India Hospitality Corporation Plc Board Appointment

20 Sep 2006 14:32

India Hospitality Corporation (LSE:IHC), the AIM-listedspecial purpose acquisition vehicle focusing on hospitality, leisure,tourism, travel and related businesses in India, is pleased toannounce the appointment of Rajeev Talwar (51) to the Board as aDirector. The appointment is effective immediately.£ Mr Talwar was until recently Additional Director General (Ministryof Tourism) for the Government of India and also Chairman and ManagingDirector of the India Tourism Development Corporation, which managesgovernment owned hotels, travel agencies and duty free shops. He wasalso Chief Executive Officer of the National Council for HotelManagement and Catering Technology.£ Prior to joining the Ministry of Tourism, Mr Talwar was assignedto the Delhi Government where he managed many portfolios. He was thePrincipal Secretary Transport and Tourism through 2004. He was earlierSpecial Commissioner Transport in 2001. He was a Director on the Boardof the Delhi Metro Rail Corporation in 2001 as well as through 2004.He was Managing Director and Chief Executive Officer of Delhi Tourismfrom August 2001 to December 2003 where he was responsible for theimplementation of the entire tourism policy of Delhi. He was alsoSecretary Environment in 1999-2000 and Secretary Information andPublic Relations Department from June 1999 to January 2005. From July2004 till January 2005 he was also Chairman and Managing Director ofDelhi Transportation Corporation.£ Mr Talwar has been in the Indian Administrative Service (IAS)since his induction in 1978. During his 28 year career he has hadextensive experience at senior management level, being involved inpolicy making as well as having widespread field experience. Hisextensive career includes experience in civil aviation, tourism,labour, shipping, roads, inland waterways, coal and food processing.As a result of his position, Mr Talwar has had exposure to managementof a large number of public and private sector enterprises along withstatutory bodies in the transport, tourism and infrastructure sectors.£ Mr Talwar holds a B.A. (Honours in History) and M.A. (History)from St. Stephen's College, Delhi.£ Commenting on the appointment, Jason Ader, Chairman and ChiefExecutive said:£ "We are delighted to announce Rajeev's appointment to the Board ofIndia Hospitality Corporation. We are confident that his impressivebreadth of knowledge, skills and experience across Government andCorporate life will greatly assist us in our future development." £ No further information falls to be disclosed under the AIM rules. £ Notes to Editors £ India Hospitality Corp. ("IHC") is a Special Purpose AcquisitionCorporation (SPAC) created to partner with a privately ownedhospitality related business in India. The recent $100m fundraising onAIM makes IHC the largest SPAC focused on fast growing Indian citiesand top tourist destinations in India.£ The management team is headed by Jason Ader, who has a proventrack record in hospitality sector investment and research and waspreviously Senior Managing Director with Bear Stearns & Co beforefounding New York based investment manager Hayground Cove. Copyright Business Wire 2006