The promoters of ANK Hotels, Pride Hospitality and Brij Hospitality come from the Clarks Hotels family, IHCL said in a statement.
“India’s hospitality sector has witnessed sustained demand momentum over the last three fiscal years, reflective of the country’s growing economic prominence and rising discretionary spends,” said Puneet Chhatwal, IHCL’s managing director and CEO. “The outlook for the sector remains buoyant as demand outpaces supply and India continues to be an under-served hospitality market, especially in the mid-market segment. Our partnership with ANK, Pride and Brij Hospitality is a multipronged approach addressing India’s heterogeneous market landscape and is in line with IHCL’s five-year road map ‘Accelerate 2030’ of unlocking India’s tourism potential.”
ANK Hotels and Pride Hospitality operate 135 midscale hotels across 110 locations under The Clarks Hotels & Resorts brand, the statement said. These will be integrated into IHCL’s portfolio, mainly under the Ginger brand. Brij Hospitality’s 19 properties will add to IHCL’s presence in the boutique and experiential segment.
“Furthering IHCL’s presence in the midscale segment with the transformation of Ginger, this partnership doubles our portfolio to over 240 hotels addressing the needs of the aspirational traveller,” Chhatwal said. “Expanding our brandscape, the strong brand equity of Brij Hotels in India’s cultural and historical centres extends our offering in the experiential boutique luxury segment. With their legacy and hospitality expertise, the key managerial personnel of ANK, Pride and Brij Hospitality will continue to oversee the running of the respective companies, providing business continuity and enabling future growth.”
The transaction supports IHCL’s asset-light strategy, with most new properties under management contracts or operating leases. It advances the company’s ‘Accelerate 2030’ goal of expanding India’s tourism potential and broadens its presence from midscale to boutique luxury.
Ankur Dalwani, IHCL’s executive vice president and chief financial officer, said the company will fund the investment through internal accruals, supported by strong cash flows.
“The primary investment will be used to unlock value in existing assets and fuel future growth opportunities,” he said.
Meanwhile, Tata Sons recently launched a hospitality platform to support IHCL, allowing it to operate group-owned hotels on a revenue-share model while remaining asset-light. The first project is a 195-room Ginger hotel under construction near Kolkata airport.
“Together with IHCL, we carry forward the shared vision of our respective founders, Jamsetji Tata and Babu Brijpal Das Ji, in shaping and propelling India’s tourism journey," said Anant Apurv Kumar and Udit Kumar, founders of Brij Hotels and promoters of Clarks Group. "IHCL’s legacy of showcasing Indian hospitality to the world resonates with our core objective at Brij Hotels – to immerse travellers in the spirit of India’s most storied destinations. Together, we will blend IHCL’s century-old tradition with our experiential approach, creating journeys that honour our shared heritage, nurture local communities and reveal India in its most significant form. We extend our gratitude to Vijay Thacker from Horwath HTL for helping facilitate this strategic alliance.”
“It is with great enthusiasm that we move forward to new vistas with India’s largest hotel group,” said Anoop Kumar, founder of ANK Hotels. “Our forefathers, who sowed the seeds of the hospitality sector in India in 1947, will be proud.”
IHCL and Ambuja Neotia Group recently announced plans to open 15 hotels across West Bengal, Sikkim and Himachal Pradesh over the next five years.
