The Indian Hotels Company Limited (IHCL) on November 19 announced that it is looking to double the number of hotel properties to over 700 from its current portfolio of 350 hotels, the company’s Managing Director and CEO Puneet Chhatwal said on November 19. The company currently operates several brands under the IHCL umbrella including Taj, Ginger, Vivanta, Taj Sats, Gateway, Qmin, amã Stays & Trails and Tree of Life among others. According to the company, it will expand its brandscape with the launch of new brands, tapping the heterogeneous market landscape and taking its portfolio to 700 hotels by 2030.
It also plans doubling its consolidated revenue to ₹ 15,000 crores, scaling new and re-imagined businesses. At present, IHCL has 350 hotels with 232 operational. Under the five year plan, it is taking up the number of hotels to over 700 with more than 500 operational.
“IHCL has surpassed its guidance by achieving a portfolio of 350 hotels, with over 200 hotels in operation and delivered ten consecutive quarters of record financial performance. This strong performance, coupled with a robust balance sheet, positions us well to accelerate our growth momentum," Chhatwal said. Also read: Hilton signs licensing agreement with Olive by Embassy to bring 150 Spark by Hilton hotels to India "Enabling this vision are long term structural tail winds for the sector including India’s forecasted GDP growth of over 6.
5%, government’s continued focus on infrastructure spend, hotel.