Taj Group Wins Bid, Acquires 33-Year Lease For The Connaught Hotel

New Delhi: The Connaught, a premium hotel in Lutyen's Delhi, was successfully acquired by Tata's Indian Hotel Company Limited (IHCL) in an e-auction conducted by the New Delhi Municipal Council (NDMC) today. "The successful bidder is the Taj group which will pay 31.80 per cent of the Gross Turn Over (GOT) or Rs 5.868 crore per annum, whichever is higher. This current auction has yielded more than the double revenue that the NDMC was ...