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Informist, Friday, Jun. 27, 2025

 

--Andhra official:ITC proposes to invest INR 3.28 bln in Vizag hotel project

--Andhra official: ITC Hotels signs MoU to set up 200-room hotel in Vizag

 

By Narayana Krishna

 

HYDERABAD - ITC Hotels Ltd. on Friday signed a memorandum of understanding with Andhra Pradesh government to set up 200-room hotel in Visakhapatnam, according to a senior state government official. The MoU was signed on the sidelines of Tourism Conclave Tech-AI conference in Vijayawada.

 

The state government has offered several incentives and infrastructure support to the company, the official said. As on Mar.31, ITC Hotels had 140 hotels with a total of 13,300 rooms across 90 destinations under six hotel brands. 

 

Besides ITC, several companies from the hospitality and hotel industry signed MoUs to set up hotels, resorts, amusement parks, wellness centres and spas in the state, the official said. The companies include Lemon Tree Hotels Ltd., Easy Trip Planners, Patanjali group, IHG Hotels Ltd. and Hyatt group, among others, the official said.

 

The official said the state tourism department has signed a total of 82 MoUs for a proposed investment of INR 103.3 billion, which will create 7,605 rooms across states.

 

On Friday, shares of ITC Hotels closed 1% up at INR 225.98 on the National Stock Exchange.  End

 

Edited by Deepshikha Bhardwaj

 

 

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