Two of India's best hotels turned into a battleground for three days from November 26.
The horrific assaults killed many Indian and foreign guests and shattered the 100-year-old Taj Mahal hotel's magnificent edifice. The attacks also damaged the Trident (Oberoi) Hotel.
Today, all one can see are horribly damaged hotels that once were awe-inspiring in their magnificence. It is a grim reminder of what Mumbai's most outstanding tourist destination went through in the worst terror attack on India.
The restoration of the badly damaged old Taj Mahal Palace and Tower Hotel in Mumbai is likely to take about 12 months. The new building, however, may open earlier. The Oberoi management has said the hotel would reopen in 10-12 weeks, but this seems unlikely as investigations are still going on.
It is estimated that it would take Rs 500 crore (Rs 5 billion) to restore the Taj back to its old glory. The cost of restoring the Trident (Oberoi) is estimated at around Rs 200 crore (Rs 2 billion).
"The loss from interruption of business for Taj is expected to be in the range of Rs 300 crore (Rs 3 billion). The loss for Trident (Oberoi) is estimated to be around Rs 50-75 crore (Rs 500-750 million) for 3 months," says Parimal Shah, property insurance surveyor.
But will insurance come easily for these companies? It does not seem so. It will be a long and tough battle for the hotels.
Image: A man sweeps the street in front of the Taj Mahal Hotel in Mumbai on November 30, 2008. | Photograph: Pedro Ugarte/AFP/Getty Images
Also read: Businessman who lost their lives
| Live updates on money.rediff.com |
|
Advertisement
