ITC Hotels hopes to go beyond own target, have 220 hotels by '30
2
Kolkata: ITC Hotels chairman Sanjiv Puri said on Monday that the company aimed to have a portfolio of 220 operational hotels with over 20,000 keys by 2030. He was speaking to shareholders at the first AGM after the demerger of ITC Hotels.
The company had earlier set a target of 200 properties by 2030.
"The company is looking at all opportunities, either through its investments or through management contracts. As far as the roadmap is concerned, what we said when the listing happened was that by 2030, we will have 200 hotels. As we stand today, we believe that this will be easily surpassed and will be 220," he said. Currently, the company has 140 hotels.
The hotel business of the diversified conglomerate ITC Ltd was demerged into ITC Hotels Ltd with effect from Jan 1, 2025.
The equity shares of the company were listed on the NSE and BSE on Jan 29.
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During his speech at the AGM, the first time following the hospitality major's listing on the stock exchanges, Puri said, "We stand today at a transformative juncture as significant opportunities unfold for the tourism and hospitality sector. ITC Hotels is well poised to script a new chapter with sharp strategic focus, enhanced agility, soulful hospitality, and a commitment to long-term value creation."
He said the travel, tourism, and hospitality sector in India is riding a wave of resurgence, with a record Rs 3.1 trillion international visitor spending in 2024. Domestic travel spending reached Rs 15.5 trillion, which is 22% above 2019 levels. "Your company signed 30 management and franchise contracts last year, contributing to a healthy pipeline of 58 hotels with over 5,300 keys and is well on the way to crossing our target of 200 hotels by 2030," Puri said.
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