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Showing posts from August 30, 2009

NEWS| Taj, Oberoi get Rs 140 cr as terror insurance claims so far

e insurance claims on account of the Mumbai terror attacks on Taj Mahal and Trident.

In December, General Insurance Corporation of India (GIC Re), the designated administrator of the terror insurance pool, released Rs 25 crore each to the hotels. So far, Indian Hotels has received Rs 75 crore while Oberoi got Rs 65 crore.

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The total corpus of the pool stands at Rs 1,500 crore as on March 31. “The final claim figure will be arrived at only after the hotels finish their refurbishing process”, said Mr Yogesh Lohiya, Chairman and Managing Director, GIC Re.

“The total claims of both should not exceed Rs 500 crore,” added Mr M. Ramaprasad, General Manager, GIC Re.

The claims arising out of any terrorist activity are paid from the terror insurance pool formed by the general insurance companies in 2001.


NEW HOTELS| Taj Opens its First Vivanta Resort in the Maldives

Taj Exotica has been renamed Vivanta by Taj- Coral Reef, Maldives and thus becomes the Taj's first resort hotel under this exciting new brand. Slotted in the Upper Upscale segment, Vivanta Coral Reef offers an exceptional holiday experience at a stunning value proposition.


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NEWS| Four Seasons London to be transformed

The Four Seasons Hotel London, on Park Lane, has temporarily closed its doors to the public in order to undergo an extension and a complete renovation and refurbishment.

The scope of the work includes an entirely new floor and a rooftop spa. The hotel is expected to reopen in 2010.


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NEWS| Brand Ashok plans to set up airport property

The Ashok brand is scripting a comeback to the hospitality scene in the state.
It was Indian Tourism Development Corporation's (ITDC) umbrella hotel brand prior to its divestment of 11 properties, including Hotel Airport Ashok in Kolkata. Now, ITDC officials are in talks with at least four hoteliers and developers to set up franchise hotels in Kolkata, Siliguri, Santiniketan and Shankarpur.

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ITDC vice-president Kuldeep Verma will fly into Kolkata on Monday to negotiate a deal with a realty major for a 200-room hotel close to the airport. Seven years ago, the company had sold off stake in Hotel Airport Ashok, once a leading five-star property that had suffered from poor occupancy after flights to the city nosedived.
"We are in talks with a realtor who plans to set up a 200-room property on Jessore Road, close to the airport. The Rs 150-200 crore project should be up and running shortly after the modernization of Kolkata airport," Verma told TOI…