Page 6 - Itc Hotels

ITC hits new high, up for the 5th straight day; soars 32% so far in 2023

Analysts raised their cigarette volumes growth estimate for FY24E considering market share gains from illicit cigarettes as well as strong growth in high price cigarettes.

ITC rally has more legs on FMCG biz scale up, high cigarette vols: Analysts

ITC share: The stock has firmly outperformed the benchmark returns by rallying 56 per cent over the last year versus a 3% and 23.5% gain in the Nifty50 and Nifty FMCG indices during this time

The Ashok Hotel divestment: 1956-built hotel to undergo a structural audit

Ashok's divestment has drawn interest from all the big hospitality players, including Taj Hotels, Hilton, DLF, JLL, Brookfield-backed HLV Ltd and Wyndham Hotels

ITC to add 3 properties under Welcomhotel in MP, Himachal, Uttarakhand

ITC Hotel Group's upper upscale brand Welcomhotel is planning to add three more properties in Madhya Pradesh, Himachal Pradesh and Uttarakhand. Recently, ITC inked a deal to open 136-room Welcomhotel Gwalior, which is spread over 7 acres and slated to open by 2025, the hospitality company said in a statement. The firm will be opening a 46-key hotel in Manali in a few months, it added. The company will also open a hotel in Dehradun under a management contract with Unique Hotels and Restaurants. The existing property is in the process of being converted into a 78-key hotel. "The signing of more properties under the upper upscale Brand Welcomhotel is in line with ITC Hotels' expansion plan to take our brand and services to tier II markets in addition to prime metro cities," ITC Hotels Divisional Chief Executive Anil Chadha said.

ITC Hotels launch Mementos Udaipur, its first Mementos property in India

ITC's Hotel Group has announced the opening of its first Mementos property by ITC Hotels, Ekaaya, Udaipur, under the new brand - Mementos

G20, IPL helping hotel industry; surge in demand here to stay: Experts

It is interesting to see that the new business opportunity is fuelled by India's G20 presidency. The G20 meetings have added to the demand in cities that are slated to host key events

Our Ebitda share from non-cigarette biz at 27%: ITC CMD Sanjiv Puri

As part of the ITC Next strategy, we are making sure that the organisation remains agile, nimble and consumer-centric at all times

ITC cooks up a storm, sets up 12 cloud kitchens and 48 brand outlets

A key lever of the ITC Next strategy is to spot new opportunities at the intersection of digital, sustainability and enterprise strengths

ITC Q2 net profit rises 24% to Rs 4,619.77 crore; revenue up 24.4%

The company attributed the performance to strong and broad-based growth across markets and channels

After over 50% rise in 2022, is the stupendous rally in ITC fizzling out?

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then

With new hotel brands, ITC checks in with 'house of brands' model

ITC has launched two brands - Storii, in the boutique premium segment, offering immersive experiences, and Mementos, a collection of unique luxury properties across destinations

ITC scouts alternate structures for hotel biz; stock up 50% so far in 2022

According to reports, ITC Hotels could soon be a separately listed entity, carved out of the parent cigarette-to-branded packaged food conglomerate.

ITC to pursue 'asset-right' strategy for its hotel business: Chairman

ITC Ltd would pursue the "asset-right" strategy for its hotel business to ensure that the diversified conglomerate remains competitive and contemporary, and continues to deliver superior performance, its chairman Sanjiv Puri said. The Kolkata-based multi-conglomerate, which operates hotels under the brand names such as ITC and Welcome, also said that it is exploring foreign markets for its hospitality business, he said. According to Puri, the tourism and hotel industry is recovering after pandemic and the company will take the demerger process forward and explore alternate structure. "Once things are finalised and we have a final proposal we will share it," Puri told PTI when asked about the demerger of ITC hotel business. On the company's plans to expand hotel operations overseas, he said they are "pursuing asset-right strategy sometime now and there are large number of hotels that have come in under Welcome hotels. The new brand called 'Storii' and 'Momentous' also will start ...

Mid-sized hotels on aggressive expansion drive as occupancy, rates zoom

Mid-sized hotels have an advantage of better penetration in the tier-2 and tier-3 markets

Salaries of top managers rise as occupancy in hospitality sector improves

The remuneration of directors of hotel companies, like IHCL and EIH Ltd, has seen a rise between 8 and 250 per cent in FY22 year-on-year (YoY)

How tobacco-to-hotels major ITC rose to the challenge during pandemic

ITC Chairman and Managing Director Sanjiv Puri's three years in charge have seen structural shifts that steadied the cigarettes to hotels major against a tough business environment

Hospitality sector in sweet spot but revenue boost eludes five key players

Lower costs, improving occupancies as well as room rents augur well

ITC Hotel's integrated app for bookings, takeaways, loyalty membership

Club ITC members can also save up to 10 per cent on room reservations through Club ITC exclusive member rates and earn and redeem Club ITC Green Points for their stays booked directly

ITC Hotels signs up first property in Udaipur under its new brand Mementos

Slated to open in the first quarter of next fiscal, the 130-room property is spread over 106 acres with each room offering a view of the beautiful panoramic Arravalis

ITC Q2 preview: Analysts see 13% YoY revenue jump; high costs may hit PAT

On the bourses, the stock of the cigarette-to-hotels conglomerate rallied 16 per cent on the BSE during the quarter under review, as against around 13 per cent gain in the benchmark S&P BSE Sensex