MUMBAI, AUGUST 26, 2022.
Indian Hotels Limited
(IHCL), India’s largest hospitality company,
has continued to chart its journey of rapid expansion, with an industry-leading
signing of 50new hotelsin addition
toopening 27 new hotels in the past 24+
months. This period marks IHCL signingthe most number of hotels in Indiain
both, 2020 and 2021,adding over 5,500
keys to its portfolio.
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VAST
FOOTPRINT ENVELOPING THE INDIAN SUB-CONTINENT |
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IHCL has a presence in over 100 locations across India -
Expansive footprint in 31 out of 36 States and
Union Territories in India -
Rich history of pioneering destinations such as Goa, Rajasthan, Kerala, Bhutan, Nepal and more recently, the Andaman
Islands and North-East India -
IHCL is also developing key tourism destinations
such as Diu and Lakshadweep, for which it has recently
received the letter of awards for two hotels in each destination -
The company has continued to develop key tourism
circuits such as the Himalayan, spiritual and safaris circuit -
IHCL is the only Indian hospitality company with
marquee hotels in key global destinations such as London and New York,
in addition to Sri Lanka, Dubai, Maldives and South Africa among others
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DIVERSE
BRANDSCAPE TARGETING MULTIPLE SEGMENTS |
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As envisioned in ourAhvaan 2025 strategy,IHCL aims to expand its current portfolio of 242 hotels to 300 hotels -
Taj, the
iconic luxury brand and the World’s Strongest
Hotel Brand, is slated to grow to 100
hotels -
With a global presence in key markets, the Taj brand offersauthentic Palaces, city
hotels, world-classresorts, serviced residences and safaris -
The Vivanta
and SeleQtionsbrands, offering
contemporary and distinct experiences, respectively, will scale to a
portfolio of 75 hotels -
Ginger –
which is revolutionizing the lean luxe market – will be an important growth
vehicle and will scale to 125 hotels
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‘amã Stays & Trails’, India’s first branded homestay
portfolio, will
scale to500 properties by 2025
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RESPONSIBLE
APPROACH TO GROWTH |
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IHCL will focus on re-structuring
its portfolio
to achieve a 50:50 mix between its
owned/leased and managed hotels, which currently stands at 54:46 -
This will include a
combination of management contracts for Taj, SeleQtions and Vivanta
hotels, while Ginger’s expansion will be driven predominantly through operating
leases -
IHCL will continue to
make smart investments in strategic
assets for long-term growth such as Ginger Santacruz and the two upcoming
hotels in Kevadia -
These investments will be enabled by unlocking capital through strategic partnerships, monetization and simplification -
The focus on maintaining strategic assets will see IHCL retain the iconic Taj Malabar Resort & Spa, Cochin within
its fold |
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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.
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