The Times of India
Tatas go Ritzy, buy slice of Boston history Chidanand Rajghatta [ 11 Nov, 2006 0058hrs IST TIMES NEWS NETWORK ]
WASHINGTON: Steeped in hospitality history itself, the Tata Group has added a slice of western legacy to its chronicles by acquiring the landmark Ritz-Carlton in Boston, once part of a hotel chain that engendered the word 'ritzy' to denote posh or fashionable.
The Tata-owned Indian Hotels Co. Ltd., operator of Taj Hotels, Resorts and Palaces, confirmed Thursday it has signed an agreement to purchase the Ritz-Carlton Boston for $170 million. The 79-year old hotel will be renamed Taj Boston when the deal with current owner Millennium Partners closes in January.
It will be the group's second hotel in the United States following its purchase of equally ritzy The Pierre in New York's Manhattan last year.
Ritz Carlton in Boston is also famous for being the first hotel to offer private baths in guest rooms, uniforms for staff, and fresh flowers in the hotel's common areas. Opened in 1927 with a room rate of $ 15, its guests have included Winston Churchill and JFK.
"The Ritz-Carlton is one of New England's finest hotels and a premiere social address in Boston," Raymond Bickson, managing director and CEO of Indian Hotels Co., said in a statement. "We are delighted to extend our presence in the United States with this renowned hotel. Its rich heritage, superb location and grand architecture make it an ideal fit for Taj."
Not that Tatas are lacking in any of these when it comes to hospitality and beyond. The Group's landmark Taj Mumbai is even older than Ritz Boston, having opened in 1903 after being built for a then-princely sum of Rs 4.03 crores (less than $ 1 million today.)
Legend has it that the original Taj Hotel was built facing inland rather than the harbour as a deliberate snub to the English monarchy by the nationalist Jamshedji Tata. Subsequently, the Gateway of India was built across the road to commemorate the visit of King George V and Queen Mary to India in 1911.
Incidentally, César Ritz, the Swiss hotelier who started the Ritz Carlton chain in 1898, was known in the hotel industry as the "king of hoteliers and hotelier to kings."
But the days when India turned its back to foreign invasion and sulked seems history now. Over the past few years, the Tata group, among others, has moved swiftly to acquire assets abroad and expand.
Besides The Pierre in New York, Taj Hotels has also bought the Blue Sydney on the Wharf at Woolloomooloo, in Australia, to add to its ownership of the swank 51, Buckingham Gate, in London. The group now owns close to 60 hotels and resorts worldwide, including in Africa and the Middle East.
The Pierre too is part of New York history and moneyed Manhattan. A Georgian-style complex that opened in 1930, it was till recently home to the most expensive apartment listed in Manhattan (part of the building was a condominium). An 11,000 square foot apartment occupying the top three floors of the hotel was priced at $ 70 million in 2003.