Hotel Blue Diamond changes hands

PUNE: The Taj Blue Diamond Hotel Pune, a member of the Indian Hotels Company Ltd, better known as the Taj Group of Hotels, has been sold to an associate company, Piem Hotels Ltd, for a total of Rs 60 crore. This deal also includes the sale of another property, the Taj Residency Hotel Lucknow, for Rs 40 crore to the Piem Group.
Taj Blue Diamond had been recently acquired by the Taj Group.Speaking to TNN from Mumbai, Ravi Dubey, senior vice-president, corporate affairs, Taj Group, said, “We have merely effected a transfer from the Taj Group to the Piem Group, which is an associate of ours. We hold 45 per cent of the equity in Piem Group.