Indian Hotels Company Limited (IHCL) has seen a significant increase in its portfolio during the financial year 2023-24, with a record number of openings leading to a 19% growth. The company, which aimed to have 300 hotels by 2025-26, achieved this goal two years early and now has 309 hotels in its portfolio. IHCL has aggressively expanded its footprint, with 52 hotel signings and 34 openings in the past year, showing a substantial increase from the previous year.
One of the key factors contributing to this growth has been IHCL’s partnership with Tree of Life Resorts & Hotels, in which the company provides marketing and distribution support to the 14 properties of Tree of Life. Additionally, IHCL has expanded its presence in East and Northeast India, with properties in Sikkim, Arunachal Pradesh, Odisha, and West Bengal. The company has also focused on large-format airport hotels and leisure and spiritual destination offerings, with new hotel signings in Bekal, Alibaug, Ayodhya, and Haridwar.
IHCL’s budget brand Ginger is a significant focus for the company, being the second-largest brand under IHCL. With 90 hotels currently under the Ginger brand, IHCL aims to have 86 operational hotels by the end of the 2025-26 financial year. The company is also planning to introduce a full-service brand in Tier 2 and Tier 3 cities to target the mass market outside metro cities in India. IHCL is eyeing international expansion as well, with new projects planned in Dhaka, Bhutan, Nepal, and Frankfurt.
The company has made significant progress in expanding its various brands in 2023-24. Under the Taj brand, IHCL signed 12 hotels and opened five new properties, including the Taj Sewai in Ranthambore, Taj Taal Kutir in West Bengal, and Taj Gandhinagar Resort & Spa in Gujarat. IHCL also operates 84 Taj hotels currently, with 25 properties in the pipeline. The SeleQtions brand saw 10 new signings and six openings, including properties in Surat, Bandra, and Naukuchiatal.
In the upscale Vivanta brand, IHCL signed 10 hotels during the financial year, including locations in Pune, Arunachal Pradesh, and Uttarakhand. Three new Vivanta hotels were opened, including properties in Nepal and India. Currently, IHCL operates 30 Vivanta hotels with 26 more in the pipeline. The budget brand Ginger also saw growth, with six new signings and openings, including a hotel at Goa’s new Manohar International Airport and a property in Dibrugarh. With 64 Ginger hotels currently operational, IHCL has 26 more in the pipeline for future openings.
