ITC Ltd.

ITC plans to add 5,000 hotel rooms in the next five-seven years across four brands and it is likely to have portfolio of about 150 hotels in the years to come. Currently, about 40 hotels are under various stages of development, which will be either owned or managed by the company under one of the four brands.

The company has three-four hotels under construction in the premium luxury segment and another six-seven hotels on the drawing board, while about 28 Fortune hotels and five WelcomHeritage properties are in the pipeline. Recently, three ITC luxury hotels have been planned, which includes a 600-room integrated hotel complex, the ITC Grand Chola in Chennai, a 400-room hotel adjacent to the ITC Sonar in Kolkata and a luxury resort at the ITC Classic Golf Resort in Gurgaon.

ITC aims to expand in the super-premium luxury segment. All these investments would be funded through internal sources. ITC recently introduced a sub-brand, My Fortune under its Fortune brand. The Fortune brand comprises upscale or four-star category properties. The company has re-branded its Chola Sheraton property in Chennai as a ‘My Fortune' hotel.