INSUBCONTINENT EXCLUSIVE:
The licensing rights have been granted for a period of 33 years.New Delhi: The Connaught, a premium hotel in Lutyen's Delhi, was
successfully acquired by Tata's Indian Hotel Company Limited (IHCL) in an e-auction conducted by the New Delhi Municipal Council (NDMC)
"The successful bidder is the Taj group which will pay 31.80 per cent of the Gross Turn Over (GOT) or Rs 5.868 crore per annum, whichever is
licensing rights have been granted for a period of 33 years
The property at 37, Shaheed Bhagat Singh Marg has about 85 rooms, 3 banquet halls and one swimming pool and is situated adjacent to the
will help in financing the public projects," the official added
"We are extremely delighted to win the bid for The Connaught, New Delhi
The hotel is located strategically in Lutyens Delhi, the city's most coveted address, conveniently located in the heart of capital," an IHCL
kind," the spokesperson said
The NDMC had last year decided to auction The Connaught and re-auction Asian Hotel, after they were sealed by it in 2015 due to non-payment
In January last year, the Asian Hotel was e-auctioned, fetching Rs 45.5 lakh per month as licence fee, the highest-ever for the agency
TheIndianSubcontinent staff and is published from a syndicated feed.)
