 "IHCL Q1 results 2025, Indian Hotels Company performance, hotel stock India, Taj hotels revenue growth, hospitality sector India, MICE demand India, hotel room rates FY26, IHCL expansion plans, tourism sector trends, IHCL stock valuation")
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Tata Group hospitality firm Indian Hotels Company Ltd (IHCL) is putting the spotlight on the North East for new properties in line with India's ambition of developing the region, according to its Managing Director and CEO Puneet Chhatwal.
The company has a portfolio of 15 hotels with 1,348 rooms in the North East, and six hotels with 634 rooms in the pipeline.
Developing properties in the East and North East has been a part of a strategic initiative, Chhatwal told PTI.
"Like 50 years ago it was Goa, 30 years ago it was Kerala. More recently, you heard about Lakshadweep. Now it is the North East -- which is also in line with India's ambition of developing the North East -- our contribution as a Tata Group company," he noted.
Elaborating on some of the new projects that the company is undertaking in the North East, he said,"IHCL has committed to projects like Jagiroad in Assam, opposite the Tata Electronics factory that is coming up." Moreover, he said,"There are also the conversion of two properties -- one is the existing Vivanta in Guwahati which will be upgraded to Taj. We will see an extension of that asset with a number of rooms, banquet halls, etc. We will also be building another hotel in Kaziranga (in Assam)." Chhatwal also reiterated that IHCL has signed its first 'Taj Palace' property in the North East with the 'Taj Pushpabanta Palace' in Agartala, Tripura.
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 "Tata Group's hospitality arm and Taj Hotels' parent company Indian Hotels Company (IHCL) on Tuesday set a target to grow consolidated revenue 2x to Rs 15,000 crore and double the portfolio of hotels to over 700 by 2030.")
 "The country's largest hotel chain is expanding to double its portfolio of hotels to over 700 hotels.")
The property was signed in May this year in a public-private partnership with the Tripura government. Under the partnership, the Pushpabanta Palace built in 1917 as a holiday home for the king and his guests will be developed to have 100 rooms to be housed in a newly built structure.
The refurbishment and expansion are expected to be completed in the next three years, IHCL had earlier said.
Last month, IHCL and the Ambuja Neotia Group had announced an agreement for 15 new hotels mostly in the East and North East India.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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