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Time of India
22-07-2025
- Business
- Time of India
IHCL, Ambuja Neotia Group ink pact for 15 new hotels, focus on east, northeast region
NEW DELHI: Tata Group hospitality firm Indian Hotels Company ( IHCL ) and Ambuja Neotia Group on Monday announced an agreement for 15 new hotels, mostly in the east and northeast India, with the latter to invest up to Rs 2,000 crore. The 15 new sites identified to be developed are a combination of greenfield, brownfield and conversion projects and spread across West Bengal , Sikkim and Himachal Pradesh . These include a Taj resort in Sunderban, Darjeeling, Shimla and Rabong, SeleQtions hotels in Kolkata and Siliguri and a Tree of Life in Lataguri. A few select projects will also include Taj-branded villas in Darjeeling, Sikkim, Lataguri and Raichak. "Under this capital light arrangement, the total number of hotels (through the partnership with the Ambuja Neotia Group) will go from 28 to 43. What we estimate is 1,000-plus rooms will be added (by the new hotels) to an existing 1,500 rooms," IHCL Managing Director and CEO Puneet Chhatwal told PTI. IHCL has been a pioneer in building destinations like Rajasthan, Kerala, Goa and Andaman and Lakshadweep Islands, and it will now extend it to unlocking the tourism potential of the east and northeast with this agreement, he added. "It is also in line with India's ambition of developing the northeast," Chhatwal noted. With the expansion of the existing partnership, Chhatwal said Ambuja Neotia Group will become IHCL's "largest partners in all references -- rooms, hotels, revenue for us on that capital light arrangement". Ambuja Neotia Group is known for their luxury hospitality developments, showcasing the spirit of this region, he added. When asked about the investments, Ambuja Neotia Group Chairman Harshavardhan Neotia said, "I would think the investment would be in the region of around Rs 1,500 crore to Rs 2,000 crore". On the timeline for the new hotels to come up, Neotia said, "Realistically speaking, between five to six years is what we are hoping that most of this will get realised, unless something gets stuck because of some regulatory reasons". He further said, "All the lands on which we have signed properties are with us. Many of them are in various stages of regulatory approval. In a few cases, we are yet to start that process". Chhatwal said, "At least half of them would be less than five years". Neotia said the announcement follows closely on the heels of IHCL's strategic partnership with the Ambuja Neotia Group for Tree of Life, reflective of the strength and success of their ongoing collaboration. He further said, "Northeast, the unexplored region of India, has tremendous potential for bespoke luxury travel. The addition of premium room inventory this fiscal to Taj Chia Kutir in Kurseong as well as the upcoming Taj-branded luxury villas in Darjeeling, Lataguri and Gangtok reflects the growing demand from the segment".
Time of India
21-07-2025
- Business
- Time of India
IHCL, Ambuja Neotia Group ink pact for 15 new hotels, focus on east, northeast region
Tata Group hospitality firm Indian Hotels Company ( IHCL ) and Ambuja Neotia Group on Monday announced an agreement for 15 new hotels, mostly in the east and northeast India, with the latter to invest up to Rs 2,000 crore. The 15 new sites identified to be developed are a combination of greenfield, brownfield and conversion projects and spread across West Bengal, Sikkim and Himachal Pradesh. These include a Taj resort in Sunderban, Darjeeling, Shimla and Rabong, SeleQtions hotels in Kolkata and Siliguri and a Tree of Life in Lataguri. A few select projects will also include Taj-branded villas in Darjeeling, Sikkim, Lataguri and Raichak. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo "Under this capital light arrangement, the total number of hotels (through the partnership with the Ambuja Neotia Group) will go from 28 to 43. What we estimate is 1,000-plus rooms will be added (by the new hotels) to an existing 1,500 rooms," IHCL Managing Director and CEO Puneet Chhatwal told PTI. IHCL has been a pioneer in building destinations like Rajasthan, Kerala, Goa and Andaman and Lakshadweep Islands, and it will now extend it to unlocking the tourism potential of the east and northeast with this agreement, he added. Live Events "It is also in line with India's ambition of developing the northeast," Chhatwal noted. With the expansion of the existing partnership, Chhatwal said Ambuja Neotia Group will become IHCL's "largest partners in all references -- rooms, hotels, revenue for us on that capital light arrangement". Ambuja Neotia Group is known for their luxury hospitality developments, showcasing the spirit of this region, he added. When asked about the investments, Ambuja Neotia Group Chairman Harshavardhan Neotia said, "I would think the investment would be in the region of around Rs 1,500 crore to Rs 2,000 crore". On the timeline for the new hotels to come up, Neotia said, "Realistically speaking, between five to six years is what we are hoping that most of this will get realised, unless something gets stuck because of some regulatory reasons". He further said, "All the lands on which we have signed properties are with us. Many of them are in various stages of regulatory approval. In a few cases, we are yet to start that process". Chhatwal said, "At least half of them would be less than five years". Neotia said the announcement follows closely on the heels of IHCL's strategic partnership with the Ambuja Neotia Group for Tree of Life, reflective of the strength and success of their ongoing collaboration. He further said, "Northeast, the unexplored region of India, has tremendous potential for bespoke luxury travel. The addition of premium room inventory this fiscal to Taj Chia Kutir in Kurseong as well as the upcoming Taj-branded luxury villas in Darjeeling, Lataguri and Gangtok reflects the growing demand from the segment".
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Business Standard
21-07-2025
- Business
- Business Standard
Taj parent expands partnership with Ambuja Neotia Group for 15 new hotels
Taj Hotels' parent company and the hospitality arm of Tata Group, Indian Hotels Company (IHCL), on Tuesday signed an agreement with the Kolkata-based Ambuja Neotia Group for 15 new hotels. These 15 new sites will be a combination of greenfield, brownfield, and conversion projects, and are spread across the states of West Bengal, Sikkim, and Himachal Pradesh. The projects are expected to be completed in the next three to seven years. This capital-light arrangement will grow the partnership between the groups to over 40 hotels. To be sure, in November, IHCL had acquired a majority stake in the Ambuja Neotia Group's Rajscape Hotels, which manages the Tree of Life Hotels and Resorts brand. The two groups currently operate 24 hotels, with four more—including a Taj Ganga Kutir Resort & Spa in Raichak and a Tree of Life in Sirmaur, Naldehra, and Shivpuri—expected to be operational within the next year. The 15 new properties include a Taj resort in Sunderban, Darjeeling, Shimla, and Rabong, SeleQtions hotels in Kolkata and Siliguri, and a Tree of Life in Lataguri. Of these, four are currently under construction and will be built over the next three years. A few select projects will also feature Taj-branded villas in Darjeeling, Sikkim, Lataguri, and Raichak. "We are present in most of the geographies, but there is an undersupply in the north-east. While we continue to remain strong there, we want to grow to a 25-hotel portfolio in the region and will reach 30 hotels by 2030. We are delighted to extend our partnership with the Ambuja Neotia Group, known for their luxury hospitality developments showcasing the spirit of this region," said Puneet Chhatwal, managing director and chief executive officer at IHCL.
