IHCL CONTINUES ITS GROWTH MOMENTUM IN Q1 FY2023-24

Indian Hotels Limited (IHCL), India’s largest hospitality company, marks yet another quarter of accelerated portfolio expansion with signing of 11 hotels and opening 5 new hotels across destinations.

Commenting on IHCL’s growth, Ms. Suma Venkatesh, Executive Vice President – Real Estate & Development, IHCL, stated, “Maintaining its industry leading growth, IHCL executed 11 agreements across all its brands in the first quarter. Taj, rated as India’s Strongest Brand 2023 by Brand Finance further strengthened its presence with a 400-room hotel in Delhi and a 120-room hotel in Kochi and entered new markets like Raichak in West Bengal and Dhaka in Bangladesh. Leading in the leisure segment, IHCL signed a SeleQtions in Kumbhalgarh and Naukuchiatal. Vivanta and Ginger, having added new locations to their network are growing at a healthy pace. This sustained expansion is a testament to the strength of our brands making IHCL a preferred partner.”

She added, “In line with Ahvaan 2025, IHCL has achieved a balanced portfolio, enabling maximisation of operating leverage from its owned/leased hotels and enhancing margins from the fee-based managed hotels portfolio. IHCL will continue to pursue responsible profitable growth with a combination of select investments, operating leases and management contracts. Currently 70% of our pipeline is fee based, 7% is owned and balance 23% is under operating leases for the Ginger brand.”

With IHCL’s current portfolio of 270 hotels, the company remains well poised to achieve its vision of 325+ hotels by 2025.

Ms. Deepika Rao, Executive Vice President – Hotel Openings and Corporate Communications, IHCL, said, “Keeping pace with signings, IHCL opened 5 new hotels in the quarter taking the total operating hotels to 191 across brands. IHCL added to its wellness offering with Taj Gandhinagar Resort & Spa and forayed into the temple cities of Jammu and Bhubaneshwar. Kerala’s commercial capital, Kochi will now bring the Ginger experience to a new micro market at MG Road and India’s sunshine state, Goa with multiple IHCL brands will now offer yet another location in Anjuna.”

This fiscal, IHCL will be stepping into Gangtok in Sikkim, Tawang in Arunanchal Pradesh, Jaisalmer in Rajasthan and adding to its portfolio in Mumbai, National Capital Region (NCR), Kolkata, Ahmedabad, Srinagar, Tirupati, Ranthambore among others,

About The Indian Hotels Company Limited (IHCL)
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 India’s Strongest Brand 2023 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 270 hotels including 79 under development globally across 4 continents, 11 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.

Please visit: www.ihcltata.com; www.tajhotels.com; www.seleqtionshotels.com; www.vivantahotels.com; www.gingerhotels.com

For more information, please contact: kirti.dhingra@ihcltata.com