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Journalism of Courage
PUNE, July 15: The city8217;s oldest five star luxury hotel 8211; Hotel Blue Diamond- which played host to a number of celebrities has been sold.
The Indian Hotels Company which owns the Taj Group of Hotels has signed an agreement with Poona Industrial Hotels Limited PIH for the purchase of Blue Diamond Hotel and Hotel City Inn, Baramati. The Poona Industrial Hotel forms part of the Kirloskar group, better known for its expertise in engineering.
The decision comes in the wake of the major restructuring exercise undertaken by the group which has now decided to focus on their core business sector ultimately resulting in the divestment of their hotels. The PIH had passed a resolution at its extraordinary general body meeting in February authorising the board to sell, transfer or otherwise dispose of as a going concern the entire undertaking of the company.
While the PIH authorities continue to remain tight-lipped over the sale, the Taj Group of Hotels has classified Blue Diamond Hotel under the Taj Business Hotels. The Taj group plans to undertake renovation and upgradation of both hotels starting October this year.
While the statutory approvals are awaited, both hotels will continue to be managed and operated by the Kirloskar group. Hotel Blue Diamond is spread over an area of two acres, is equipped with a 600 capacity conference hall, four restaurants, 102 rooms, banquet facilities, swimming pool, health club and business centre.
The 34 room Hotel City Inn at Baramati, also caters to the business travellers. The hotel came up during S L Kirloskar8217;s time when there was no good hotel in the city.
