IHCL becomes India’s fastest growing hospitality ecosystem
Pictured: The recently-opened Vivanta Katra. Imagery courtesy of IHCL.
The Indian Hotels Company Limited (IHCL) is rapidly expanding its new signings rate, with 10 additions in just the latest quarter.
The upcoming hotels comprise three hotels each under the Taj and Ginger brands, and two hotels each under the SeleQtions and Vivanta brands.
System surge
IHCL has also received letters of award for four upcoming hotels – two each in Diu and Lakshadweep, taking the pipeline to over 60 hotels.
In total, the company has a portfolio of 242 hotels, including the 63 under development globally, across four continents, 11 countries and in over 100 locations. This is 3% up on the previous quarter’s system size of 235 sites.
Quickest rise
Quarter on quarter pipeline growth is 7%, as the figure previously stood at 59 at the end of March 2022. During the three months to 30 June, IHCL further strengthened its pan-India footprint with the opening of four new hotels comprising Taj City Centre, New Town – Kolkata; Anand Kashi by the Ganges, Rishikesh – IHCL SeleQtions; Vivanta Katra, Vaishno Devi; and Ginger Goregaon, Mumbai.
The group believes that these figures mean that it has India’s fastest growing hospitality ecosystem.
Puneet Chhatwal, MD and CEO said: “IHCL has reported its best first quarter in the company’s history. This performance has been boosted by a surge in demand across markets and segments, with both occupancy and rates exceeding pre-covid levels. In line with our vision of Ahvaan 2025, IHCL will continue on its trajectory of delivering responsible profitable growth.”
Notable developments
TOPHOTELPROJECTS currently details 58 high-end ICHL group projects, 56 of which are in India, with the remaining two in Saudi Arabia and UAE. Top of the city count is Jaipur with three sites, followed by Lucknow, Kolkata, Bengalaru, Patna, Chennai and Ahmedabad with two apiece.
Major projects include Vivanta by Taj Kempegowda International Airport, Bengaluru, which will add 450 rooms to ICHL’s portfolio from 2025; and Taj Hotel Chennai, a 358-room development arriving in 2024.
Many TOPHOTELNEWS articles draw on exclusive information from the TOPHOTELPROJECTS construction database. This subscription-based product includes details of thousands of hotel projects around the world, along with the key decision-makers behind them. Please note, our data may differ from records held by other organisations. Generally, the database focuses on four- and five-star schemes of significant scale; tracks projects in either the vision, pre-planning, planning, under-construction, pre-opening or newly opened phase; and covers newbuilds, extensions, refurbishments and conversions.
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ABOUT THE CHAIN
The Indian Hotels Company (IHCL) and its subsidiaries, collectively known as Taj Group, is one of Asia's largest and finest group of hotels.
