IHCL shines: 35 new signings, 12 new hotel openings in six months

Indian Hotels Company (IHCL) accelerates its growth momentum of portfolio expansion in H1 FY 2025 with 35 signings and 12 openings, taking its total portfolio to 345 hotels with an industry-leading pipeline of 115 hotels.

Speaking on the occasion, Suma Venkatesh, Executive Vice President of Real Estate and Development at IHCL, said, “Capturing the buoyancy in the travel and tourism sector, IHCL has demonstrated accelerated growth with a record 35 new signings in the first half of this fiscal year. The signings are well represented across our brandscape, a testament to the trust of our partners and the premium positioning each of the brand’s command in their segment.”

She added, “Reflective of the growing demand outside the top ten cities in India, 70% of the new signings were in the fast-emerging markets of Srinagar, Varanasi, Mangalore, Kanpur, Mysore, Hosur, and Lonavala, among others. In line with our international growth strategy, we extended our presence in the Indian Subcontinent and the Middle East with signings in Bhutan and Bahrain. Pursuing select investments, we will be developing a 200-key project in Ranchi under the Taj brand.”

Deepika Rao, Executive Vice President of Hotel Openings and New Businesses at IHCL, added, “Our hotel openings in the first half have kept pace with our guidance of two hotels a month. We forayed into new markets with a Taj in Patna, SeleQtions at Mahabaleshwar, and a Ginger at Nagpur. We strengthened our presence in Srinagar, Gangtok, Udaipur, Jamshedpur, Coimbatore, and Delhi.”

She added, “In Q2, the re-imagined Gateway launched with a new hotel opening in Bekal and migration of four hotels in Nashik, Coonoor, Madurai, and Chikmagalur.”

IHCL’S portfolio as of 30th September, 2024