ITC weighs 'alternate structure' for hotels business for value creation

Puri also said that there were many smaller pieces in the portfolio that required support from institutional strengths, and that's why they structured the way they were

Diversified conglomerate, ITC, will examine an “alternative structure” for its hotels business.

Answering questions on the company’s restructuring plans, ITC Chairman Sanjiv Puri said at a media interaction that the firm is focusing on an asset-right strategy and will look at some alternative structuring vehicles for value creation. However, Puri clarified, that it was just under consideration.

In 2004, ITC approved amalgamation of its subsidiaries ITC Hotels and Ansal Hotels with itself. It is not clear whether an alternative structure would mean a demerger.

Explaining the reason behind diversification, Puri said the idea was to align market opportunities with internal capabilities.

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