Indian Hotels Company (IHCL) announced the acquisition of the majority shareholding in Tree of Life’s operating company, joining hands with Ambuja Neotia Group.
Speaking on the occasion, Puneet Chhatwal, Managing Director and Chief Executive Officer of IHCL, said, “This acquisition aligns with IHCL’s pioneering ethos of creating destinations and building and scaling new hospitality formats. In line with our growth strategy, it also reflects our vision of expanding existing partnerships. Currently, IHCL is in partnership with Ambuja Neotia Group for seven hotels and resorts featuring notable properties such as the Taj Chia Kutir and Taj Guras Kutir in Darjeeling and Gangtok.”
He added, “Recognizing the growing demand for experiential leisure, IHCL is excited to onboard the Tree of Life brand and scale it to 100 properties by 2030.”
Tree of Life Resorts offers tranquil escapes from the everyday, embodying the essence of authentic India in over 15 destinations, including off-beat locations like Dared, Dehradun, Varanasi, Binsar, Kumaon, and Udaipurwati.
Harshavardhan Neotia, Chairman of Ambuja Neotia Group, said, “We are delighted to welcome IHCL to our newest venture, taking our collaboration to the next level. As leader in Indian hospitality, IHCL has been instrumental in pioneering new destinations and travel segments, placing India on the global tourism map. With a proven track record of successfully scaling brands across various formats, we are confident of growing the Tree of Life portfolio with their expertise in developing and operating boutique leisure offerings.”
The Tree of Life portfolio has 19 resorts and hotels, with two under development.
