IHC had acquired the 273-room Ritz-Carlton Boston from Millennium Partners for $170 million in 2006 - and renamed it Taj Boston. In a board meeting held in May, the directors gave their approval to sell Taj Boston for a consideration not lower than $125 million to a third party. Mumbai, July 13: Indian Hotels Company (IHC), the Tata group firm, has sold Taj Boston to AS Holding LLC for $125 million (Rs 839 crore). In January 2007, Taj Hotels had assumed management of the hotel. This was part of a Tata strategy to have more hotels in key destinations across the world.

Source: The Telegraph July 13, 2016 21:10 UTC