Taj acquires Sea Rock for Rs 680 crore | india | Hindustan Times
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Taj acquires Sea Rock for Rs 680 crore

india Updated: Jun 13, 2009 00:37 IST
HT Business Bureau

The Taj Group on Friday announced the acquisition of now defunct Sea Rock hotel located on a peninsula and just across the street from the Taj Land’s End hotel in Bandra.

The 432-room Sea Rock, which was partially damaged in the 1993 serial bombings and closed down due to subsequent labour problems, will be completely demolished to make way for an iconic hospitality-cum-convention complex, which would be integrated with the 368-room Taj Land’s End.

“In the next three to five years, Mumbai will witness a completely new kind of hospitality development at this site, which be a landmark of the city and an iconic complex. It will attract global conference business that always bypassed India,” said R K Krishna Kumar, vice-chairman, Indian Hotel Company Ltd (IHCL), which owns the Taj group of hotels.

Demolition of Sea Rock is expected to start soon and the Taj group has plans to clear the debris through the sea route. The whole exercise will be handled with care, officials said.

IHCL has acquired 85 per cent stake in ELEL Hotels and Investments Ltd, owners of Sea Rock, for Rs 680 crore. The company has also acquired all the necessary clearances for the demolition and construction of the new hotel complex that would make Taj a leader in north Mumbai.