Tata’s Taj Group to buy historic Boston hotel

Quoting senior officials of the Ritz-Carlton Boston, who are privy to the deal negotiations with the Taj Group, said it is not known what would be the new name of the hotel.

A temporary home to royalty and the rich, Ritz-Carlton would lose its name once acquired by the Taj Group. All this is part of the expansion plans of the Tatas in the US. Of late, the company has acquired and invested in a number of companies in America.

Constructed by Edward Wyner and opened in 1927, the hotel was bought by Millennium Partners of New York in 1999 for $122 million. It was renovated in 2001 at the cost of $30 million and was reopened in 2002, the paper said. However, the exact amount of the acquisition and date of purchase is not yet known, the paper said.

The Taj Group owns 75 hotels, including some of the most prestigious and luxurious properties in the world. The group re-entered the US market in July 2005, when it acquired the management of the Pierre Hotel in Manhattan. Presently under renovation, its official launch is yet to be done. Situated on Central Park at Fifth Avenue and 61st Street, The Pierre has been an icon of luxurious hospitality in New York since its launch in 1930.