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NEWS| Taj Gvk Hotels & Resorts board to recommend dividend

A meeting of the board of directors of Taj Gvk Hotels & Resorts will be held on Apr. 29, 2008, to recommend dividend and approve the audited financial results for the quarter and year ended Mar. 31, 2008.

The board will also fix the date of book closure of share transfer books and consider the distribution of dividend if any.

Taj GVK Hotels and Resorts was formed as a strategic business alliance between Indian Hotels Company (25.52% stake) and the GVK group (35% stake) in 1999. It is a joint venture of the Taj and GVK groups, who offers a chain of hotels at par with international standards. The hotel chain plans to develop two more properties in Hyderabad, one at Begumpet and another at Hitec City, while investing about Rs 1 billion in its existing property for renovation and expansion.

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