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Economic Times
4 days ago
- Business
- Economic Times
Branded residences in India: Luxury hotel chains expand their market presence
Synopsis India's branded residences market is gaining traction, attracting major players like Marriott, ITC, Wyndham, and Radisson. These companies are exploring opportunities across various locations, driven by demand from HNWIs and NRIs for luxury, service-oriented living. The sector is projected to grow significantly, with brands leveraging their hospitality expertise to offer premium residential experiences. Agencies Marriott International, ITC Hotels, Wyndham Hotels & Resorts and Radisson Hotel Group are among a growing suite of companies pursuing branded residence opportunities in India. Add to the list two big Italian names—a luxury fashion house with interests in apparel and home furnishings and a luxury lifestyle major that's into real estate and hospitality. ITC Hotels MD Anil Chadha told ET this week it's in talks to enter the segment in India. Nandivardhan Jain, founder and CEO of Noesis Capital Advisors, said his company has undertaken over 17 feasibility studies for branded residences over the past two quarters, with half of these projects in advanced discussions for locations such as Mumbai, Delhi NCR, Bengaluru, Chennai, Goa, Solan, Coorg and Chikmagalur. The global branded residences market is valued at $60 billion, with Asia accounting for 42% of this. India, where the market is still nascent, has an 8% share of Asia's branded residence market, ranking among the top six countries in the region by market value. Such residential projects are typically established by, or in association with, luxury hospitality and fashion brands. These homes offer prestige addresses and brand-linked standards to go with them, along with premium pricing. Some may have brand's hotels adjoining the property. Jain estimates India's branded residence sector is projected to grow by 60% over the next five years, reflecting the appetite for luxury and service-oriented living, particularly among highnet-worth individuals (HNWIs) and non-resident Indians (NRIs).ITC is considering leveraging its boutique brand Storii. 'We are exploring if we can build Storii villas around a Storii property. In the Welcomhotel space, we are exploring opportunities for residences,' Chadha added. Marriott International is 'actively' exploring opportunities to expand its branded residence portfolio across the country through 15 brands. These include JW Marriott, St Regis, Marriott, Westin, Sheraton and The Ritz-Carlton, said Penny Trinh, vice president for mixed use development at Marriott International, Asia Pacific (excluding China).'We are in discussions for several new locations that align with our strategic vision and brand standards, including both tier 1cities and established lifestyle destinations,' she first of these, under the Westin brand, is expected to be launched by Marriott International and is anticipated to be completed in 2031. Developed by Whiteland Corp, this Westin Residences project is expected to be the biggest globally under the per the official Whiteland Westin Residences website, prices for three-bedroom units start at Rs 5.85 crore. Radisson Hotel Group is also examining opportunities in markets such as Jaipur, Goa and other tier 1destinations for branded residences, said Nikhil Sharma, MD and COO for South Asia at the chain. Radisson is 'well-positioned' to introduce this model in India, given its global experience in managing branded residences in markets such as Dubai and Istanbul, he said. 'Our aim is to integrate hotelgrade services into premium residential living, providing homeowners with access to concierge, wellness, housekeeping, and curated dining experiences,' Sharma said. 'We are evaluating brands such as Radisson Blu and Radisson Collection to ensure consistency in quality and service delivery.'International lifestyle brands that have achieved success in West Asia are also pursuing opportunities, said Deepak Jain, founder of Mayfair Consultants. Currently, we are assessing projects ranging from 60-120 apartments for locations such as Goa, Gurugram, Greater Noida and Mumbai,' he said. Dimitris Manikis, president of the EMEA region at Wyndham Hotels & Resorts, told ET last month that he's keen to explore possibilities in the space in India, perhaps lower down the price range.
