IHCL Signs With Sincere Developers for a New Taj Hotel in Agra

India, Mumbai. June 12, 2019

The Indian Hotels Company Limited (IHCL), South Asia's largest hospitality company is pleased to announce a Taj branded hotel in Agra. This hotel is owned by Sincere Developers Pvt Ltd. under a management contract by Taj.

Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said, "This signing further strengthens our leadership in the leisure portfolio, as aligned to Aspiration 2022. Agra is one of the key cities in the famed Golden Triangle circuit. With this established hotel migrating to the Taj brand, the company will offer a multiple choice of hotels in all the three cities of Delhi, Agra and Jaipur. We are delighted to continue our growth in the fee based business model."

The hotel is strategically located within walking distance from the Taj Mahal, one of the Seven Wonders of the World and one of the three UNESCO World Heritage sites in Agra. The hotel comprises 239 spacious rooms as well as an all-day diner, an Indian specialty restaurant and a rooftop lounge overlooking the Taj Mahal. The hotel also has the largest banqueting space in the city.

Mr. Gulab Ladhani, Chairman and Managing Director, Sincere Developers said "We are proud to partner with The Indian Hotels Company Limited for its iconic Taj brand. Tourists to the city will now be able to get a taste of the legendary Taj hospitality."

Agra is a city on the banks of the river Yamuna in the state of Uttar Pradesh. It is a major tourist destination because of its many Mughal-era buildings, most notably the Taj Mahal, Agra Fort and Fatehpur Sikri all of which are UNESCO World Heritage sites. Agra is included on the Golden Triangle tourist circuit, along with Delhi and Jaipur.

With this addition, IHCL will have two hotels, one under the Taj and one under the SeleQtions brand in the city of Agra.

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.