Taj Hotels eyed to take over Pierre hotel management

05/19/2005 | Wall Street Journal, The

Residents who live in apartments at New York's luxury Pierre hotel are working to bring in Indian hotel management company Taj Hotel Resorts & Palaces to replace Four Seasons Hotels, which has reportedly expressed interest in getting out of its lease. Under the unusual management deal, Four Seasons provides hotel-like amenities to guests and residents, including room service and housekeeping, but the company has lost millions during the past few years due to high costs.

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