- IHCL wants $315 million from Ginger by 2030.
- Expects $105 million in FY27.
- Had 260 hotels as of July 31, with 165 operational.
INDIAN HOTELS CO. LTD. is targeting $315.1 million in enterprise revenue from its Ginger portfolio by 2030. The brand is expected to exceed $105 million in enterprise revenue in financial year 2027, up from $85.5 million a year earlier.
Ginger had 260 hotels as of July 31, including 165 operational properties and 95 in the pipeline. It has more than 110 locations across India, according to The Economic Times. Enterprise revenue stood at $32 million in the first quarter of financial year 2027.
“With a robust pipeline and non-linear growth momentum, Ginger's enterprise revenue will grow 2.5 to 3 times, reaching $315 million by 2030,” Deepika Rao, executive vice president for the select service business at IHCL, told the Times.
Tata Group-backed IHCL is led by MD and CEO Puneet Chhatwal.
Ginger plans to open hotels in Jorhat and Guwahati, Assam; Patna, Bihar; Kolhapur, Maharashtra; and Kochi, Kerala, in financial year 2027.
Rao said Ginger's growth will be mainly capital-light through operating leases and selective investments, including a 300-key hotel at Mopa, Goa.
IHCL acquired 51 percent stakes in ANK Hotels and Pride Hospitality, with most of their properties to be rebranded as Ginger hotels.
“Currently, 45 percent of Ginger hotels, including the ANK Hotels and Pride Hospitality portfolios, are managed, with the rest predominantly leased,” Rao said. “This mix is expected to remain at about 60:40 between leased and managed properties as we scale through operating leases and management contracts.”
More than 50 hotels in the ANK and Pride portfolios have signed brand migration agreements and are being onboarded into IHCL's brand portfolio following design and product changes, Rao said.
Twenty of these hotels have been migrated, including properties in Hyderabad, Jaipur, Agra and Vadodara.
The migration of all hotels will be completed over the next 12 to 18 months, Rao said. Ginger will also operate “big-box” properties. The Ginger hotel at Mumbai Airport, with 371 keys, generated more than $10.5 million in revenue in financial year 2026, she said.
The Ginger Candolim in Goa, with more than 280 rooms, recorded 75 percent occupancy and $4 million in revenue in its first full financial year. Upcoming Ginger hotels include a 325-key property at Bengaluru Airport, a 300-key hotel at Mopa Airport, a 200-key hotel at Kolkata Airport and a 220-key hotel at Mumbai Airport Terminal 2.
IHCL signed 20 hotels in the first quarter of financial year 2027, taking its portfolio to 645 hotels, including 263 in the pipeline. Ginger's first-quarter signings include hotels in Agra, Goa, Surat, Kolkata and Sindhudurg.
The company reported consolidated revenue of $250.7 million for the quarter ended June 30, up 15 percent from the same period a year earlier.
