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Taj Hotels to Purchase Ritz-Carlton, BostonNovember 9, 2006 By: David Eisen Travel Agent
Indian hotelier Taj Hotels Resorts and Palaces has signed a definitive purchase agreement to acquire the Ritz-Carlton, Boston, which it will rename the Taj Boston. Taj is buying the property for $170 million from its current owner Millennium Partners, the company announced Thursday. New York-based Galileo Global Advisors is advising Taj Hotels on the transaction, the second time the company has advised the hotelier on an acquisition.