Claridges chain of hotels finds a new buyer for Rs96 crore

Our Corporate Bureau
07 April 2003

New Delhi: Businessman Suresh Nanda has made a foray into the hospitality industry by acquiring a significant stake of 20 per cent in the prestigious Claridges chain of hotels in northern India.

Nanda, the chairman of Claridges group of hotels, and other overseas investors who have an 80-per cent stake have finalised the deal for Rs 96 crore. The acquisition has been finalised after a series of discussions with the group's shareholders.

The Claridges chain of hotels owns two properties in India in New Delhi and Mussouri and manages two properties in Corbett Park and Nainital. The new management has chalked out expansion plans for the hotels, and has also drawn up marketing plans to aggressively promote the four properties. A team of professional managers and industry experts will manage the four hotels.

Says Nanda: “This is a challenging project that we have undertaken. The Claridges chain of hotels already has a strong equity in the market. It will be our endeavour to leverage the brand equity of Claridges by offering the best services to our customers and position the hotel as the preferred destination in India.“

The revamp of the hotel chain, beginning this year, includes infrastructure upgrading, introduction of new restaurants, regular training sessions for staff, and initiation of new marketing and promotional programmes.

Claridges hotel was set up in early 1950 in Lutyens Delhi spread over three acres of land. It has a distinctive colonial character with an exclusive charm to it and has a patronised regularly dedicated clientele.