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Taj Group, is one of Asia’s largest and finest group of hotels. Incorporated by the founder of the Tata group, Jamsetji Tata, the company opened its first property, the Taj Mahal Palace, in Bombay in 1903. The Taj, a symbol of Indian hospitality, completed its centenary year in 2003. The company’s head office is in Mumbai, India. Taj properties are located in Asia, UK, US, Australia and Africa. “Acquired 10 years ago, Taj Boston remained a loss-making property for the third consecutive year last year, forcing IHCL to explore liquidating options. The company has been struggling to bring down its debt, which stands at Rs 5,000 crore,” says the Business Standard. This is reportedly the Taj Group’s seventh hotel exit in the past two years. “In recent times, the company has been relooking at all options for a course correction in strategy, focusing on growth in high-margin markets, evaluating the relevance of some of its existing assets in the portfolio to reduce leverage. In order to accomplish the above objectives, the board has authorized the management of the company to pursue such a divestment,” Indian Hotels said in a statement. Taj Group comprises 108 hotels in 63 locations, including 25 Ginger hotels across India, with an additional 17 international hotels in the Maldives, Malaysia, Australia, UK, US, Bhutan, Sri Lanka, Africa and the Middle East. From world-renowned landmarks to modern business hotels, idyllic beach resorts to authentic grand palaces, each Taj hotel offers an unrivalled fusion of warm Indian hospitality, world-class service and modern luxury. The most significant additions to the Taj portfolio have been The Pierre, the iconic landmark hotel on New York’s Fifth Avenue, the Taj Cape Town in South Africa and the latest Taj Falaknuma Palace in Hyderabad. In 1993, the company established the Indian Institute of Hotel Management in Aurangabad, Maharashtra, in western India. Indian Hotels operates in the luxury, upper upscale, upscale and value segments of the market. Other areas of business include Taj Air, a luxury private jet operation, and Taj Yachts, which can be used by guests in Mumbai and Kochi, Kerala. The company also operates airline-catering services.]]>