Skip to content

Search

Latest Stories

IHCL signs a record 85 hotels in 2024

The Taj brand added 19 signings, expanding to 125 properties

IHCL signs a record 85 hotels in 2024

TATA GROUP-OWNED INDIAN Hotels Co. Ltd. added 85 hotel signings and opened 40 properties in 2024, growing its portfolio to 360 hotels with 123 more in the pipeline. The Taj brand added 19 new signings, expanding to 125 properties.

IHCL expanded its market position by acquiring a majority stake in Tree of Life and securing a brand license for The Claridges, New Delhi, the company said in a statement.


“This record growth performance is attributed to the continued expansion of the brandscape,” said Suma Venkatesh, IHCL’s executive vice president for real estate and development. “IHCL launched the reimagined Gateway, acquired a majority shareholding in Tree of Life, adding a boutique leisure offering, and entered into a brand license agreement for The Claridges, commencing with the management of the brand’s landmark hotel in New Delhi, extending IHCL’s luxury portfolio."

“In line with IHCL’s Accelerate 2030 strategy, growth remains focused on capital-light initiatives, accounting for 75 percent of the year’s signings,” she said.

IHCL targets a 700-hotel portfolio under its Accelerate 2030 strategy.

Notable 2024 openings included a 90-room Taj resort in Puri, a 118-key SeleQtions property in Tirupati, and new hotels in Munnar, Mahabaleshwar, Jaisalmer, Goa, and Gangtok, the statement said. The Ginger brand added 10 new hotels, along with a new Taj hotel at Cochin International Airport.

“With the recent opening of a Taj at Cochin International Airport, a joint development with CIAL, Taj has expanded its presence at prominent airports, including Mumbai and Bengaluru, with a Taj at New Delhi airport also forthcoming,” said Deepika Rao, IHCL’s executive vice president for hotel openings and new businesses.

IHCL, India’s largest hospitality company by market capitalization, reported consolidated sales of approximately $226.83 million for the quarter ending September 30, reflecting an 18.41 percent increase from $191.56 million in the previous quarter and a 27.64 percent rise from $177.70 million in the same quarter last year. The net profit for the latest quarter was approximately $66.55 million, marking a 232.24 percent surge compared to the corresponding period last year.

The company aims to double its portfolio to more than 700 hotels and reach $1.8 billion in revenue by March 2030. This growth, part of the “Accelerate 2030” strategy, follows 10 profitable quarters, strong cash flows, and zero net debt.

Founded by Jamsetji Tata, Tata Group's founder, IHCL opened its first hotel, The Taj Mahal Palace, in Bombay in 1903. The company now has a portfolio of 360 hotels, including 123 under development, across 4 continents, 13 countries, including the U.S., and more than 150 locations.

More for you

Marriott & Brigade Plan Six New Hotels Across India
Photo credit: Marriott International

Marriott, Brigade eye six hotels across India

Summary:

  • Marriott and BHVL plan six hotels with 940 rooms in four Indian markets.
  • Bengaluru-based BHVL is a subsidiary of Brigade Enterprises Ltd.
  • BHVL recently launched a $101.2 million IPO, including a $14.4 million pre-IPO placement.

MARRIOTT INTERNATIONAL AND Brigade Hotel Ventures Ltd will open six hotels totaling 940 rooms across four markets in India. The projects will be developed under five Marriott Bonvoy brands: The Ritz-Carlton, JW Marriott, Marriott Hotels & Resorts, Courtyard by Marriott and Fairfield by Marriott.

Keep ReadingShow less
Prestige Hospitality Ventures announces $308M IPO to expand luxury Marriott and Hilton hotel portfolio across India

India's Prestige secures $308M IPO approval

Summary:

  • Prestige Hospitality Ventures received SEBI approval for a $308 million IPO.
  • It operates hotels under multiple Marriott International brands.
  • As of December 2024, its portfolio included seven hotels with 1,445 keys.

PRESTIGE HOSPITALITY VENTURES recently received approval from the Securities and Exchange Board of India for a $308 million, or ₹2,700 crore, initial public offering. The company develops and operates luxury to upper midscale hospitality assets and is part of Bengaluru-based Prestige Group, promoted by Prestige Estates Projects.

Keep ReadingShow less
IHCL and Ambuja Neotia unveil $240M plan for 15 luxury hotels in India by 2030
IHCL

IHCL, Ambuja plan 15 new hotels in India

Summary:

  • IHCL and Ambuja Neotia Group aim to develop 15 new hotels across West Bengal, Sikkim and Himachal Pradesh.
  • The projects are expected to be completed by 2030.
  • The expansion aims to boost tourism in East and North-East India.
INDIAN HOTELS CO. Ltd. recently signed a new agreement with the Ambuja Neotia Group to develop 15 additional hotels across West Bengal, Sikkim and Himachal Pradesh. Ambuja will invest approximately $240 million toward executing the projects.

The IHCL and Ambuja Neotia partnership will open Taj resorts in Sunderban and Darjeeling, West Bengal; Shimla, Himachal Pradesh; and Rabong, Sikkim. They will build SeleQtions hotels in Kolkata, West Bengal and Siliguri, West Bengal. A Tree of Life hotel will be built in Lataguri, West Bengal. The expansion will include a mix of greenfield, brownfield and conversion projects, PTI reported.

Keep ReadingShow less
Skill Council and Lalit Suri Hospitality School starts hospitality training in India

Skill council, school take on hospitality training in India

Summary:

  • The Tourism and Hospitality Skill Council and The Lalit Suri Hospitality School signed an MoU to improve hospitality education.
  • The collaboration reflects a broader push to invest in youth training and workforce readiness in India’s hospitality sector.
  • It aims to provide domain knowledge, hands-on training and certifications for domestic and international careers.

THE TOURISM AND Hospitality Skill Council and The Lalit Suri Hospitality School recently signed a memorandum of understanding to improve the quality and reach of hospitality training in India. The collaboration reflects a broader push to invest in youth training and workforce readiness in the sector.

Keep ReadingShow less
Baruasagar Fort and Raja Rani Mahal restored as luxury heritage stays by Neemrana Hotels in India
Photo credit: ANI

Neemrana to restore heritage sites in UP, MP

Summary:

  • Neemrana Hotels is working with Uttar Pradesh and Madhya Pradesh to restore heritage sites.
  • The two sites are Baruasagar Fort in Jhansi, Uttar Pradesh, and Raja Rani Mahal in Chanderi, Madhya Pradesh.
  • Neemrana aims to convert them into “revenue-generating non-hotels.”

INDIA’S NEEMRANA HOTELS recently signed agreements with the governments of Uttar Pradesh and Madhya Pradesh states to restore and adapt heritage structures under a public-private partnership. The two sites are Baruasagar Fort in Jhansi, Uttar Pradesh, and Raja Rani Mahal in Chanderi, Madhya Pradesh.

Keep ReadingShow less