ITC, Oberoi Vie For Kochi’s Taj Malabar Hotel, Although Tatas Enjoy First Right Of Refusal

One of Kerala’s iconic hotels, the Taj Malabar Resort & Spa in Kochi near Willingdon Island is up for grabs. Cochin Port owns the property built in 1936 and named after the first Viceroy of India, the 1st Earl of Willingdon and, has invited bids. The Taj group which has been managing the property since 1985, is now running it on extension after the expiry of its lease. Cochin Port has invited tenders for a pre-bid meeting for the Port-owned buildings (Malabar Hotel) for a period of 30 years. The last date for submitting the bid is May 6. The Taj group currently pays a lease rental of Rs 71 lakh per annum. Many contenders have lined up for this prestigious property including the likes of ITC Hotels, Oberoi Group and Kerala’s top business names like RP Group, Lulu Group etc. The Malabar Hotel offers stunning views of the Cochin Harbour and the Arabian Sea and can still remain with the Taj Group if they invoke the right of first refusal in the bidding process according to well-placed sources. The Tatas may still retain the property if they match the highest bidder.  A spokesman for the Lulu Group denied being in the race and said that the Group was currently focused on only two properties: the Grand Hyatt at Bolgatthy and Marriott Hotel at Edapally.