Indian Hotels plans Makati venture
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India's leading hospitality chain Indian Hotels Company Ltd (IHCL), the owner and operator of Taj Hotels Resorts & Palaces, is believed to be exploring the Philippines market to set up hotels and resorts there.
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Top executives from the Taj group and from other hospitality chains such as Fraser's Hospitality, Accor and Banyan Tree Hotels and Resorts were in the Philippines to participate in the third Asean Tourism Investment Forum held in Pasay City last week.
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Sources said a property in the main island of Palawan was on the Taj group's radar. "But since another company already acquired that property, they will now have to scout for other locations," said a source. Taj officials were not available for comment.
Sources said that the Taj management is keen on setting up a high-rise hotel with a floor area of between 10,000 and 12,000 sq m in Makati. "There are strong possibilities of the hotel chain looking at a leisure project too. Company officials were out scouting for locations outside Metro Manila for the resort," a source added.
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A part of the Tata group, Taj Hotels Resorts & Palaces has 57 hotels in 40 locations across India and 18 international hotels in the Maldives, Mauritius, Malaysia, Australia, the United Kingdom, the United States, Bhutan, Sri Lanka, Africa and the Middle East.
The company has also been aggressively pursuing Vietnam and Singapore markets.
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