Indian Hotels Company Limited (IHCL) has plans to achieve a target of 300 hotels by 2025, from the present portfolio of 260 hotels, PTI has reported via Economic Times.
With the signing of deals for 36 new hotels and the opening of 16 new properties in the past year, the hospitality firm accelerated its portfolio expansion in the 2022-23 financial year that ended in March.
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Its pipeline presently stands at 73 hotels.
The company added: “With the current portfolio of 260 hotels, IHCL remains well poised to achieve its vision of 300 hotels by 2025.”
IHCL stated that with the signings for eight new hotels, the brand Taj is expected to reach the 100-hotel milestone from the present 98 hotels, the news agency reported.
IHCL managing director and CEO Puneet Chhatwal said: “IHCL has witnessed a tremendous year of growth with unprecedented momentum of portfolio expansion. We signed a record 36 hotels in this financial year, taking our portfolio to 260 properties.
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By GlobalData“With this growth, our managed hotels have now reached a share of 50 per cent from 32 per cent five years ago, resulting in a balanced portfolio mix. This was supported by a fast-paced opening of 16 new hotels.”
