reports, Tatas are going to see whether these directors gave a free and fair view or not. 
 The Tatas may question them and see if they were not lured by the <keyword id="6371516" type="CITY" weightage="20" keywordseo="Shapoorji-Pallonji">Shapoorji Pallonji</keyword> (SP) Group. 
 
The support from the six directors comes as a surprise as Tata Sons Board had removed Mistry as its chairman owing to his lack of vision and inefficiency. 
 
Mistry, scion of the SP Group, has refused to quit the boards of various group companies. 
 
"We would like to know if the independent directors noted this dichotomy and asked Mistry about the allegation that eroded market value," a source told ET.

Tatas are surprised after Taj directors express full confidence in Cyrus Mistry, may look into authenticity

New Delhi, Jan 31 () Tata group hospitality arm Indian Hotels Company Ltd (IHCL) on Friday reported a 25.37 per cent rise in consolidated net profit to Rs 213.17 crore for the quarter ended December 2019.
 The company had posted a net profit of Rs 170.03 crore for the corresponding period of the previous fiscal, IHCL said in a filing to BSE.
 Consolidated total income rose to Rs 1,408.91 crore for the quarter under consideration as against Rs 1,337.97 crore for the same period a year ago.
 "In line with Aspiration 2022, the company reported seven consecutive quarters of consistent and sustained growth," IHCL Managing Director and CEO Puneet Chhatwal said.
 The re-imagined brandscape enabled IHCL to add a record 24 hotels to the development pipeline, he added.
 The company signed 24 hotels with an inventory of over 2,800 keys in the current financial year. This includes four Taj hotels, two SeleQtions hotels, nine Vivanta hotels and nine Ginger hotels, IHCL said.
 The company managed to reduce its debt levels further and reported a net debt to EBITDA ratio of 1.76, down from 2.11 (as of FY18/19), it added.
 Incorporated by the founder of the Tata group, Jamsetji Tata, the company opened its first hotel -- The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 197 hotels, including 40 under development globally across 4 continents, 12 countries and in over 100 locations.
 Shares of IHCL closed at Rs 142.05 per scrip on BSE, up 0.89 per cent. AKT AKT ABM
ABM

IHCL Q3 net profit up 25 pc to Rs 213 cr

Nearly Rs 1,000-crore worth stock of <keyword id="6357585" type="CITY" weightage="20" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword>) are owned by the fired chairman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, according to a report by software major's annual. Mistry also owns some percentage in the other companies of the group like <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, Indian Hotels, Tata Global, <keyword id="6354310" type="CITY" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword> and <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword>, the report added. Regardless of him being fired as the chairman of Tata Sons, he still is the Chairman of these companies along with some others too. 
 
The stocks that are owned by Mistry is in addition to the 18.5% stake that his family group- Shapoorji Pallonji (SP) Group- owns in Tata Sons. The worth of SP Group’s holding on 1st November was Rs 81,140 crore. 
 SP group also holds Rs 63,158 crore worth of stakes in TCS too and that is a little over three fourth of the total company. The family group of Mr. Mistry also hold a substantial stock like Rs 7,983 crore worth stakes in Tata Motors, RS 1,500 crore worth stakes in Tata Communication, Rs 2,279 worth stakes in <keyword id="237814" type="COMPANY" weightage="20" keywordseo="Tata-Steels">Tata Steels</keyword>, 1,281 crore, Rs 1,281 crore worth stakes in Titan and Rs 1,234 crore worth stakes in Tata Power. 
 
Other than the direct holding in 15 listed companies, Tata Sons has an indirect control over many other companies in which it holds stakes through other companies. 
 <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> also holds majority stakes in many unlisted companies through Tata Sons, ehich weren’t valued. Thses include <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>, IPO-bound <keyword id="94550" type="CITY" weightage="20" keywordseo="Tata-Sky">Tata Sky</keyword>, Tata AIA <keyword id="6406875" type="COMPANY" weightage="20" keywordseo="life-insurance">Life Insurance</keyword>, Tata AIG General Insurance, Tata Mutual Fund and <keyword id="248221" type="COMPANY" weightage="20" keywordseo="Infiniti-Retail">Infiniti Retail</keyword>. 
(image: Indiatimes)

