Indian Hotels Company has set aside Rs 3,000 crore as capex for the next five years, of which Rs 300 crore has been assigned for next year.
Also, the hospitality giant is planning to raise Rs 1,500 crore rights issue to reduce its debt levels and also use the proceeds for refurbishing and developing new and existing properties.
Meanwhile, the hospitality major is now looking to monetise its domestic properties like the Sea Rock property in North Mumbai which had been embroiled in a legal dispute.
Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia's largest and finest hotel company. It operates in the luxury, premium, mid-market and value segments of the market.
