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ITC Hotels Ltd is aiming at expanding its portfolio to over 220 operating units with more than 20,000 keys by 2030, its latest annual report said. According to the annual report for 2024-25, the company plans to accelerate its growth through management contracts and franchise arrangements. Approximately, 70 per cent of the keys are being operated under management contracts, including franchising, it said. Spun into a separate entity after the demerger from ITC Limited, the company owns brands like ITC Hotels, Mementos, WelcomHotel, Storii, Fortune and WelcomHeritage. "Having achieved considerable scale and market standing, the business pivoted into an asset right strategy to drive growth and reduce the capital intensity of operations," the company said. The focus was also on strong partnerships with asset owners, leveraging brand credentials and providing operational expertise, ITC Hotels said in the report. In the last two years, 30 hotels have been launched under the ITC Hotels
Rising temperature and growing threat of climate change may increase default risk in 30 per cent of agri and housing loans portfolio in the next five years, according to an analysis by BCG. According to the report, the average global temperature has already increased approximately 1.2 degree Celsius versus pre-industrial levels leading to flooding in coastal areas and reduction in agriculture production. As a result, it said, there has been a drop in per capita income of people impacted by rising extreme weather events. Almost half of the credit of scheduled commercial banks is significantly dependent on nature and its ecosystem so any natural calamity impacts their bottomline. By 2030, as per estimates, 42 per cent India's districts are projected to experience temperature rise by up to 2 degree Celsius. So, 321 districts may be affected by temperature rise in the next five years. However, climate change also provides an opportunity to banks to the tune of USD 150 billion annually