The Indian Hotels Company Limited has announced the signing of 50 new hotels and the opening of 27 over the past 24+ months. These moves have grown the company’s portfolio by 5,500 keys across its 242 properties. It is on track to reach a portfolio containing 300 hotels by 2025.
The company is widely present in India and now has properties in 31 out of the 36 states and union territories that make up the country. It currently has over 100 locations in the country and is seeking to develop key tourism destinations like Diu and Lakshadweep as well as tourism circuits such as the Himalayan, spiritual and safari circuits. Beyond its home country, IHCL also has establishments in London, New York, Sri Lanka, Dubai, the Maldives and South Africa.
IHCL is targeting its growth across multiple segments, notably the luxury and lean luxury segments. It plans to grow its luxury brand, Taj, to 100 total hotels. Additionally, amã Stays & Trails, the company’s branded homestay portfolio, is expected to increase to 500 properties by 2025. Growth for its brands such as Taj, SeleQtions and Vivanta will primarily be driven through management contracts. While its Ginger brand will mostly be grown via operating leases. IHCL plans to achieve a 50:50 mix between owned/leased and managed hotels.
IHCL has continued on its trajectory of portfolio expansion in a rapidly evolving hospitality landscape, with two signings each month over the last 24 months. This has been supported by a fast-paced opening of hotels. IHCL is well-poised to meet our goal of a 300-hotel portfolio by 2025, driven by an asset light model to achieve profitable growth. We look forward to the continued support of our owners and partners who have reposed their trust in us.
Puneet Chhatwal, Managing Director & CEO of IHCL
Having the maximum number of signings in India in the past two years is a testament to the power of our brands. IHCL continues to be the preferred partner for investors, enabling us to develop long-term partnerships across multiple projects. The long-term renewal of our agreements is a testament to the stakeholder value IHCL creates.
Suma Venkatesh, Executive Vice-President – Real Estate and Development at IHCL