AIM AT NORTH AMERICA Robert Hogan

Initial appraisals of the real estate of both companies indicated

Belmond and Salamander were similarly valued on a room key (e.g., guest room) basis. Belmond

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has a total of 715 guest rooms while Salamander is larger at 1,378.

Heather was a

lso informed

that the strategic locations of both options were equally valued since Taj would continue to look

for other companies to acquire to balance out its North American holdings.

Heather retrieved

from her bookshelf the textbook she used

during

her

MBA

coursework

titled

Valuation

for

Hotel Investor

s

.

History of the Taj Hotel Group

Established in 1904, Taj Hotels is one of Asia’s largest and finest groups, compris

ed of

108 hotels in 63 locations across India with an additional 17 international ho

tels in the Maldives,

Malaysia, Australia, UK, USA, Bhutan, Sri Lan

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