Indian Hotels says ops at New York's Pierre continue, sale report misleading
This story was originally published at 19:27 IST on 18 September 2025
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--Indian Hotels: Reports of sale of New York's Pierre misleading, speculative
HYDERABAD – The Indian Hotels Co. Ltd. has denied reports of plans to exit New York City's The Pierre as misleading and speculative. Indian Hotels does not own The Pierre and only has leasehold rights to the hotel, the company said in an exchange filing. The hotel's operations continue as usual, the Tata Group company said, calling reports suggesting otherwise "misleading and speculative".
Thursday, The Times of India reported that Indian Hotels may be looking to exit from The Pierre in a $2 billion deal. The 189-room hotel is an iconic property in Manhattan. Indian Hotels, through a subsidiary, owns another property, the Taj Campton Place, in San Francisco on the west coast of the US.
Indian Hotels had reported a consolidated net profit of INR 2.96 billion for the June quarter on a revenue of INR 20.41 billion. Thursday, shares of the company ended slightly higher at INR 782.05 on the National Stock Exchange. End
US$1 = INR 88.12
Reported by Narayana Krishna
Edited by Rajeev Pai
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