Summary:
- ITC Hotels posted record quarterly profit and revenue in the first quarter of fiscal 2026, with revenue up 20 percent to $103.2 million and profit up 53 percent to $16.08 million.
- The portfolio has grown to more than 200 hotels, with 143 operational and 58 in the pipeline.
- Welcomhotel Prayagraj, ITC’s seventh property in Uttar Pradesh, includes 60 rooms and banqueting space.
INDIA’S ITC HOTELS posted its highest-ever quarterly profit and revenue in the first quarter of fiscal year 2026, with consolidated revenue up 20 percent to $103.2 million and profit rising 53 percent to $16.08 million, according to a Times of India report. Meanwhile, ITC launched Welcomhotel Prayagraj in Uttar Pradesh, bringing its total to seven properties in the state, with six more in the pipeline.
The company's portfolio has grown to more than 200 hotels, with 143 operational and 58 in the pipeline, the Times said, citing a company statement. Over the past 24 months, it recorded 55 signings and 25 openings.
ITC is targeting 220 operational hotels and over 20,000 keys by 2030, the statement said. Its asset-right strategy aims to drive capital-efficient growth through partnerships with asset owners, leveraging brand credentials and providing operational expertise. Its presence has expanded to tier 2 and tier 3 cities, where demand for premium hospitality is rising.
It presently has 58 hotels in the pipeline with more than 5,300 keys.
ITC Ltd demerged its hotel business into a separate entity, ITC Hotels Ltd, effective Jan. 6, enabling both companies to pursue separate growth paths.
Welcomhotel Prayagraj
ITC Hotels’ Welcomhotel Prayagraj is operated under a management contract, aligns with the company’s asset-right strategy. The property features 60 rooms and suites with city views, along with indoor and outdoor banqueting spaces for weddings, gatherings and corporate events, ITC said in a statement.
“It is with great pride that we unveil Welcomhotel Prayagraj in a city of profound cultural and spiritual significance,” said Anil Chadha, ITC’s managing director. “This expansion not only strengthens our footprint in Uttar Pradesh but also reflects our commitment to delivering meaningful hospitality experiences—celebrating the region’s heritage while upholding the highest standards of service. Prayagraj, with its enduring appeal and spiritual depth stands as a beacon of India’s rich history and offers a destination that resonates deeply.”
Prayagraj, located near the confluence of the Ganga, Yamuna and Saraswati rivers, reflects India’s spiritual and intellectual heritage, the statement said. The hotel is close to key sites including the ghats of Triveni Sangam and Allahabad Fort. It offers guided heritage walks, spiritual trails to Shri Bade Hanuman Ji Mandir and excursions to Khusro Bagh and the Kumbh Mela grounds.
JK Agrawal of the Owning Board said the project marks a milestone, combining their vision for the city with ITC Hotels’ expertise in hospitality.
“Our purpose has always been to create developments that serve travelers and contribute to the local community and economy,” he said. “This hotel reflects that belief, a recognition of the city’s identity, with a promise of quality and care.”
In January, the company reportedly planned to expand internationally, targeting neighboring countries and West Asia.
