Also planning to open six new hotels by 2018.
ITC ltd is planning to open its first five star property in India’s topmost tourist destination Goa and is planning to acquire the Ramada Caravela Beach Resort from Advani Hotels & Resorts at a cost of Rs 700 crore.
Speaking on the same, ITC Spokesperson, said, “As a policy we refrain from commenting on speculation related to the future plans of the organisation.”
However the brand presently operates a mid-market brand Fortune hotel in Goa and has been on the hunt for a bigger property for some time now. The Ramada property has substantial scope for expansion and is very close to the sea, making it an ideal choice for a luxury hotel operator.
Currently, ITC operates more than 90 hotels under four distinct brands--ITC Hotel at the luxury end, Welcom Hotel in the 5-star segment, Fortune in the mid-market to upscale segment and Welcom Heritage in the heritage leisure segment. The group is also planning to open six new hotels by 2018.