Time of India
4 days ago
- Business
- Time of India
Branded residences in India: Luxury hotel chains expand their market presence
Marriott International , ITC Hotels , Wyndham Hotels & Resorts and Radisson Hotel Group are among a growing suite of companies pursuing branded residence opportunities in India. Add to the list two big Italian names—a luxury fashion house with interests in apparel and home furnishings and a luxury lifestyle major that's into real estate and hospitality. ITC Hotels MD Anil Chadha told ET this week it's in talks to enter the segment in India. Nandivardhan Jain, founder and CEO of Noesis Capital Advisors, said his company has undertaken over 17 feasibility studies for branded residences over the past two quarters, with half of these projects in advanced discussions for locations such as Mumbai, Delhi NCR, Bengaluru, Chennai, Goa, Solan, Coorg and Chikmagalur. The global branded residences market is valued at $60 billion, with Asia accounting for 42% of this. India, where the market is still nascent, has an 8% share of Asia's branded residence market, ranking among the top six countries in the region by market value. Such residential projects are typically established by, or in association with, luxury hospitality and fashion brands. These homes offer prestige addresses and brand-linked standards to go with them, along with premium pricing. Some may have brand's hotels adjoining the property. Jain estimates India's branded residence sector is projected to grow by 60% over the next five years, reflecting the appetite for luxury and service-oriented living, particularly among highnet-worth individuals (HNWIs) and non-resident Indians (NRIs). ITC is considering leveraging its boutique brand Storii. 'We are exploring if we can build Storii villas around a Storii property. In the Welcomhotel space, we are exploring opportunities for residences,' Chadha added. Marriott International is 'actively' exploring opportunities to expand its branded residence portfolio across the country through 15 brands. These include JW Marriott, St Regis, Marriott, Westin, Sheraton and The Ritz-Carlton, said Penny Trinh, vice president for mixed use development at Marriott International, Asia Pacific (excluding China). 'We are in discussions for several new locations that align with our strategic vision and brand standards, including both tier 1cities and established lifestyle destinations,' she added. The first of these, under the Westin brand, is expected to be launched by Marriott International and is anticipated to be completed in 2031. Developed by Whiteland Corp, this Westin Residences project is expected to be the biggest globally under the brand. As per the official Whiteland Westin Residences website, prices for three-bedroom units start at Rs 5.85 crore. Radisson Hotel Group is also examining opportunities in markets such as Jaipur, Goa and other tier 1destinations for branded residences, said Nikhil Sharma, MD and COO for South Asia at the chain. Radisson is 'well-positioned' to introduce this model in India, given its global experience in managing branded residences in markets such as Dubai and Istanbul, he said. 'Our aim is to integrate hotelgrade services into premium residential living, providing homeowners with access to concierge, wellness, housekeeping, and curated dining experiences,' Sharma said. 'We are evaluating brands such as Radisson Blu and Radisson Collection to ensure consistency in quality and service delivery.' International lifestyle brands that have achieved success in West Asia are also pursuing opportunities, said Deepak Jain, founder of Mayfair Consultants. Currently, we are assessing projects ranging from 60-120 apartments for locations such as Goa, Gurugram, Greater Noida and Mumbai,' he said. Dimitris Manikis, president of the EMEA region at Wyndham Hotels & Resorts, told ET last month that he's keen to explore possibilities in the space in India, perhaps lower down the price range.