Cyrus Mistry owns Rs 1,000 crore worth TCS shares

New Delhi, Dec 19 () Shares of various Tata group companies on Thursday bounced back to close with gains of up to 3 per cent a day after an NCLAT ruling that reinstated Cyrus Mistry as chairman of main group holding company Tata Sons sent the stocks down.
 Various group companies remained under pressure till morning trade, falling by up to 2 per cent.
 However, buying emerged towards the close of trade and most of these companies settled the day with gains. 
Among the gainers, Tata Consultancy Services climbed 2.83 per cent, Tata Motors jumped 2.55 per cent, Tata Coffee rose 0.98 per cent, Tata Global Beverages 0.67 per cent, Tata Steel 0.48 per cent, Tata Metaliks gained marginally 0.17 per cent, Titan Company 0.07 per cent and Tata Communications 0.01 per cent on the BSE. 
 In contrast, Indian Hotels Company fell 2.03 per cent, Tata Elxsi went lower by 1.40 per cent and Tata Investment Corporation declined 0.43 per cent.
Various group scrips had fallen up to 4 per cent in the previous trade after the order.
In a big win for Cyrus Mistry, a company law appeals court on Wednesday restored him as executive chairman of Tata Sons and ruled that appointment of N Chandrasekaran as head of the holding company of over USD 110 billion salt-to-software conglomerate was illegal.
It, however, stayed the operation of the order with respect to reinstatement for four weeks to allow Tatas to appeal.
Mistry, scion of the wealthy Shapoorji Pallonji family, had in December 2012 succeeded Ratan Tata as the Executive Chairman of Tata Sons, a post that also made him the head of all Tata group listed firms such as Tata Power and Tata Motors. 
In an overnight coup, he was removed as the Chairman of Tata Sons in October 2016. SUM MR
MR

Tata Group stocks recover lost ground; gain up to 3 pc at close of trade

A day after resigning from the boards of six listed Tata firms, <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword> today took the legal route in his fight against the Tatas by filing suit in National Company Law Tribunal against <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword>. 
 
According to sources, Mistry's family-controlled investment firms today moved the National Company Law Tribunal (NCLT) in Mumbai against Tata Sons. 
 
The petition was against oppression and mismanagement of Tata Sons under Section 241 of the Companies Act, the the sources added. 
 
The first hearing by NCLT on the petition is slated for December 22, they said. 
 While resigning from the boards of the <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata group</keyword> firms yesterday, Mistry had launched a scathing broadside against <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> and vowed to shift his fight to a "larger platform". 
 
"Having deeply reflected on where we are in this movement for cleaning up governance and regaining lost ethical ground, I think it is time to shift gears, up the momentum, and be more incisive in securing the best interests of the Tata Group," Mistry had said. 
 
He further said that with this thought in mind, he "decided to shift this campaign to a larger platform and also one where rule of law and equity is upheld". 
 
Mistry, who had continued to be on boards of operating companies even after his ouster as chairman of the holding company Tata Sons on October 24, had again raked up "breakdown of governance" and questionable dealings including release of more funds to airline venture Air Asia under interim chairman Ratan Tata despite "findings of fraud and wrong-doing". 
 His resignation came ahead of five Tata companies -- Indian Hotels, <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword>, Tata Motors, <keyword id="45008" type="CITY" weightage="100" keywordseo="Tata-Power">Tata Power</keyword> and Tata Chemicals -- calling extraordinary general meetings starting from today to oust him as a director on company boards after Ratan Tata, a scion of the conglomerate's founding family, replaced him as chairman of the group's holding company.

Cyrus Mistry moves National Company Law Tribunal against Tata Sons

New Delhi, Dec 19 () Shares of various Tata Group companies remained under pressure on Thursday as well, falling up to 2 per cent in morning trade, after the National Company Law Appellate Tribunal (NCLAT) restored Cyrus Mistry as Tata Sons Chairman.
 Tata Power Company fell 1.62 per cent, Tata Coffee declined 1.52 per cent, Tata Metaliks dipped 1.60 per cent, Tata Steel 1.46 per cent and Tata Communications 1.23 per cent on the BSE in early trade.
 The scrip of Tata Global Beverages fell 0.89 per cent, Indian Hotels Company slipped 0.62 per cent, Titan Company 0.46 per cent, Tata Motors 0.37, Tata Investment Corporation 0.14 per cent and Tata Consultancy Services stock fell 0.10 per cent.
 However, later some of these scrips such as Tata Motors and TCS bounced back and were trading with gains.
 Various group scrips had fallen up to 4 per cent in the previous trade after the order.
 In a big win for Cyrus Mistry, a company law appeals court on Wednesday restored him as executive chairman of Tata Sons and ruled that appointment of N Chandrasekaran as head of the holding company of over USD 110 billion salt-to-software conglomerate was illegal.
 It, however, stayed the operation of the order with respect to reinstatement for four weeks to allow Tatas to appeal.
 Mistry, scion of the wealthy Shapoorji Pallonji family, had in December 2012 succeeded Ratan Tata as the Executive Chairman of Tata Sons, a post that also made him the head of all Tata group listed firms such as Tata Power and Tata Motors. 
 In an overnight coup, he was removed as the Chairman of Tata Sons in October 2016. Along with him, the entire senior management too was purged and Ratan Tata was back at the helms of affairs four years after he took retirement. SUM ANS
ANS

Tata Group stocks remain under pressure after NCLAT order

Aon Hewitt, the global talent, retirement and health solutions business, has announced its list of Best Employers – India 2016. 
 
