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Article: Indian Hotels to acquire US-based Campton Place for $58 m.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- April 6, 2007
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Indian Hotels to acquire US-based Campton Place for $58 m
Mumbai, Apr 5 (PTI) Indian Hotels Company Ltd (IHCL), the Tata Group company that owns and operates the Taj Hotels chain, has entered into a definitive agreement to acquire The Campton Place, a San Francisco-based hotel, for a consideration of USD 58 million.
The hotel to be acquired from the Kor Hotel Group will expand IHCL's presence in the US market, taking its tally to three hotels in the region, an IHCL release said here today.
"Acquisition of The Campton Place offers us a unique opportunity to establish Taj's presence on the US West Coast. San Franciso is one of the top five markets ...