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.
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