Indian Hotels is reportedly planning to merge Taj GVK Hotel & Resorts with itself as the GVK Reddy family wishes to exit the business. Indian Hotels, which currently holds around 25.5 percent in Taj GVK and Reddy family which holds about 50 percent stake, are in process of negotiating swap ratio for the merger. Taj GVK, which has debt of roughly Rs 362 crore on its books, will cease to exist as separate listed entity if the merger goes through.
Indian Hotels company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia`s largest and finest hotel company. It operates in the luxury, premium, mid-market and value segments of the market.