(MR. PUNEET CHHATWAL, MD & CEO, IHCL WITH MR. STEFAN AUMANN, MANAGING PARTNER, PEAKSIDE)
TTT NEWS NETWORK
MUMBAI, 15 SEPTEMBER 2023:
Indian Hotels Company (IHCL), India’s largest hospitality company, today announced that it is stepping into Continental Europe with the signing of Taj Hotel Hessischer Hof at Frankfurt in Germany. Frankfurt’s landmark hotel, after extensive renovations will join the illustrious list of iconic Taj hotels around the world. Signed under an operating lease arrangement, it will reopen in 2025.
Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said, “This is a milestone in IHCL’s journey as we expand our footprint in key international gateway cities. Frankfurt, a vibrant metropolis is one of Europe’s most dynamic destinations. We are very proud to gain a foothold in such an iconic structure and to be able to reopen it with new splendour.”
“For over a century, Taj renowned for its world-class service of genuine warmth and sincere care will now bring the quintessential Taj hospitality to Frankfurt. We are delighted to partner with Peakside for this venture.” he added.
The hotel was built in 1952 on a former city palace site, owned and operated by the Prince of Hessia as a member of The Leading Hotels of the World. The 134-room Taj Hotel Hessischer Hof is centrally located in close proximity to the Frankfurt trade fair grounds – one of the largest conventions and meeting spaces in Germany.
“Frankfurt is a major international crossroads where we will set new standards for luxury hotels while also achieving a milestone as the first Taj hotel in continental Europe,” says Boris Schran, Managing Partner at Peakside. “We are confident that our new concept will offer exactly what German and international travellers are looking for as they come to Frankfurt.”
As part of extensive refurbishment, the new design will feature modern accents while at the same time preserving the architectural integrity of the historical structure. After making its mark in London, Cape Town and Dubai, Bombay Brasserie, the restaurant famed for its eclectic Bombay and Indian cuisine, will enter Frankfurt. The Chambers, India’s first exclusive business club will have a new outpost at Taj Hotel Hessischer Hof. Guests can relax at the legendary Jimmy’s Bar with its fabled character. Its elegant banqueting spaces are perfect for business meetings and its recreational facilities include a spa, fitness area and a winter garden.
“Right from the start, the most renowned hotel operators showed strong interest in the Hessischer Hof,” adds Simon Lutz, Partner at Peakside. “A key reason for the choice of the internationally renowned hotel group IHCL was their many years of demonstrable experience as an excellent operator of luxury hotels. Through our joint plans, we will build upon this hotel’s rich legacy under the new brand.”
Frankfurt, Germany’s financial capital is a global hub for commerce, culture, education and tourism. It is the site of many global and European corporate headquarters.
About Peakside
Peakside Capital Advisors AG is a European investment manager. The private-equity company manages assets worth over EUR 1.4 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from core to value-add and opportunistic investments in commercial and residential assets and has in total acquired assets worth EUR 4.5 billion. Peakside’s investment spectrum includes single properties, developments as well as portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 35 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.
About The Indian Hotels Company Limited:
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as India’s Strongest Brand 2023 as per Brand Finance; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 271 hotels including 81 under development globally across 4 continents, 11 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is listed on the BSE and NSE.
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