Tata's Taj look to sell hotel assets as it braces for slump in economy

The Mumbai-based company's measures to cut costs and liabilities come at a time growth in Asia's third-biggest economy has cooled to a five-year low

The luxury hotel chain controlled by India’s Tata Group is looking to sell some assets and avoid owning new properties in an effort to further pare debt, as it braces for a slump in consumer spending.

Indian Hotels Co. Ltd., Tata’s listed firm that operates the Taj brand, plans to dispose of certain budget inns in the nation’s non-metro areas and lease them back for a fee, Puneet Chhatwal, managing director and chief executive officer said in an interview.

“We are moving our focus to more management contracts rather than constructing hotels of our own,” Chhatwal said. “We have no plans to