Indian Hotels to aquire Sea Rock Hotels

IHCL seems to be in negotiations aquire Mumbai based Sea Rock Hotels for an estimated Rs 650-700 crore.The aquisition will take place from Delhi base Claridges group which had bought the hotel in 2005.The hotel had been closed since 1993 when it had been blown up by the Bombay blasts until Claridges decided to buy it out.As Sea Rock is just across the road from Taj Land's end,post deal an integrated complexis planned.The resulting site may be similar to Taj Mahal palace at the gate way of India.The hotel is said to posess about 400rooms.If the deal is successful Taj will have four properties in Mumbai.This is a very confident step by Taj as it is already involved in the renovation of the property damaged by the current blasts which took place in Mumbai.This step will also add another luxury site to Mumbai where swaths of foreigners are found at all times of the year.