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Informist, Monday, Aug. 11, 2025

By Avishek Rakshit

KOLKATA - ITC Hotels Ltd., which is on an expansion spree under an asset-light strategy, is on course to expand its portfolio to over 200 hotels by 2030, Chairman and Non-Executive Director Sanjiv Puri said at the company's 2nd Annual General Meeting Monday. He said the company is also strengthening its presence in tier 2 and tier 3 cities.

"Your company signed 30 management and franchise contracts last year contributing to a healthy pipeline of 58 hotels with over 5,300 keys and is well on its way to cross its target of over 200 hotels by 2030," Puri told shareholders in his opening address.

ITC aims to have a portfolio of 220 operational hotels with over 20,000 keys by 2030. To achieve this, the company is expanding across various price points and hotel categories through the launch of new brands. These include Mementos by ITC Hotels, a collection of luxury properties offering rare and bespoke experiences, and Storii, a curated selection of boutique hotels in the premium segment. ITC's existing portfolio also features ITC Hotels, its flagship luxury brand; Welcomhotel in the upper-upscale category, Fortune in the midscale segment, and WelcomHeritage, focused on heritage leisure properties.

"Your company is also expanding to tier 2 and tier 3 cities leveraging the increasing demand for premium hospitality," Puri said. Currently, ITC has 140 properties across 90 locations in and outside India with over 13,000 rooms. It also owns 12 food and beverage brands in the premium and luxury segment.

Puri said in its quest to expand its presence internationally, ITC has recently launched a new property in Nepal. Located in Bhaktapur, about an hour's drive from Kathmandu, the Fortune Resort & Wellness Spa offers 66 rooms and suites in the midscale segment. Last year, the company also marked its entry into the international luxury hospitality space with the opening of ITC Ratnadipa in Colombo, Sri Lanka. The hotel features 352 rooms and suites, each with private balconies offering panoramic water views, along with five banquet venues.

"To drive superior guest experience and strengthen operational efficiency, the company has made significant investments in digital adoption, including AI (artificial intelligence). I expect your company will be enriched with a portfolio of 220 operational hotels with over 20,000 keys by 2030," Puri added.

At 1216 IST, shares of ITC Hotels were 1.5% down at INR 230 on the National Stock Exchange.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Subhojit Sarkar

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