The Taj Is for Sale
Taj Boston, the luxury hotel that overlooks the Public Garden, is now on the market.
According to a Boston Business Journal report, the owner of the hotel, Indian Hotels Co. Ltd., plans to sell the Taj for at least $125 million. The company announced the sale in a filing on Wednesday.
Indian Hotels bought the hotel ten years ago when it was the Ritz Carlton, and then rebranded it as the Taj. The BBJ reports that the hotel’s 273 rooms range from $195 to $6,000 per night.
If the Taj does sell for $125 million, Indian Hotels would rake in $457,875 per room. Earlier this year, the Mandarin Oriental Boston was acquired for $945,945 per room, making it the most expensive hotel deal in Boston’s history.
The sale of the Taj comes after years during which the hotel’s profitability took a hit. Indian Hotels is seeking buyers who intend to maintain the Taj’s brand.
You can read the full BBJ report here.