ITC-Welcome Group to Invest $2bn in Indian Hotels

16th January 2011 (Last Updated January 16th, 2011 18:30)

The ITC-Welcome group is to invest $2bn in India over the next three years, doubling the country's hotel rooms. The hotel group, which is owned by India-based ITC, plans to open a 600-room luxury hotel in Chennai and a 400-room hotel in Kolkata. The expansion will focus on

The ITC-Welcome group is to invest $2bn in India over the next three years, doubling the country’s hotel rooms.

The hotel group, which is owned by India-based ITC, plans to open a 600-room luxury hotel in Chennai and a 400-room hotel in Kolkata.

The expansion will focus on premium hotels, however, the firm will develop properties across its four categories of luxury, business, budget and heritage (Welcomheritage), according to hindubusinessline.com.

ITC-Welcome owns and manages 100 hotels in 80 locations, comprising 8,000 rooms.

The group has 40 hotels under various stages of development, which will be either owned or managed by the company.

ITC-Welcome aims to have 150 hotels under its portfolio, out of which it has four hotels under construction and seven hotels planned for its premium segment.