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Indian Hotels All Set To Buy US Hotel

Hina Deshpande 5 April 2007

According to BSE reports, the Tata Group Company, Indian Hotels, through its 100% subsidiary company, is all set to take over San Francisco based Hotel Campton Place in a deal of expected value $60 million. According to the company officials, the deal is in partnership with financial investors.

The deal has been signed on April 2, 2007, and it is scheduled for April 30, 2007 closure. On Tuesday, however, the Indian Hotels share price closed marginally lower by 0.7% on BSE.

Situated in Union Square in San Francisco, the West coast based Hotel Campton Place is a 14 storey, 110 room luxury boutique hotel. Renamed Campton Place Hotel in 1983, the hotel occupies two historic and picturesque buildings dating back to the early 1900s.

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