Indian Hotels clarifies leasehold, not ownership, of NYC's The Pierre

The Indian Hotels Company Limited (IHCL) today, September 18, 2025, responded to a news article in the Times of India titled "Taj may exit NYC's Pierre in $2bn deal." IHCL clarified that it does not own The Pierre, New York.

The company stated that it holds leasehold rights for the hotel, and operations at The Pierre are continuing as usual. IHCL emphasized that recent media reports suggesting otherwise are misleading and speculative.

IHCL affirmed its commitment to the highest standards of governance and disclosure. The company stated that any material information requiring disclosure would be promptly disseminated to stock exchanges.