The value of Indian Hotels Company's (IHCL) six-year old stake in Orient-Express Hotels has reduced by two-thirds, further narrowing the options India's largest hospitality chain has for the British hotels-to-trains group. IHCL, known best for operating the Taj chain, holds about 7% stake in Orient-Express, which is now worth $86 million based on the NYSE-listed firm's Friday closing price. According to IHCL's latest annual report, its cost of acquisition towards Orient-Express shares was $262 million.

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