OUTLOOK – 2:

 

IHCL TO ADD 300 HOTELS NEXT FOUR YEARS

 

BY P S SUNDAR

 

Indian Hotels Company Ltd (IHCL) will add 300 hotels in the next four years, said Puneet Chhatwal, MD & CEO.

 

Of them, Taj will have 100, Vivanta and SeleQtions 75 and Ginger 125.

 

Along with, there will be 500 homestays and 25 Qmin (culinary and home delivery platform). 

 

Presently, IHCL has 236 hotels (including 60 under development) in over 100 locations in 11 countries across four continents.  In the past five years alone, it signed 100 hotels and opened 40 hotels.

 

IHCL’s goal is to maintain 50-50 portfolio of owned hotels vs management contract hotels.   Currently, 46 per cent are under under management contract and 54 per cent are owned.

 

“I see a scope for increase in occupancy and Average Room Rate across the industry”, Chhatwal said. 

(Response can also be sent to: pssundar.coonoor@gmail.com)