~ On Track to Achieve 300 Hotels Portfolio by 2025 with Industry – Leading Signing of 50 Hotels
~ And Opening of 27 Hotels in 24+ Months
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, 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.