Tata’s are having a very bad year
For the industrialist, 2008 started off in a grand way, with the acquisition of the iconic British marquees Jaguar and Land Rover (JLR). Coming on the back of the Corus acquisition, the JLR gave the Tata group the necessary global credentials. But things started skidding off-course when the Nano project had to be pulled out of Singur, West Bengal. Soon the global financial meltdown set in, hurting several group businesses. And now, the devastation of the Taj Mahal Palace and Tower, the jewel in the Tatas’ hospitality crown.
The Taj Mahal Hotel, with 565 rooms including 46 suites, was one of the Taj properties with very high occupancy rates. The attacks are likely to hit the hotel’s revenues for at least two years.
