ITC may step up its foreign presence in the hotels space: Sanjiv Puri

ITC may step up its foreign presence in the hotels space, says managing director Sanjiv Puri.

It is presently building one at Colombo, Sri Lanka, its first foreign venture in the segment. Apart from 300 rooms, this will have 48 serviced apartments. It is slated for launch in 2020, the investment being about $300 million (Rs  21 billion). 

Said Puri, when asked if they’d look beyond Colombo: “It is possible we might look at countries adjacent to India —West Asia, etc. These are the primary regions of interest, as of now.” These could, he indicated, be more of managed properties, unlike the