Indian Hotels Company (IHCL) is set to expand its global footprint with plans to add 120 hotels to its portfolio over the next few years, including premium and mid-range labels, according to ET Hospitality.
This move is part of IHCL’s strategy to capitalise on the increasing luxury travel market, driven by affluent Indians with high disposable income.
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The company has outlined a phased launch of new properties, with 11 hotels scheduled to open this year, followed by 30 next year, and 35 the year after, according to IHCL managing director Puneet Chhatwal during an interview on Bloomberg TV.
IHCL’s entry into continental Europe will be marked by the opening of the 1952-built Hessischer Hof in Frankfurt.
The luxury segment of Indian Hotels has seen an uptick in demand, which has more than doubled the net income for the July-September quarter compared to the same period last year.
Chhatwal highlighted that the Indian wedding market is the company’s key revenue driver, accounting for 25% of the revenue for the Taj brand.
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By GlobalDataApproximately five million weddings are expected to take place in November and December this year.
The company is also evaluating opportunities in Western countries and Southeast Asia.
Chhatwal added the company’s focus remains on the Indian subcontinent, and it will only selectively grow the Taj brand in key international markets.
In a separate development, Indian Hotels announced a collaboration with Tata STRIVE and the Tripura Tribal Areas Autonomous District Council (TTAADC) to establish a Centre of Excellence in West Tripura.
This initiative was also set up in Kamrup, Assam, to provide industry-relevant skills training in the hospitality sector to the local youth.
IHCL also recently entered a management contract to expand the Claridges brand, with The Claridges, New Delhi hotel set to commence operations in April 2025.
