TBM Staff - Mumbai
Indian Hotels Company (IHCL) continues to maintain its growth momentum in the first quarter of fiscal year 2025, with the signing of 16 new hotels and the opening of 6 properties. This takes IHCL’s total portfolio to 326 hotels, with an industry-leading pipeline of 102 hotels.
Venkatesh, Executive Vice President – Real Estate & Development, IHCL, stated that the Q1 signings reflect the company’s development strategy of accelerating growth and maintaining leadership in the Indian subcontinent. IHCL entered into agreements for new markets, such as a Taj hotel in Kanpur and Panchkula, and a Gateway hotel in Sarnath and Barnala. The company also grew its presence with multiple brands in existing markets, including the signing of Tree of Life resorts in Gangtok and Srinagar, a Taj hotel in Anjuna, Goa, and a Gateway hotel in Sawai Madhopur.
Venkatesh added that IHCL’s brandscape is well-represented across these 16 signings, with a strong response to the re-imagined Gateway brand.
IHCL’s portfolio as of June 30th, 2024, comprises 224 operating hotels and 102 pipeline hotels, totaling 326 properties.
Deepika Rao, Executive Vice President – Hotel Openings & New Businesses, IHCL, stated that the company’s hotel openings in the first quarter have kept pace with their guidance of two hotels per month. This includes foraying into new leisure destinations with a 77-key SeleQtions hotel in Mahabaleshwar and expanding their presence in prominent commercial hubs like Nagpur with an 86-key Ginger hotel and Jamshedpur with a 94-key Vivanta hotel.
Rao also mentioned that in line with IHCL’s asset management strategy, the iconic Taj Malabar Resort & Spa in Cochin was reopened after a comprehensive renovation.
