Taj Hotels acquires San Francisco hotel for $58 million
02 May 2007
New York: Tata Group company Taj Hotels, Resorts and Palaces, said it acquired a 110-room, European style luxury hotel Campton Place in San Francisco for $58 million.
This is the first hotel the Taj group company has acquired in the East Coast and the third in the US. The company earlier entered into a lease to operate the The Pierre in New York''s Fifth Avenue and full ownership of Taj Boston earlier this year.
Taj owns and manages 77 hotels worldwide, and the acquisition will enhance the Campton Place''s original reputation for quiet elegance, unrivalled service and style, said Raymond Bickson, chief executive of Indian Hotels.
Campton Place has a 98-year heritage and re-opened in 1984 when two buildings that date back to 1909 and 1910 were combined into one. Today, it has 101 rooms, nine suites, a restaurant, bar, fitness centre and broadband access.