Time of India
03-08-2025
- Business
- Time of India
Optimal time to open, grow hospitality brands in India: ITC Hotels MD
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Heightened investor interest and evolving customer needs have made it the optimal time to open and expand new hospitality brands in India , said Anil Chadha, MD, ITC Hotels "India is going through a phase, and it's not just large corporates and big-ticket investors who would be able to afford hotels anymore. A chain like ours straddles across segments to cater to all kinds of customer needs, as they changed post the Covid-19 pandemic," Chadha told ET in an interview. "You could build a 50-room or a 30-room hotel depending on the brand and your propensity to earn in a city. If somebody came to us three years ago and said I want you to manage our 30-room hotel, we would have said no. But today, we see a need," he conglomerate ITC's hotel business was demerged effective January 1, spawning a separate listed hospitality entity. Shares of ITC Hotels started trading on the stock exchanges on January said ITC Hotels is exploring opportunities to take its famed Bukhara dining brand overseas. It is also in talks to enter the branded residences segment."With our quality of service, we can add value to the branded residences space, and we are in discussions. It's not just about the luxury segments," he said."For instance, we also have our boutique brand Storii as a concept, and we are exploring if we can build Storii villas around a Storii property. In the Welcomhotel space, we are exploring opportunities for residences," he Hotels reported consolidated revenue from operations of '816 crore for the quarter ended June, up 16% year-on-year. Profit surged 54% to '134 highlighted the company's improving operational performance. "This applies to occupancies, average room rates, and commanding a much better revenue per available room. For domestic owned hotels, our occupancies have improved from 62% in quarter one of financial year 2024 to 73% in quarter one of financial year 2026," he said. "In terms of our revenue per available room performance across markets, as per CoStar data for year to date May 2025, for our domestic owned hotels in the luxury, upper upscale and upscale segments, ITC Hotels is commanding a premium of 34% over the industry."New ITC hotels will be opened in locations such as Kochi, Jaipur, Gwalior, Bhopal, Bodh Gaya, Udaipur, Rishikesh, and Wayanad this year. Chadha said the newly-opened ITC Ratnadipa in Sri Lanka has received a positive response, and that the company is now getting offers for more hotel opportunities in the island nation. "We have a small Fortune hotel in Nepal, and have signed another Welcomhotel about seven months ago. We are also exploring opportunities in the Middle East," he said ITC Hotels has a very strong zero-debt balance sheet, and is open to both inorganic growth opportunities and acquisitions.
Business Standard
16-07-2025
- Business
- Business Standard
ITC Hotels spurts after Q1 PAT rises over 53% YoY in Q1 FY26
ITC Hotels surged 4.40% to Rs 238.30 after the company reported 53.4% increase in consolidated net profit to Rs 133.10 crore on a 15.5% rise in revenue from operations to Rs 815.54 crore in Q1 FY26 as compared with Q1 FY25. On the segmental front, revenue from Hotels division was Rs 800.57 crore (up 16% YoY) and Other revenue was Rs 10.06 crore (up 10.3 % YoY) in the June25 quarter. Total expenses for the period under review aggregated to Rs 674.97 crore, up 13.2% YoY. Profit before tax in Q1 FY26 stood at Rs 188.80 crore, up by 53.6% from Rs 122.96 crore in Q1 FY25. ITC Hotels operates over 140 hotels in more than 90 destinations. The group operates under six brands: ITC Hotels and Mementos in the luxury segment, Storii in the boutique premium segment, Welcomhotel in the upper upscale category, Fortune in the midscale segment, and WelcomHeritage in the heritage leisure space. A pioneer in green hoteliering, all owned ITC Hotels and Welcomhotels are LEED (Leadership in Energy and Environmental Design) Platinum certified.
Business Standard
15-05-2025
- Business
- Business Standard
ITC Hotels registers 20% YoY increase in Q4 PAT
ITC Hotels has reported 20% rise in consolidated net profit to Rs 256.90 crore on a 4% increase in revenue from operations to Rs 1060.62 crore in Q4 FY25 as compared with Q4 FY24. Total expenses for the period under review aggregated to Rs 749.81 crore, up 1% YoY. Profit before tax in Q4 FY25 stood at Rs 353.52 crore, up by 20% from Rs 293.98 crore recorded in Q4 FY24. For FY25, the company has registered a consolidated net profit of Rs 634.57 crore (down 50% YoY) and revenue from operations of Rs 3,559.81 crore (up 60% YoY). ITC Hotels operates over 140 hotels in more than 90 destinations. The group operates under six brands: ITC Hotels and Mementos in the luxury segment, Storii in the boutique premium segment, Welcomhotel in the upper upscale category, Fortune in the midscale segment, and WelcomHeritage in the heritage leisure space. A pioneer in green hoteliering, all owned ITC Hotels and Welcomhotels are LEED (Leadership in Energy and Environmental Design) Platinum certified.
