IHCL divests ownership of Taj Boston
July 13, 2016: Taj Hotels Resorts and Palaces announced today that it has sold the historic Taj Boston hotel to a consortium comprising New England Development, Eastern Real Estate, Rockpoint Group, Lubert-Adler, and Highgate. While this partnership will take over the ownership of the 90-year old, 273-key hotel, Taj Hotels Resorts and Palaces will retain its brand presence in Boston through a long-term management services agreement. Sentinel Advisors Pte Ltd worked closely with Eastern Real Estate in advising the buyers on strategy.
As part of the transaction, New England Development, Eastern Real Estate and Highgate will serve as asset managers, working closely with the Taj Hotels Resorts and Palaces team, Rockpoint Group and Lubert Adler. All current bookings for hotel rooms, restaurants and banquets will be honored, and guests can continue to book the hotel through existing channels.
Taj Boston is located on the Boston Public Garden, adjacent to the city’s retail district on the corner of Newbury and Arlington streets. The hotel has the ambience of a Boston townhouse, enhanced with traditional furnishings, crystal chandeliers, luxurious bedding and indulgent bath amenities. The 273 guestrooms include 44 suites, each featuring classic décor and a wood-burning fireplace.