With recession slowly fading out, ITC hotels have reported growth in their performance in the hotel sector with revenues growing by 21% and segment profits by 26%.
Recovery in the hotels sector in the latter part of 2009-10 reflected in the company’s numbers for this segment, with revenues and profits growing by 21 and 26%, respectively.
Construction of their new super luxury hotel properties at Chennai and Kolkata is still under development.
In addition, several renovation programmes are underway at the ITC Mughal in Agra and renovation of the ‘Dum Pukht’ restaurant in ITC Maurya, New Delhi.
Several new projects including joint ventures and management contracts are also on the wings to rapidly scale up the business across target market segments.
