Financial Daily from THE HINDU group of publications
Thursday, Aug 05, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate - Alliances & Joint Ventures
Industry & Economy - Tourism


Taj group forays into wildlife tourism — Ties up with CC Africa, Cigen

Our Bureau

The target audience would comprise pure wildlife tourism enthusiasts, circuit tourists and the high-end domestic travellers keen on such an experience.


Mr Steve Fitzgerald, CEO, CC Africa (left), and Mr Raymond Bickson, Managing Director, The Indian Hotels Company Ltd, at a press conference in Mumbai on Wednesday. - Paul Noronha

Mumbai , Aug 4

THE country's national parks and sanctuaries will now become accessible to high-end foreign tourists and Indian travellers.

Keen to tap the potential of a structured wildlife tourism initiative, the Taj group has joined hands with Conservation Corporation Africa (CC Africa) and Cigen Corporation, a part of the Chaudhury group, to expand into yet another segment of the hospitality industry.

All the three players will have an equal shareholding in the joint venture company.

CC Africa is a leading eco-tourism company operating 38 high-end game lodges in South Africa, Kenya, Tanzania, Zimbabwe, Namibia and Botswana.

The Nepal-based Chaudhary group has interests in food and beverages, financial services, infrastructure and the hospitality sector. The Chaudhary group and the Taj group are partners in Taj Asia Ltd, which is the vehicle through which the partners own, operate, and plan to expand their hospitality interests in the South Asian and Asia-Pacific markets.

Setting itself a conservation agenda, the initiative aims to adopt a sustainable model for wildlife tourism.

In the first phase, the joint venture will set up two lodges at two selected national parks and ramp up with another five over the next three years. An initial investment of Rs 30 crore is likely to be made by the joint venture in this project.

According to company officials, the larger goal of the venture will be to preserve the ecology and natural environment of the country.

The target audience would comprise pure wildlife tourism enthusiasts, circuit tourists and the high-end domestic travellers keen on such an experience.

The project will be jointly branded by the Taj group as well as CC Africa.

Under the terms of the alliance, apart from a third of the revenues, the Taj group would also earn a fee on the project. However, the earnings from this joint venture will be reflected in the balance sheet of Indian Hotels Company Ltd (which runs the Taj Group of Hotels) only three years later. "But this project will reflect on the brand value,'' said Mr Zubin Dubash, Executive Director, IHCL.

According to the official, tariffs were likely to be about $350 per person per night.

According to the company official, Ranthambore, Bandipur, Bharatpur, Kanha, and Tadoba were among the likely choices for the first phase of the project.

The project would have a strong community focus wherein the local population would be given employment and roped into anti-poaching activities. A Wildlife Advisory Group comprising environmentalists, forest officials and NGOs is proposed to be set up to oversee the community development effort.

More Stories on : Alliances & Joint Ventures | Tourism | Hotels

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Essar Steel says no hike in prices


NEB to set up software park in Visakhapatnam
USFDA's nod for Ranbaxy tablets
India Inc for review of `falsification of accounts' proposal
UB seeks adjournment in Herbertsons case
Bal Pharma proposes 15 pc dividend, ESOPs
Ministry has open mind on board set-up, holding cos
CII hails concept paper on Company Law
RPG Group drops rubber business consolidation plans
CPCL to set up desalination unit
Rash of resignations in consulting world
Ashok Leyland plans Rs 150-cr foundry
DPSC not keen on equity partner now
Mirza Tanners to set foot in France, Germany
Taj group forays into wildlife tourism — Ties up with CC Africa, Cigen
German co signs pact with CCMB
BPCL, GSPC to ink piped gas supply deal
Sun Pharma, Ipca Labs plants hit by floods
Oil Ministry lukewarm to PSUs diversification — ONGC plans may be hit
Unrelated diversification the new mantra
Keystone India to ramp up operations
Fiat India preparing blueprint for expansion
Ind-Swift to enter critical health care segments
Grasim July cement despatch up
CPDCL chief takes charge



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line