Tata Group got an extension to manage the Taj Mansingh for another year

In a meeting held on 27 September 2012 in between the NDMC Chairperson, Archna Arora and Chief Minister of Delhi, Sheila Dixit, the decision was made that the New Delhi Municipal Council’s Taj Mansingh Property will be managed by the Indian Hotels Company (IHC) for another one year. The property has been managed by the Indian Hotels Company for past 34 years and its lease to manage the property was about to expire this year.

Within this period council will search for new operators by conducting open auctions. The IHC that is owned by the Tata group will have the Right of First Refusal during the auction. The deal will continue for a period of one year or till the time the auctioning come into being, which so ever comes first. All this has been done for revenue maximization by the civic body.

Earlier, the civic body had appointed consulting firm Ernst & Young to determine the valuation of the property and explore other options such as finding another partner or even auctioning the landmark hotel.