In a bid to trim down its debt and focus on reviving growth at home, Indian Hotels is reportedly planning to spin off its foreign business. The company is working on a restructuring plan to move all its foreign assets into a ‘step-down subsidiary’ and expected to revamp the business by March. The luxury chain controlled by Tata Sons had Rs 3,818 crore ($602 million) of debt as of March 2013.
The Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and is recognized as one of Asia's largest and finest hotel company. IHCL operate in the luxury, premium, mid-market and value segments of the market. Ginger (economy hotels) is IHCL’s revolutionary concept in hospitality.
