Indian Hotels Corporation, parent company of the Taj Mahal brand, will open 90 new hotels

Tata Group Hotels IHCL (parent company of Taj Hotels) will open 90 new hotels in a few years.

New Delhi:

Tata Group Hotels India Hotels Ltd. (parent company of Taj Mahal Hotels) said today that it will accelerate the addition of new hotels in the next few years and is currently planning to build more than 90 new hotels.

Indian Hotels Ltd (IHCL) has accelerated its portfolio expansion in FY24, signing 52 hotels, opening 34 hotels and achieving 300 hotels ahead of Ahvaan 2025 market guidance, it said in a statement. Portfolio of multiple hotels.

The company announced ‘Ahvaan 2025’ in 2022, under which it hopes to redesign its margins, reimagine its brand landscape and restructure its product portfolio. The company has set a target of building a portfolio of 300 hotels and achieving an EBITDA margin of 33% by financial year 2025-26, with a 35% share of EBITDA coming from new business and management fees.

Deepika Rao, Executive Vice President, Hotel Openings and New Business, IHCL, said: “With a strong pipeline of over 90 hotels, IHCL’s supply will accelerate in the coming years, continuing to maintain its leading position in the domestic market while expanding into overseas market options. international market.”

Suma Venkatesh, executive vice president of real estate and development at IHCL, said that as India becomes increasingly affluent and tourism demand grows, IHCL will expand into emerging markets by offering new products such as upscale full-service hotels.

Ms. Venkatesh added: “Our next phase of growth will also be achieved by leveraging our existing partnerships for multi-hotel projects.”

She further said: “With growth accelerating year on year, FY24 has set a new benchmark with 52 sign-ups, one contract per week. Among these, our recent strategic alliance with Tree of Life Resorts has added value to our The portfolio contributed 14 new hotels”. This year, IHCL signed new projects in international locations including Dhaka, Bhutan, Nepal and Frankfurt.

Ms. Venkatesh said that in the domestic market, the company has signed projects in New Delhi, Kochi, besides its leisure and spiritual portfolio in Alibaug, Bekal, Naukuchiathar, Ayodhya and Haridwar. and large hotels at Goa MOPA International Airport.

IHCL and its subsidiaries operate a range of hotel brands including Taj, SeleQtions, Vivanta and Ginger.

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