Taj group to take over Sea Rock Hotel Mumbai

One of top hotel of 90s, Sea Rock hotel in Bandra, where Bollywood superstar Rekha used to work out and where Salman Khan and Sangeeta Bijlani shared many cups of coffee, is getting a new lease on life. The 440-room property, among the oldest five-star deluxe hotels in suburban Mumbai, is set to become part of the Taj group, as the Tatas are purchasing a majority interest in it.
The Sea Rock is valued at Rs 700 crore to Rs 800 crore. The Sea Rock has been non-functional since it became a target during the March 1993 blasts, which severely damaged its structure. The building is currently being redeveloped. Tata group sources said the current owner of the Sea Rock, the Delhi-based Claridges group which belongs to the Nandas, will continue its association and will be a minority stakeholder in the hotel. The Taj group plans to finance the transaction internally and through borrowings.