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HOTEL : IHCL CONTINUES ITS GROWTH MOMENTUM SIGNS 16 HOTELS AND OPENS 6 HOTELS IN Q1 FY25

TTT NEWS NETWORK

MUMBAI, 4 JULY 2024:

Indian Hotels Company (IHCL), India’s largest hospitality company, continues on its growth momentum of portfolio expansion in Q1 FY 2025 with 16 signings and 6 openings taking its total portfolio to 326 hotels with an industry leading pipeline of 102 hotels.

Speaking on the occasion Ms. Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL said, “Quarter one signings are reflective of our development strategy of accelerating growth and maintaining leadership in the Indian sub-continent. We entered into agreements for new markets like a Taj in Kanpur and Panchkula and a Gateway in Sarnath and Barnala. We grew our presence with multiple brands in existing markets with signing of Tree of Life resorts in Gangtok and Srinagar, a Taj in Anjuna, Goa and Gateway in Sawai Madhopur.”

She added, “IHCL’s brandscape is well represented across these 16 signings including a strong response to the re-imagined Gateway brand.”

IHCL’s PORTFOLIO AS ON  30TH JUNE 2024

Brands Operating Hotels Pipeline Hotels Total
Taj 81 33 114
SeleQtions 23 13 36
Tree of Life 16 0 16
Gateway 8 8 16
Vivanta 30 22 52
Ginger 66 26 92
TOTAL 224 102 326

Ms. Deepika Rao, Executive Vice President – Hotel Openings & New Businesses, IHCL added, “Our hotel openings in the first quarter have kept pace with our guidance of two hotels a month, from foraying into new leisure destinations with a 77 keys SeleQtions at Mahabaleshwar to being present in prominent commercial hubs like Nagpur with an 86 keys Ginger hotel. We also added to our presence in the industrial city of Jamshedpur with 94 keys Vivanta hotel.”

She added, “In line with IHCL’s asset management strategy of protecting the leadership of its iconic hotels, Taj Malabar Resort & Spa, Cochin was reopened after a comprehensive renovation.”

About The Indian Hotels Company Limited:

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 World’s Strongest Hotel Brand 2024 and India’s Strongest Brand 2024 as per Brand Finance; 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 326 hotels including 102 under development globally across 4 continents, 13 countries and in over 130 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is listed on the BSE and NSE.

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