ITC-Welcomgroup, the second largest hotel chain in the country and a division of ITC Ltd, plans to invest over $2 billion (around Rs 9,000 crore) in the next 2-3 years to double its room inventory across the country.
In the near term, two ITC Luxury Collection hotels are planned — a 600-room hotel in Chennai and a 400-room hotel adjacent to ITC Sonar in Kolkata. Though the focus will be on such super premium hotels, ITC will develop properties across its four categories — luxury hotels (under ITC prefixed brands), business class hotels (under the Welcomhotels brand), budget hotels (Fortune Hotels brand) and heritage properties (Welcomheritage).
The group currently owns and manages 100 hotels in more than 80 locations with close to 8,000 rooms across the four brands. (Some of these hotels have co-branding arrangement with two international brands — ‘Luxury Collection' and ‘Sheraton', franchised from global major Starwood International.)And, there are about 40 hotels under various stages of development which will be either owned or managed by the company.
Company Name | CMP |
---|---|
Indian Hotel | 583.75 |
EIH | 478.45 |
Mahindra Holi.&Resor | 440.85 |
Chalet Hotels | 884.90 |
Lemon Tree Hotels | 148.10 |
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