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Tata Group-owned IHCL signs 20 hotels in Q1, says poised to achieve 700-hotel portfolio by 2030
Indian Hotels Company Ltd signed twenty new hotels during the first quarter. The company is well poised to reach seven hundred hotels by the year 2030. Seventeen of these signings focused on growth brands like Gateway and Ginger. Taj also reached a milestone of one hundred fifty hotels with three new signings. IHCL expanded its operating portfolio to over three hundred eighty hotels globally.
Tata Group-owned IHCL to invest Rs 6,000-7,500 crore in capex over five years: Chandrasekaran
Indian Hotels Company Limited (IHCL) is set to invest between Rs 6,000 crore and Rs 7,500 crore in capital expenditure over the next five years. Tata Group Chairman N Chandrasekaran revealed this at the company's AGM, highlighting plans for the upcoming 50-floor, 500-room Taj Bandstand in Mumbai, a project expected to cost around Rs 2,000 crore and become an iconic landmark.
Hotel demand rebounds; ICICI Sec keeps Buy on ITC Hotels, IHCL, Lemon Tree
ICICI Securities has reiterated its 'Buy' rating on ITC Hotels, Indian Hotels Company, Leela Palaces Hotels & Resorts, Chalet Hotels, Lemon Tree Hotels and Brigade Hotel Ventures.
Lemon Tree Hotels signs two new resorts in Maharashtra’s Tadgaon and Igatpuri
Shares of Lemon Tree Hotels Ltd ended at ₹111.90, down by ₹3.50, or 3.23%, on the BSE.
Taj GVK Hotels to exit Nifty India Corporate Group Index - Tata Group
According to a decision taken by the Index Maintenance Sub-Committee (Equity) of NSE Indices, Taj GVK Hotels & Resorts will be removed from the index. No replacement stock will be added following the exclusion.
ITC Hotels acquires Zuri Kumarakom, Kerala Resort & Spa
ITC Hotels has today signed definitive agreements for acquisition of a luxury resort in Kumarakom, Kerala - The Zuri Kumarakom, Kerala Resort & Spa (Resort). The Company will acquire 100% stake in Zuri Hotels & Resorts (ZHRPL), which owns the Resort, at an Enterprise Value of Rs. 205 crore, on a debt-free and cash free basis, subject to customary adjustments as per the definitive agreements.
Luxury hotels in India are betting big on branded residences and serviced apartments
As room growth matures and travel habits change, chains such as Marriott, Leela, Taj, Sarovar and Atmosphere are turning to branded homes and longer-stay formats for newer, asset-light revenue streams.