No apology from Orient Express, status quo remains: IHCL
The Taj group of hotels has not yet received an official appology from super-luxury hotel chain Orient Express.
By PTI |
MUMBAI: The Taj group of hotels has not yet received an official appology from super-luxury hotel chain Orient Express, which had turned its offer for alliance.
Orient had said a tie-up with the "predominantly Indian" chain will erode the value of its premium brand, following which the leading India-based group had demnaded an apology.
"We maintain status quo on Orient Express and nothing really has changed since last reported," Indian Hotels Company Limited's Managing Director and Chief Executive Officer Raymond N Bickson told reporters here today.
However, he refused to give details. The Tatas had shot off a letter to the American company on December 20 alleging its posture was "libellous".
Demanding an apology from the American hotel, the Tatas had said it was a proud Indian company and would persevere with its global expansion strategy.
In September, Indian Hotels announced it had acquired a 10 per cent stake in Orient-Express for $ 211.28 million, through its offshore subsidiary Samsara Properties Ltd.
Between September 17 and December 7, IHCL purchased 1.5 per cent stake from the open market for USD 35 million.
After IHCL announced its 10 per cent acquisition, Orient Express said it was not keen on any aliance with Indian Hotels.
Orient had said a tie-up with the "predominantly Indian" chain will erode the value of its premium brand, following which the leading India-based group had demnaded an apology.
"We maintain status quo on Orient Express and nothing really has changed since last reported," Indian Hotels Company Limited's Managing Director and Chief Executive Officer Raymond N Bickson told reporters here today.
However, he refused to give details. The Tatas had shot off a letter to the American company on December 20 alleging its posture was "libellous".
Demanding an apology from the American hotel, the Tatas had said it was a proud Indian company and would persevere with its global expansion strategy.
In September, Indian Hotels announced it had acquired a 10 per cent stake in Orient-Express for $ 211.28 million, through its offshore subsidiary Samsara Properties Ltd.
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Between September 17 and December 7, IHCL purchased 1.5 per cent stake from the open market for USD 35 million.
After IHCL announced its 10 per cent acquisition, Orient Express said it was not keen on any aliance with Indian Hotels.
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