Indian Hotel to rescue Taj Mansingh Hotel from auction

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Indian Hotel to rescue Taj Mansingh Hotel from auction

Delhi's iconic Taj Mansingh Hotel may not go under the hammer after all. Check out why...

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Delhi's iconic Taj Mansingh Hotel may not go under the hammer after all.

Indian hotels managing director and chief executive officer, Raymond Bickson, clarified that there is no question of New Delhi Municipal Corporation or NDMC auctioning the hotel as Indian Hotels were part owners of the property.

"It is a management contract, but it is also an equity participation, so we own part of the hotel," Bickson said. "So an auction would be highly unlikely at this point in time since we are one of the owners of this hotel," he said.

Bickson hopes the issue would be resolved in the next couple of months. He however said that the Indian Hotels group had developed the marquee hotel when the government failed to do so.

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