Indian Hotels Co Ltd, the Tata Group hospitality chain that owns the Taj brand, is acquiring a 55 per cent stake from the Ambuja Neotia group in a company that operates resorts under the ‘Tree of Life’ brand.

The deal, valued at ₹18 crore, further strengthens the growing relation between IHCL and Ambuja Neotia, which has built seven hotels and resorts that the Tata hospitality arm operates.

Ambuja had acquired the Gurgaon-based company Rajscape Hotels Pvt Ltd, which operates the Tree of Life resorts, for an undisclosed sum in November 2023.

Later, Ambuja entered into an exclusive marketing deal with IHCL to sell inventory for Tree of Life Resorts.

Rajscape operates 16 hotels and resorts and it has two projects under development. It posted a turnover of ₹23.44 crore and a loss of ₹1.05 crore in FY24.

IHCL managing director and CEO Puneet Chhatwal said IHCL plans to scale up the Tree of Life brand to 100 properties by 2030.

Harshavardhan Neotia, chairman of the Ambuja Neotia group, added: “We are delighted to welcome IHCL to our newest venture taking our collaboration to the next level.”