Building momentum
As it announced its third quarter performance to end of December 2023, the group said it had recently opened its 200th hotel, and has a strong signed pipeline of 85 more hotels. “IHCL with its well-established brands, vast footprint across 130+ locations and a healthy balance sheet, is well placed to leverage this sustained demand upcycle the sector is witnessing,” said CEO Puneet Chhatwal. “We target to open on average two hotels every month, or even higher.”
The Indian Hotels Company is growing across four main hotel brands: Taj, SeleQtions, Vivanta and Ginger.
Already this year, the group’s Ginger brand has added new signings at Manohar International Airport in Goa, one of India’s most popular tourist destinations, and its first hotel in Dibrugarh, Assam. And in January, IHCL signed a SeleQtions hotel to be built on a brownfield site in Ayodhya, Uttar Pradesh. The 150 room property, to be developed by local partner KM Vyapar, will join two existing Indian Hotels properties already operating there under its Vivanta and Ginger brands.
Frankfurt signing
In the second half of 2023, Indian Hotels ramped up its pace of signings. It added Taj branded hotels in Frankfurt, Ganga Kutir, Dehradun and signed two properties in Bhutan. The Vivanta brand also saw good pace, with pipeline additions in Guwahati, Aluva and Pune, while SeleQtions were signed in Naukuchiatal, Kumbalgarh, Himachal Pradesh and Bandra.