 
The purpose of Aon Best Employers study, which was first conducted in Asia in 2001, is to gain insights into companies that are creating real competitive advantage through their people, to explore the factors that make a workplace of choice and to identify the Best Employers. 
The most comprehensive study of its kind in Asia Pacific, it is now run in 12 markets: Australia &amp; New Zealand China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Thailand as well as in the Middle East. 
 
The survey done in India this year covered 113 organizations representing 12 key industries, cumulatively employing approximately 950,000 employees. 
 
Below are the names of the jury for the 2016 edition: 
 
· Prof Rajan Gupta, Professor at MDI. 
· Mr. Raman Roy, BPO industry pioneer and Chairman and Chief, Quattro 
· Ms. Renu Sud Karnad Managing Director, HDFC Limited 
· Dr. Santrupt Misra , CEO, Carbon Black Business and Director, Group HR, Aditya Birla Group 
· Mr. Shiv Shivakumar, CEO, Pepscio India 
 
And finally, here is the list of organisations that were recognised as the 2016 Aon Best Employers in India: 
 
<table border="0" cellpadding="0" cellspacing="0">
	<tbody>
		<tr>
			<td>
				<table border="0" cellpadding="0" cellspacing="0" width="661">
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						<tr>
							<td>
								Accor Hotels India</td>
							<td>
								Reliance Capital Asset Management Limited</td>
						</tr>
						<tr>
							<td>
								AGS Health</td>
							<td>
								Saint-Gobain India Private Limited – Gyproc Business</td>
						</tr>
						<tr>
							<td>
								Bajaj Allianz General Insurance Company Limited</td>
							<td>
								SKS Microfinance Limited</td>
						</tr>
						<tr>
							<td>
								Bajaj Finance Limited</td>
							<td>
								Starwood Hotels &amp; Resorts India Private Limited</td>
						</tr>
						<tr>
							<td>
								Becton Dickinson India Private Limited</td>
							<td>
								Tata AutoComp Systems Limited</td>
						</tr>
						<tr>
							<td>
								Bharti Infratel</td>
							<td>
								TATA AIA Life Insurance Company Limited</td>
						</tr>
						<tr>
							<td>
								Blue Dart Express Limited</td>
							<td>
								Tata Chemicals Ltd.</td>
						</tr>
						<tr>
							<td>
								DHL Express (India) Pvt. Ltd</td>
							<td>
								Tata Communications</td>
						</tr>
						<tr>
							<td>
								Godrej Consumer Products Ltd</td>
							<td>
								The Oberoi Group</td>
						</tr>
						<tr>
							<td>
								Hewlett Packard Enterprise, India</td>
							<td>
								Whirlpool India Limited</td>
						</tr>
						<tr>
							<td>
								IndiGo</td>
							<td>
								WNS Global Services Private Limited</td>
						</tr>
						<tr>
							<td>
								Lupin Ltd</td>
							<td>
								YASH Technologies Pvt Ltd</td>
						</tr>
						<tr>
							<td>
								METRO Cash and Carry India</td>
							<td>
								 </td>
						</tr>
					</tbody>
				</table>
			</td>
		</tr>
	</tbody>
</table>
 
<a href="http://www.insidehr.com.au/wp-content/uploads/2014/05/Best-employers.jpg">Image source</a>

You Searched For "tata group hotels" and got 8 results

Taj Hotels wants to turn asset light with its sell-and-lease-back strategy

Prabhjote Gill

Tatas are surprised after Taj directors express full confidence in Cyrus Mistry, may look into authenticity

BI India Bureau

IHCL Q3 net profit up 25 pc to Rs 213 cr

PTI

Cyrus Mistry owns Rs 1,000 crore worth TCS shares

BI India Bureau

Tata Group stocks recover lost ground; gain up to 3 pc at close of trade

PTI

Cyrus Mistry moves National Company Law Tribunal against Tata Sons

BI India Bureau

Tata Group stocks remain under pressure after NCLAT order

PTI

These are the best employers in India, as per Aon Hewitt

BI India Bureau

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