Tata group Chairman Ratan Tata termed Ginger Hotels as "Nano Taj" at Indian Hotels Company's held annual general meeting.
Group company Tata Motors a couple of months back had rolled out Tata Nano, the world's cheapest car.
"Taj Mahal Bombay was the company's flagship property, which was also the highest revenue earner and the Ginger Hotels were in a manner of speaking the Nano Taj," Tata was quoted as saying in the minutes of the meeting filed with the Bombay Stock Exchange.
He was responding to a query as to which is the most prestigious property and the hotel which give the maximum revenue for the Indian Hotels Company.
Replying to another question on why the annual report did not have any coloured pictures, Tata said that it was due to the economic situation.
"The colour pictures in the annual report had been cut off due to the economy drive this year and they were anyway available on the Taj website.
The Annual Report of the company may not have had any coloured photographs because of economy drive, but the Management Discussion and Analysis section of the report also did not revel much information. If one compares the past few year's Management Discussion and Analysis section of the Annual Report, then it becomes clear that Indian Hotels reporting standard is deteriorating. As such when it comes to transperancy and disclosures, The Indian Hotels Company Ltd. fares amongst the bottom of TATA group publicly listed companies. This is increasingly reflected in the company's valuation by the markets.
Content Guide
For the Tata group, which owns the luxury hotels brand Taj, Ginger Hotels are a sort of "Nano Taj" in terms of business.
