The group, which witnessed a drop in revenue and fell into the red in the quarter ended June, has approached investment bankers to initiate an exit, the sources said.
There are definite signs of a chill in sales this festive season, in line with the slowdown in consumption.
The luxury hotel market is pinning its hopes for an across-the-board revival in the last quarter of the calendar year after GST was slashed to 18% from 28%.
This year the ParyatanParv is dedicated to commemoration of 150 years of Mahatma Gandhi.
The top court’s decision came following a complaint by an Austrian politician who wanted to remove disparaging comments about her on Facebook.
The India Convention Promotion Bureau (ICPB), which works closely with the tourism ministry on promoting India as an MICE (meetings, incentives, conferences and exhibitions) destination.
Tourism secretary Yogendra Tripathi, I&B secretary Amit Khare, and other senior officers were also present during the occasion.
"You might have had trouble tweeting, getting notifications, or viewing direct messages. We are currently working on a fix and should be back to normal soon," the company stated.
The GST rate for room tariffs of Rs 7,500 and above was reduced to 18% from 28%, while those between Rs 1,000 and Rs 7,500 would have to pay 12%.
Tik Tok said #EduTok was launched as an effort to empower TikTok users to create meaningful and inspiring content around various themes.
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