Taj Hotels, Resorts and Palaces, a part of the Tata Group under the Indian Hotel Company, on Tuesday said it has acquired Campton Place in San Francisco, a 110-room, European style luxury hotel, for $58 million.
Taj, which owns and manages a portfolio of 77 hotels worldwide, will enhance the Campton Place's original reputation for quiet elegance, unrivalled service and style, said Raymond Bickson, chief executive of Indian Hotels.
This is the group's first hotel in East Coast and the third in the country, after the lease entered into in 2005 to operate the The Pierre in New York's Fifth Avenue and full ownership of Taj Boston earlier this year.
Read more in The Times of India article.
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