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Ginger Hotels
The Indian Hotels Company on Monday said it has signed an agreement with Madison, the hospitality platform of Terminus Group and JV Ventures, for ten new hotels to be operated under the Ginger brand spread across the southern states of India. Madison will invest approximately Rs 500 crore in the construction of ten hotels with over 1,000 keys within the next three years. The ten new hotel sites will primarily be greenfield and brownfield projects, and this partnership has commenced with the signing of a 75-key Ginger hotel in Genome Valley in Telangana, Indian Hotels Company (IHCL) said in a statement. This capital-light arrangement will be an operating lease agreement under the Ginger brand, it added. Ginger represents IHCL's strategic response to capitalise on the growing opportunity in the mid-scale segment in India for the aspirational traveller. The brand spans all city categories and destinations from metros, state capitals, commercial centres, industrial townships, pilgrima
Tata Group's budget hospitality brand Ginger Hotels is looking to double its presence in East and Northeast India in the next three to five years, according to a senior company official. Ginger Hotels, operated by Roots Corporation Ltd (RCL), a subsidiary of the Indian Hotels Company (IHCL), has 11 properties in operation with 876 rooms in the East and Northeast region and seven in the pipeline with an expected 605 rooms to be added. The brand is seeking to tap growth witnessed in India beyond the metros to smaller cities. "It is very interesting, we talk about how India's story is percolating into beyond the top 10 cities...I think that's really playing out in our expansion," IHCL Executive Vice President - New Business and Hotel Openings, Deepika Rao told PTI. The seven hotels in the pipeline in Patna, Kolkata, Asansol, Paradeep, Guwahati, Jorhat and Dibrugarh, will come into play in two to three years time, said Rao, who is also the chairperson of Roots Corporation. On the ...