Indian Hotels (IHCL) has reported its tenth consecutive quarter of record performance, with revenues up 28% year on year with an ebitda margin up to 29.9%. Its revpar, a key measure of performance at the hotel level, was up 10% internationally, with occupancy of 75%.
The company also kept up its expansion momentum, adding two new brands to its portfolio, and signing 42 new hotels during the quarter. It acquired a majority shareholding in the company behind the Tree of Life brand, as well as taking on management of a Claridges branded hotel in Delhi.
Building across the brands
Out of the 42 new hotels signed, 12 will launch under the Taj brand, with 10 new Ginger hotels and 9 added to the Gateway portfolio. In addition, during the same period the company opened 14 hotels, taking its total operating portfolio to 232 hotels. The new hotels launched include a Taj in Patna, a Gateway in Bekal and a Vivanta in Jamshedpur.
The acquisition of a majority stake in the Tree of Life business, brings Indian Hotels a new brand, plus a portfolio addition of 19 hotels and resorts, with two further properties in development. Tree of Life provides resorts that allow guests to escape from the everyday, with destinations that are away from urban centres, in locations including Dared, Dehradun, Varanasi, Binsar, Kumaon, and Udaipurwati.
The business has been developed to date by the Ambuja Neotia Group, an established Indian real estate developer with experience across hospitality, healthcare, and education.
The group has now added another luxury brand to its operations. Indian Hotels has agreed to partner with the Claridges brand, signing a management contract to operate The Claridges hotel in New Delhi from April 2025. The Claridges hotel has been a part of Delhi for more than 60 years, offering luxury stays in its 119 rooms and suites. With Indian Hotels managing the property, it will enjoy all the benefits of being connected to the group, with its international reach and professional management teams.
Leading with luxury
But it is the group’s core Taj luxury brand that continues to lead for the business, winning global awards for its brand strength. Both in India and internationally, the group has a strong pipeline of new openings lined up. Opening in the coming months will be the Taj Cochin International Airport, and the 185 room Taj Lucknow, New Gomti Nagar Centre. They will be followed by the Taj Sky View Hotel in Chennai and Taj resort and spa in Dehradun.
Outside India, the pipeline includes the Taj at Deira Creek, a 200 room hotel due to open in early 2025 in Dubai. In Bahrain, two properties are in planning, with a likely 2027 opening: the Taj Resort Hamala, with 251 rooms, and the Taj Resort Seef, in Manama. And in Saudi Arabia, the 340 room Taj Makkah will open later in 2025.
