India's Tata Group may raise its stake in Bermuda-based Orient-Express Hotels by acquiring shares from the open market 'at the right price', said a report in The Economic Times quoting sources close to the Tata Group.

The reported quoted the source as saying that Tata will, however, not launch a hostile takeover bid for Orient-Express Hotels.

In December 2007, Orient-Express Hotels had rejected an offer for association from Tata Group's Indian Hotels in a letter that said any association with Indian Hotels would result in 'a reduction in the value of our brands and of our business and would likely lead to erosion in the (revenue per available room) premiums'.

Indian Hotels, which recently raised its stake in Orient-Express to 11.5 percent, had proposed such ideas as cross-marketing and luxury holiday packages.

The report quoted the source as saying that the Tatas were in touch with prominent stakeholders in Orient-Express Hotels which include SAC Capital group, the world's fifth-largest hedge fund DE Shaw, , Black Rock which owns 5.2 percent and Dubai Investment Group that has 9.2 percent stake.