IHCL to manage four more Ambuja Neotia properties

Indian Hotels Company Limited (IHCL), a part of the multi-billion Tata group, will manage four more properties built by the Ambuja Neotia group, an official said on Tuesday.

Chairman of Ambuja Neotia group Harsh Neotia said the properties will be under the Taj brand, two of which are in New Town, one each in Patna and Gangtok.

IHCL is already managing two properties of the Ambuja Neotia group in the metropolis and Kurseong in West Bengal.

Speaking at the launch of a convention centre in New Town area, Neotia said the group will be investing close to Rs 800 crore towards setting up the six properties, of which Rs 400 crore of investment has already been done.

The group has also purchased land in the deltaic Sundarbans in West Bengal for setting up a property there.

Work on the Sundarbans project will start later, he added.

To a query, he said it is expected that the situation will be back to pre-Covid levels by the middle of 2022, and the business scenario will improve substantially.

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