The Indian Hotels Company Limited (IHCL) has clarified its position regarding The Pierre, New York, following recent media reports. IHCL confirms it does not own The Pierre but holds leasehold rights for the hotel. Operations continue as usual. Recent media reports stating otherwise are misleading and speculative. IHCL emphasizes its commitment to high governance and transparent disclosures.
Clarification on Media Reports
IHCL has addressed recent news articles regarding the status of The Pierre, New York. These articles suggested a potential change in ownership or control.
IHCL’s Position on The Pierre
To clarify, IHCL states it does not own The Pierre, New York. However, the company does possess leasehold rights for the property. Hotel operations are continuing normally.
Commitment to Transparency
IHCL emphasizes its commitment to maintaining the highest standards of governance and ensuring all material information is promptly communicated to stakeholders. The company aims to address any misinformation and provide accurate updates to the market.
Source: BSE
