Indian Hotels' Stock Surges on Signing Deals for 11 Hotels

Tanushree Jaiswal 7th July 2023 - 06:01 pm

Indian Hotels, the leading hospitality company in India, announced the signing of agreements for 11 new hotels and the opening of five additional hotels across various destinations in the April-June quarter.

The expansion marks a significant milestone for the company, as its portfolio now includes a total of 270 hotels, reinforcing its position as the country's largest hospitality company. Moreover, this growth trajectory aligns with Indian Hotels' vision of operating over 325 hotels by the year 2025.

This fiscal year, the company plans to venture into new areas such as Gangtok in Sikkim, Tawang in Arunachal Pradesh, and Jaisalmer in Rajasthan, while also expanding its portfolio in Mumbai, Kolkata, National Capital Region (NCR), Srinagar, Ahmedabad, Tirupati, Ranthambore, and other locations across the country.

Among the ongoing developments, 70% of Indian Hotels' pipeline comprises fee-based projects, while 7% are owned properties. The remaining 23% operates under operating leases for the Ginger brand, a subsidiary of Indian Hotels.

Indian Hotels has successfully tapped into adjacent categories and re-imagined its existing businesses. TajSATS and Ginger, in particular, have witnessed remarkable success and are poised for a promising future.

With its recent expansion plans and strategic initiatives, Indian Hotels continues to make significant strides in the hospitality industry, solidifying its position as a frontrunner in the market.

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Tanushree Jaiswal

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