ITC Hotels sets 2030 goal of 220 properties, 5,300 keys in 5 years

ITC Hotels, in its first AGM post demerger, announced a pipeline of 58 hotels with over 5,300 keys in five years, targeting 200 properties by 2030 and expanding abroad

Hospitality chain ITC Hotels, which recently demerged from consumer goods giant ITC Limited, has outlined a pipeline of 58 hotels to cross its target of 220 hotels by 2030, its chairman Sanjiv Puri, told shareholders at the company’s first ever annual general meeting.

 

“India’s hospitality sector has huge headroom to grow with only 0.3 rooms per thousand population, compared to the world average of 2.2 rooms. The country’s tourism and hospitality sector holds immense potential, given its rich cultural heritage, diverse landscapes and expanding infrastructure,” he said while addressing shareholders.

 

The company will be adding over 5,300 keys in the next five years, to bridge the demand-supply gap, he added.

 

“The Hospitality industry is poised for strong growth particularly due to a confluence of economic multipliers such as rising societal aspirations, the growing stature of India as an attractive investment destination, increasing connectivity, strong macros, proactive policy interventions as well as digital transformation,” he said, adding that, “your company is well positioned to tap these emerging opportunities.” 

 

 

In the year gone by, the company has expanded its presence to Tier 2 and 3 cities, leveraging the increasing demand for premium hospitality. To drive superior guest experiences and strengthen operational efficiency, it has also made investments in digital adoption including Artificial Intelligence (AI).

 

“I am confident that the company’s ‘asset-right’ strategy will further accelerate growth and competitiveness in the years ahead. The equity of your company’s iconic brands has resulted in a healthy generation of leads with a robust pipeline of potential management contracts,” he further said.

 

The company is among the fastest growing hospitality chains in the country with over 140 properties across 90 locations under six distinctive brands in luxury, lifestyle-luxury, heritage, and premium segments among others. ‘

 

ITC Ratnadipa in Colombo, the company's first international foray, is symbolic of our ambition to take Indian hospitality to global shores. In line with our aspiration to venture into proximal geographies, we have established our presence in Nepal as well,” Puri added.