Indian Hotels announces management takeover of Cidade de Goa
One of the leading players in the hospitality industry, The Indian Hotels Company Ltd (IHCL), on Monday announced management takeover of Cidade de Goa, Dona Paula promoted by the Timblo family.
The deal was finalised in Mumbai after which the news was made public. The company said that, it signed a management contract with Cidade de Goa for 506 rooms, of which 207 rooms are a part of the present property while an additional 299 rooms are under construction. The Cidade De Goa property will be a part of the SeleQtions portfolio of Taj, a brand of hotels and resorts with a distinct character, said the company.
Commenting on the signing of the agreement, Puneet Chhatwal, managing director and chief executive officer IHCL, said “IHCL has a special relationship with the state of Goa since 1974 when Taj Fort Aguada Resort & Spa, India’s first beach resort opened its doors and firmly established Goa on the global map. Iconic properties like Cidade de Goa of Fomento Resorts and Hotels Ltd. will further strengthen our position as the most iconic and profitable hospitality company.” Cidade de Goa, designed by Charles Correa with its distinctive old-world charm, will be the first hotel to join IHCL’s SeleQtion’s portfolio as of April 2019.
The company in a press statement said that, the 299 rooms that are under construction will be Taj branded rooms with contemporary design, floor to ceiling glass windows offering superb sea views, extensive conferencing facilities with the largest convention hall in the state measuring approximately 1200 sqm. It is slated to open in early 2020.
Commenting on the partnership, Anju Timblo, managing director, Fomento Resorts and Hotels Ltd. said, “We are very excited with our partnership with IHCL with its highly recognised portfolio of brands. With this association, Cidade de Goa and the new development will achieve its full potential and pave the way for a successful and mutually beneficial collaboration for many years to come. Together with IHCL, we look forward to promoting the ‘Goan-ness’ of Goa.”
Fomento Resorts and Hotels Ltd (FHRL) which is part of the Fomento Group with business interests in mining, river transportation and shipping, is a listed company on the BSE.
IHCL in Goa has six brands, including the Taj, Vivanta and Ginger. The hotel chain is part of the Tata Group. It operates 178 hotels including 30 under development globally across four continents, 12 countries and in over 80 locations.