New Delhi: Indian Hotels Company Ltd (IHCL), which owns the Taj group of hotels, has identified 13 key international cities to expand its global network including Beijing and Shanghai and has decided to create ‘unique value hotel chains’ to expand its domestic portfolio.

Simultaneously, it plans to exit from those properties which does not add value to its business to make the company ‘asset-light.’

"The main route of expansion is through franchise and management agreement. We may, however, pick up a minority equity stake in individual properties depending on its importance and strategic location," the newly appointed Taj group managing director Raymond N Bickson said.

The major regions identified for international expansion of Taj group include Middle East, Asean countries, Europe and North America. "Some of the key destinations are Doha, Qatar, the UAE, Beijing, Shanghai, Indonesia, Thailand and Bali. We want to be present in the key cities of Indian Ocean Rim. The beginning is made by opening of the Taj Exotica in Mauritius," he said.

The company is focusing on management agreement with individual property owners as strategy of growth, rather than investing in properties. "We will take management of property only in the high-end segment with a condition that the property will be branded as the Taj hotel," he said.