Page 7 - Itc Hotels

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

ITC Hotel to launch new luxury hotel brand Mementos across destinations

Together with Storii, the hotel chain is looking to create differentiated experience for travellers

Fortune Park Hotels to add five hotels in India by December 2022

These five hotels will be -- Fortune Resort Benaulim Goa, Fortune Park in Hoshiarpur (Punjab), Fortune Park in Tirupur (Tamil Nadu), Fortune Select in Goa and a Fortune Inn in Haldwani (Uttarakhand)

ITC adopting disruptive business models as part of strategy reset, says MD

About the FMCG business, Sanjiv Puri said ITC is focusing to build a formidable business at scale and several of its brands have already achieved leadership positions

Asset-right strategy to drive ITC's game-plan for hotels post Covid: MD

Sanjiv Puri said an extensive strategy reset has been undertaken to architect the structural drivers that will power ITC's next horizon of growth

CII ties up ITC Hotels to launch vocational education in hospitality sector

Industry body CII on Thursday said it has partnered with ITC Hotels to launch vocational education training by Switzerland-based hotel school EHL in the hospitality sector.

ITC reports 30% rise in Q1 net profit at Rs 3,343 crore

Its revenue from operations rose 36 per cent per cent to Rs 14,240 crore

Premium restaurants get hooked to the sweet taste of food delivery

Premium restaurants see gourmet meals on wheels as a long-term business

Vacationers head to the hills to de-stress as states start unlock process

Over the past fortnight, five-star hotel chains including and premium boutique brand are seeing the occupancy at their properties either reach the near optimum level or being completely sold out.

ITC to expand Welcomhotel brand to 25 hotels even amid pandemic

Amid Covid pandemic and slump in the hospitality industry owing to lockdown and restrictions, ITC Hotels is optimistic about domestic tourism, planning to increase number of properties in Welcomhotel.

ITC slips 3% post Q4 results. Can the stock enter a prolonged bear phase?

Analysts remain cautious on cigarettes and hotels businesses in the medium term. On the techncial charts, the stock is in the process of forming an 'Island Reversal Pattern'

ITC Q4 consolidated net profit falls 3%, declares final dividend of Rs 5.75

The FMCG major's consolidated revenue from operations rose to Rs 15,404 crore