Indian Hotels Company Ltd ( IHCL ) has unveiled its ' Accelerate 2030 strategy ' for the next five years. It aims to double its consolidated revenue to Rs 15,000 crore and expand its portfolio to over 700 hotels. The strategy focuses on driving top-line growth, with 75% coming from traditional businesses and management fees, and 25%+ from new and re-imagined businesses.
Puneet Chhatwal , MD & CEO, IHCL, said the company "IHCL remains steadfast in its commitment to realise India's tourism potential, of being the most valued, responsible and profitable hospitality eco-system in South Asia. I will take the clock back five years, then we will talk forward. When you came with your five-year plan, which ends in 2024, Ahvaan, everyone said it was very ambitious.
You achieved it before time. Now you are coming with this plan, everyone is saying it is quite conservative because there is a tailwind in the sector. So, what is right, what is wrong? Was the first plan very optimistic which you delivered or is this one conservative? Puneet Chhatwal: In any journey, you need to have people who believe in the journey, especially people who are within the organisation.
When we first unveiled Aspiration 2022, way back in February 2018, not many believed, but they said, okay, now we have said it so we will do it. Then came COVID, which in hindsight gave confidence. If you could overcome the challenges of zero revenue, lockdown, come back with a bang, and be very prudent with the cost, that give.