ITC Hotels Chairman Sanjiv Puri announced that the company will surpass its earlier goal of 200 operational hotels by 2030, targeting over 220 properties with 20,000 keys. This growth is fuelled by surging domestic and international tourism, expanding infrastructure, and economic development.

Addressing shareholders at the second AGM, Puri noted India’s hotel room penetration stands at 0.3 rooms per 1,000 people versus the global average of 2.2, indicating untapped potential. In FY24, ITC Hotels signed 30 franchisee and management contracts, with current operations spanning 143 hotels across 90 locations under six brands. The company’s “asset-right” strategy and focus on tier-2 and tier-3 cities aim to accelerate expansion.

Chairman Puri highlighted trends like adventure, cultural, spiritual, and medical tourism, supported by government plans to develop 50 tourist destinations. He cautioned about geopolitical fragmentation but stressed that India’s hospitality industry is set for strong growth, with foreign tourist arrivals nearing pre-Covid levels.