Hotline: 1800 102 2007
Hotline: 1800 102 2007
May, 03 2019

Indian Hotels Eyes Adding 1,900 New Rooms In FY20

Out of these, 900 rooms will be added under its luxury brand Taj; 500 under SeleQtions, its newly launched ‘distinct hotel category’; and 500 additional rooms would come under its budget segment Ginger.

Indian Hotels Eyes Adding 1,900 New Rooms In FY20

The Indian Hotels Company Ltd, the owner of the iconic Taj hotel, has inked contracts for managing 22 new properties in the previous financial year.

By signing these new contracts, the Tata Group’s hotel arm will be adding 1,900 rooms to its existing capacity by FY20. Out of these, 900 rooms will be added under its luxury brand Taj; 500 under SeleQtions, its newly launched ‘distinct hotel category’; and 500 additional rooms would come under its budget segment Ginger.

Puneet Chhatwal, Managing Director of Indian Hotels Company, said, “We expect to open 1,900 rooms in FY20 out of which 75 percent will be in the premium category. The share of management contract rooms in the company’s portfolio has gone from 32 percent to 40 percent in FY19.”

The company looks to launch one hotel every month till March 2020. It said that the current fiscal has been positive so far with the sign up of four more properties.

“Indian Hotels will continue with its strategy of monetising assets backed by strong fundamentals. The company has monetised two assets in its subsidiary Oriental Hotels in Vishakapatnam and Trivandrum. We will continue doing this in secondary and tertiary markets,” Chhatwal further added.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Others Food Service
    About Us: Established in the year 2001,  Kakal Kai Ruchi is..
    Locations looking for expansion Karnataka
    Establishment year 2001
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Juices / Smoothies / Dairy Parlors
    About Us: Shake Busters is uniquely positioned to offer fresh, refreshing..
    Locations looking for expansion Delhi
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 5lac - 10lac
    Space required 60
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Delhi
  • Casual Dine Restaurants
    About: Gola Sizzlers is a well established authentic chain of restaurants..
    Locations looking for expansion Delhi
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 50lac - 1 Cr.
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Gyms And Fitness Centres
    About Us: UK's leading fitness chain now enters India to provide..
    Locations looking for expansion New Delhi
    Establishment year 2003
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities