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Time of India
11-08-2025
- Business
- Time of India
ITC Hotels hopes to go beyond own target, have 220 hotels by '30
1 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. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata 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. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
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Business Standard
18-07-2025
- Business
- Business Standard
ITC Hotels plans to expand portfolio to over 220 operating units by 2030
ITC Hotels Ltd is aiming at expanding its portfolio to over 220 operating units with more than 20,000 keys by 2030, its latest annual report said. According to the annual report for 2024-25, the company plans to accelerate its growth through management contracts and franchise arrangements. Approximately, 70 per cent of the keys are being operated under management contracts, including franchising, it said. Spun into a separate entity after the demerger from ITC Limited, the company owns brands like ITC Hotels, Mementos, WelcomHotel, Storii, Fortune and WelcomHeritage. "Having achieved considerable scale and market standing, the business pivoted into an asset right strategy to drive growth and reduce the capital intensity of operations," the company said. The focus was also on strong partnerships with asset owners, leveraging brand credentials and providing operational expertise, ITC Hotels said in the report. In the last two years, 30 hotels have been launched under the ITC Hotels brand portfolio, out of which 29 are managed and franchised properties in India and Nepal. The company has a robust pipeline of hotels with a high prominence of brownfield assets, which are likely to open in the next four years. Presently, the company is amongst the "fastest growing" hospitality chains in the country with more than 140 properties and over 13,300 rooms under its six brands, the report said. In 2024-25, the Indian hospitality industry sustained its strong growth momentum, which was driven by economic stability and robust domestic demand outpacing supply, aided by the government's thrust on improving infrastructure and connectivity in the country. With over two lakh keys across the country covering various segments, India still remains significantly underpenetrated in comparison to the global hospitality industry, the report said.
Time of India
18-07-2025
- Business
- Time of India
ITC Hotels plans to expand portfolio to over 220 units by 2030
ITC Hotels Ltd is aiming at expanding its portfolio to over 220 operating units with more than 20,000 keys by 2030, its latest annual report said. According to the annual report for 2024-25, the company plans to accelerate its growth through management contracts and franchise arrangements. Explore courses from Top Institutes in Select a Course Category Design Thinking healthcare PGDM Healthcare Degree Finance CXO Leadership Data Analytics Public Policy others Digital Marketing Data Science Cybersecurity Technology Artificial Intelligence Operations Management Others Data Science Management MBA Project Management Product Management Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Approximately, 70 per cent of the keys are being operated under management contracts, including franchising, it said. Spun into a separate entity after the demerger from ITC Limited , the company owns brands like ITC Hotels, Mementos, WelcomHotel, Storii, Fortune and WelcomHeritage. "Having achieved considerable scale and market standing, the business pivoted into an asset right strategy to drive growth and reduce the capital intensity of operations," the company said. Live Events The focus was also on strong partnerships with asset owners, leveraging brand credentials and providing operational expertise, ITC Hotels said in the report. In the last two years, 30 hotels have been launched under the ITC Hotels brand portfolio, out of which 29 are managed and franchised properties in India and Nepal. The company has a robust pipeline of hotels with a high prominence of brownfield assets, which are likely to open in the next four years. Presently, the company is amongst the "fastest growing" hospitality chains in the country with more than 140 properties and over 13,300 rooms under its six brands, the report said. In 2024-25, the Indian hospitality industry sustained its strong growth momentum, which was driven by economic stability and robust domestic demand outpacing supply, aided by the government's thrust on improving infrastructure and connectivity in the country. With over two lakh keys across the country covering various segments, India still remains significantly underpenetrated in comparison to the global hospitality industry, the report said.
Time of India
16-07-2025
- Business
- Time of India
ITC Hotels Q1 results: Net profit surges 53% YoY to Rs 134 crore; revenue rises 15.5% YoY to Rs 816 crore
Hospitality major ITC Hotels Ltd on Wednesday reported a 53% rise in consolidated net profit to Rs 133.71 crore for the June quarter, up from Rs 87.16 crore in the year-ago period, driven by strong growth in room and food service revenues. Tired of too many ads? go ad free now The hotel arm of ITC said it is targeting to operate 220 hotels and over 20,000 rooms by 2030. It has already crossed the milestone of 200 hotels, with 143 operational and 58 in the pipeline, PTI reported. Revenue from operations in Q1 rose 15.5% to Rs 815.54 crore from Rs 705.84 crore in the same quarter last year. Total expenses climbed to Rs 674.97 crore from Rs 596.41 crore. "The average daily rate (ADRs) for the quarter grew by 9% and occupancy by 275 basis points, resulting in overall RevPAR growth of 13%." the company said in a statement. Food and beverages revenue also rose 13%, driven by banqueting and outdoor catering. During the quarter, ITC Hotels signed eight new properties with around 700 keys at locations including Bodhgaya, Goa, Lucknow, Mysore, and Vrindavan. It currently operates over 13,400 rooms under six brands—ITC Hotels, Mementos, Welcomhotel, Storii, Fortune, and WelcomHeritage. The company said its pipeline includes 58 hotels with over 5,300 keys, with a high share of brownfield assets. It acknowledged a temporary impact from geopolitical developments in May 2025, but noted that the sector 'bounced back progressively thereafter.' On the outlook, ITC Hotels said, 'A favourable demographic profile, steady domestic demand and rising consumption levels augur well for the hospitality industry in India.' It added that room demand is expected to outpace supply over the coming years, and government initiatives in infrastructure and tourism will continue supporting the sector's growth.
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Business Standard
16-07-2025
- Business
- Business Standard
Q1 results today: ITC Hotels, Tech Mahindra, L&T Tech among 19 on July 16
Q1 FY26 company results: Reliance Industrial Infrastructure, Kalpataru, Angel One, and Lotus Chocolate will release their earnings report for the April-June quarter on July 16 New Delhi ITC Hotels Ltd, L&T Technology Services, Reliance Industrial Infra, and Tech Mahindra will be among 19 companies to release their earnings report for the first quarter (Q1) of the financial year 2025-26 (FY26) on Wednesday. Tech Mahindra Q1 preview Tech Mahindra is expected to report a sequential decline in both revenue and net profit for the June quarter, impacted by seasonal headwinds and continued weakness in key business segments. Analysts tracked by Business Standard estimate the company's net profit will fall 0.80 per cent sequentially to ₹1,184.50 crore for the first quarter of FY26. Revenue is projected to decline 0.12 per cent quarter-on-quarter to ₹13,367.58 crore, as muted recovery in the telecom and manufacturing verticals continues to weigh on overall performance. According to analysts, these headwinds are likely to more than offset the tailwinds from new deal ramp-ups. However, margins are expected to improve, supported by rupee depreciation and cost optimisation measures. On a year-on-year basis, revenue is likely to rise by 2.78 per cent, while net profit is expected to see a sharp increase of 39.11 per cent. Deal closures during the quarter are projected to range between $600 million and $800 million. Market overview for July 16 Benchmark indices Sensex and Nifty are expected to be guided today by a host of domestic and global cues, including first-quarter earnings, US President Donald Trump's latest tariff announcement on Indonesia, June inflation data from the US, trends in institutional investments, primary market activity, and overall weakness in global markets. On Tuesday, July 15, the domestic markets closed higher. The BSE Sensex rose by 317.45 points, or 0.39 per cent, to settle at 82,570.91. The NSE Nifty50 gained 113.50 points, or 0.45 per cent, ending the session at 25,195.80. Meanwhile, Asia-Pacific markets were trading mixed on Wednesday after President Trump announced a preliminary trade agreement with Indonesia. As of the latest count, Japan's Nikkei was up 0.11 per cent, while the broader Topix index was flat with a negative bias. South Korea's Kospi declined 0.53 per cent, and Australia's ASX 200 fell 0.73 per cent. Investors are also closely watching the policy decision expected later in the day from Indonesia's central bank. At around 7:00 am on July 16, GIFT Nifty futures were trading 88 points lower at 25,178, suggesting a negative start for domestic equities. List of firms releasing Q1 FY26 results on July 16 1. Angel One Ltd 2. Axtel Industries Ltd 3. D. B. Corp Ltd 4. Heubach Colorants India Ltd 5. ITC Hotels Ltd 6. Le Travenues Technology Ltd 7. JTL Industries Ltd 8. Kalpataru Ltd 9. Lotus Chocolate Company Ltd 10. L&T Technology Services Ltd 11. Onward Technologies Ltd 12. Oriental Hotels Ltd 13. Reliance Industrial Infrastructure Ltd 14. Switching Technologies Gunther Ltd 15. TANFAC Industries Ltd 16. Tech Mahindra Ltd 17. Tree House Education & Accessories Ltd 18. Twin Roses Trades & Agencies Ltd 19. Varun Mercantile Ltd
