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
  • About Us: Planning for a low-cost business to start? SQAC franchise..
    Locations looking for expansion Goa
    Establishment year 2015
    Franchising Launch Date 2015
    Investment size Rs. 50000 - 2lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater North Goa Goa
  • Skills / Personality Development
    About Us: Tally Brains are a TNP based registered firm that..
    Locations looking for expansion CHHATTISGARH
    Establishment year 2013
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required 700
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater RAIPUR CHHATTISGARH
  • Activity Centres, Day Care & Creches
    About Us: 'Wings', a part of the Shivam Eduwings Foundation, is..
    Locations looking for expansion West bengal
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Saltlake West bengal
  • Casual Dine Restaurants
    About Us: Established in Hyderabad in the year 2003, Kritunga is..
    Locations looking for expansion Telangana
    Establishment year 2003
    Franchising Launch Date 2006
    Investment size Rs. 30lac - 50lac
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Serilingampalli Telangana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities