Indian Hotels (IHCL) is on the path to pare non-core/loss making assets and improve its balance sheet & P&L metrics. As part of the restructuring process, the company announced today it has sold its US property, Taj Boston, for ~| 839 crore (US$125 million), the proceeds of which will be used to bring down the debt. IHCL also recently sold a 5.1% stake in Belmond Ltd for ~| 332 crore (US$49.57 million). Further, the company created a 100% offshore subsidiary (IHOCO BV) consisting of eight owned hotels (1584 rooms) across US, UK, Sri Lanka, Maldives that could be used as a channel to improve the liquidity position in future. The company has also highlighted that it has 900 acres of land that can also be utilised for debt reduction significantly. We see these steps towards divestment of loss making hotel properties as a long term positive move for the company, which, in turn, would help improve financial & valuation matrix of the company. Hence, ICICI Securities Limited remain positive on the company and maintain BUY rating and upgraded target price of | 150.Trendlyne has 2 reports on INDHOTEL updated in the last year from 1 broker with an average target of Rs 150. Brokers have a rating for INDHOTEL with 1 upgrade and 1 price upgrade in past 6 months.