Taj Expands Presence in Goa with the Signing of Two Hotels

Main Photo: The current Cidade de Goa Hotel

Date: February 2019

Location: Vainguinim Beach in the vicinity of Dona Paula in Goa, India

Name: Cidade de Goa – five star and a new Taj hotel opening 2020

No. of Keys: 207 plus 299 under construction

Seller/Owner:  Fomento Resorts and Hotels Ltd, part of the Fomento Group with businesses spanning across mineral development, river transportation and world-wide shipping, operating in the states of Goa, Karnataka and Maharashtra.

The company is engaged in tourism development activities and is actively involved in promoting local Goan culture, cuisine, music and art.

Besides hotels, the company promotes university degree programs in hospitality through Fomento Education and Charitable Society.

Buyer/Manager: The Indian Hotels Company Limited, South Asia’s largest hospitality company signed a management contract for two hotels in Goa adding 506 rooms to its pipeline.

The Company will take over the management of the legendary 207 key Cidade de Goa which will form a part of the SeleQtions portfolio – a named collection of hotels and resorts with a distinct character, from IHCL.

An additional 299 rooms which are under construction, will be added to the same complex under the Taj brand.

Commenting on the signing of this agreement, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said “IHCL has a special relationship with the state of Goa since 1974 when Taj Fort Aguada Resort & Spa, India’s first beach resort opened its doors and firmly established Goa on the global map.

Iconic properties like Cidade de Goa under a management contract with Fomento Resorts and Hotels Ltd., promoted by the illustrious Timblo family will further strengthen IHCL’s position as the most iconic and profitable hospitality company.”

Both the hotels will be located at the same site. Cidade de Goa, designed by Charles Correa with its distinctive old-world charm, often known as one of Goa’s best kept secrets will be the first hotel to join IHCL’s SeleQtion’s portfolio as of April 2019.

The Taj branded 299 room hotel will have a contemporary design with floor to ceiling glass windows offering superb sea views. The hotel will boast of extensive conferencing facilities with the largest convention hall in Goa, measuring approximately 1,200 square meters. It will have several dining options including an all-day diner, speciality restaurants and bars. It is slated to open in early 2020.

Commenting on the partnership, Mrs. Anju Timblo, Managing Director, Fomento Resorts and Hotels Ltd. said, “We are very excited with our partnership with IHCL, with its highly recognised portfolio of brands.

With this association, Cidade de Goa and the new development will achieve its full potential and pave the way for a successful and mutually beneficial collaboration for many years to come. Together with IHCL, we look forward to promoting the ‘Goan-ness’ of Goa.”

Goa is home to six existing IHCL branded hotels with another three under development.

 

THPT Comment: Taj has come a long way since it was incorporated by the founder of the Tata Group, Jamsetji Tata and now in safe hands under the new-ish CEO, Puneet Chhatwal, since 2017.

The Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCL operates 178 hotels including 30 under development globally across 4 continents, 12 countries and in over 80 locations.

First Seen: IHCL website

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email info@thpt.co.uk.