IHCL has a stake in OHL both in terms of ownership and management of operations of properties by way of operating agreement. All properties are operated under the brands owned by IHCL (Taj, SeleQtions, Vivanta, Gateway) and offer high level of standardisation in services, experience and products specific to the category under which the particular hotel belongs. Historically, OHL's balance sheet was heavily levered with net debt/EBITDA touching ~7x in FY17. In line with Aspiration 2022 of the IHCL group, the company sold its Vizag property and garnered | 120 crore in 2018. The...