IHCL to invest Rs 2,500 crore to develop new 330-room property in Mumbai

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IHCL to invest Rs 2,500 crore to develop new 330-room property in Mumbai - Business Standard

Quick Summary:

Construction of the new property, "Taj Bandstand," is set to begin this year and is expected to take over three years to complete, IHCL's Managing Director and Chief Executive Puneet Chhatwal said.

The Tata Group-run Indian Hotels Company on Monday announced a Rs 2,500 crore investment to develop a new 330-room property in Mumbai.

The new property is coming up on a two-acre land parcel that once housed the Sea Rock Hotel, which was one of the sites bombed in 1993 serial blasts.