ITC Hotels inks partnership pact with RP Group Hotels and Resorts

ITC Hotels Ltd. - (Amalgamated) | Hotel, Resort & Restaurants | Travel & Hospitality | BSE: 500216 | NSE: ITCHOTEL

17 Sep 2013 Evaluate

ITC Hotels has entered into partnership agreement with Ravi Pillai-led RP Group Hotels and Resorts to manage its five hotels in India and in Dubai. These hotels will be run under the company’s five-star brand WelcomHotel and upscale brand Fortune.

With this, the hotel at Kollam will now operate as WelcomHotel Raviz Resort & Ayurveda Center, while the other hotel will be branded as WelcomHotel Raviz Resort & Ayurveda Center Kadavu. In addition to the two WelcomHotel properties, Fortune Raviz Calicut and two Fortune Raviz hotels in Dubai are also on the anvil.

As per the MoU signed by both the entities, the two existing properties branded as WelcomHotel will run under a management contract and will be flagged off immediately. While, the three Fortune hotels will be launched subsequently.

Peers

Company Name	CMP
The Indian Hotels Co	717.75
ITC Hotels	153.75
Mahindra Holi.&Resor	196.75
EIH	286.55
Chalet Hotels	876.35
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