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Tuesday, 03 July, 2018, 11 : 15 AM [IST]

ITC plans to add 2,500 rooms in next five years

As per the PTI report, ITC Limited said it plans to add 2,500 rooms to its hotel segment to take the total inventory to 12,000 in five years from 9,500 now, even as the diversified group mulls foraying into the healthcare space. 

Sanjiv Puri, Managing Director, ITC said the company would invest INR 2,500 crore in the next two to three years in Telangana, among others, to set up an integrated consumer goods manufacturing unit and logistics facility and for the capacity augmentation and efficiency of Bhadrachalam Paperboard. 

He said ITC appointed a committee internally to examine the possibility of foraying into the healthcare space. Once it submitted its report, the Board would examine it and take a final call. 

"Currently we have four brands under ITC hotels. Some are owned and some are managed. We currently have 107 hotels with 9,500 rooms. 

In the next five years we can add another 24 hotels which are at various stages of construction, both owned and managed. It will bring another 2,500 rooms. This would take to roughly 130 hotels with 12,000 rooms," he said. 
ITC's hotel group operates under four distinct brands -- 'ITC Hotel' at the luxury end, 'WelcomHotel' in the 5-star segment, 'Fortune' in the mid-market to upscale segment and WelcomHeritage' in the heritage leisure segment. 

ITC yesterday formally inaugurated ITC Kohenur, a luxury hospitality project at Hitec City, constructed at a cost of INR 775 crore. The hotel has 271 rooms, suites and service apartments. 

Puri said ITC earlier said it would invest INR 25,000 crore over the next five years in various sectors, of which INR 10,000 crore would be invested in food processing. 
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