|Indian Hotels Limited (IHCL), India’s largest hospitality company, has continued to chart its journey of rapid expansion, with an industry-leading signing of 50 new hotels in addition to opening 27 new hotels in the past 24+ months. This period marks IHCL signing the most number of hotels in India in both, 2020 and 2021, adding over 5,500 keys to its portfolio.|
Commenting on IHCL’s accelerated growth, Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, stated, “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.”
Suma Venkatesh, Executive Vice President – Real Estate and Development, IHCL, further added, “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.”
IHCL will look to strengthen its presence in key global markets that have substantial customer crossover with India, through strategic partnerships. The recent opening of Taj Exotica Resort & Spa in Dubai is in line with this vision.
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as the World’s Strongest Hotel Brand and India’s Strongest Brand as per Brand Finance Hotels 50 Report 2022 and India 100 Report 2022, respectively; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 242 hotels including 61 under development globally across 4 continents, 11 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.