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Oriental Hotels Limited (OHL), a Taj group hotel arm, was incorporated in the year 1970 as a public limited company. The Group’s principal activities are to own and operate hotels and restaurants. Taj Coromandel, Chennai is the flagship hotel of the company. It is first Five Star Luxury Delux Hotel in the city.
The different units of the group are, Taj Coromandel, Chennai, Taj Fisherman's Cove, Covelong, Taj Malabar, Kochi, Taj Garden Retreat, Madurai, Taj Garden Retreat, Coonoor, Taj Residency, Visakhapatnam and Hotel Manjarun, Mangalore.
Taj Coromandel, Chennai- A choice of 205 elegantly appointed rooms including 22 opulent suites. The hotel offers complete wireless internet connectivity, cyber butlers, a wide range of distinctive dining options, and more.
Fisherman's Cove- A choice of 205 elegantly appointed rooms including 22 opulent suites. The hotel offers complete wireless internet connectivity, cyber butlers, a wide range of distinctive dining options, and more.
The boards of Oriental hotels and Covelong Beach Hotels on October 26,2001 approved a proposal to merge the three - Oriental hotels (OHL), Covelong Beach Hotels and Coromandel Hotels.
Oriental and Covelong Beach were listed companies though the latter is not traded. Coromandel Hotels is a 100% subsidiary of OHL. The proposed swap ratio was of two shares of OHL for every five hares of Covelong Beach. Post the merger, the Taj group holds 34.5% of OHL.
The merger enhanced shareholder value for OHL shareholders and increased the asset base, net worth, operating profits and earnings per share (EPS). The merger also provided greater liquidity to the Covelong Beach Hotel shareholders, since the OHL stock is traded on the exchanges.
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