ITC Hotels, the newly formed entity following ITC’s hospitality business demerger has announced an expansion plan to enhance its portfolio.
The plan is to scale up from 140+ properties with 13,000 keys to over 200 hotels with 18,000 keys within five years.
Around two-thirds of the expansion will be through managed properties. Since 2023, 30 hotels have been launched, with a target of adding one hotel per month over the next 24 months.
ITC will retain a 40 percent stake, with the remaining 60 percent distributed among existing shareholders. ITC Hotels will leverage ITC’s strengths while maintaining a zero-debt balance sheet and Rs 1,500 crore in cash/cash equivalents for growth.