ITC is planning to open 40 new hotels which will add around 5,000 rooms over a period of time. This step has been taken as part of its strategy to strengthen its hospitality business. The company is currently working on opening 10 new hotels in the next three- and-half years under its ongoing expansion programme across different verticals entailing overall investment of Rs 25,000 crore.
ITC’s hospitality chain has nearly 100 properties under four brands -- ITC Hotels, WelcomHotel, Fortune and WelcomHeritage -- across 70 locations with around 9,000 rooms.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
