Tata group firm Indian Hotels Company picks majority stake in Rajscape Hotels

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Indian Hotels Company Ltd (IHCL) connected Tuesday announced the acquisition of bulk involvement successful Rajscape Hotels, which manages boutique properties nether the 'Tree of Life Resorts & Hotels' brand, joining hands with the Ambuja Neotia Group.

The acquisition of bulk shareholding is aimed astatine strengthening IHCL's beingness successful the experiential leisure segment.

In a regulatory filing, IHCL informed that its committee has approved the execution of a Share Subscription and Purchase Agreement, and Shareholders' Agreement to get astir 55 per cent equity shares "for an magnitude not exceeding Rs 18 crore successful Rajscape Hotels Private Limited".

Rajscape Hotels manages 16 boutique properties nether marque 'Tree of Life Resorts & Hotels' crossed India.

Puneet Chhatwal, MD & CEO, IHCL said, "Recognising the increasing request for experiential leisure, IHCL is excited to onboard the Tree of Life marque and standard it to 100 properties by 2030."

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