Tue Dec 17 08:29:29 UTC 2024: ## ITC Hotels to Expand Rapidly After Demerger
**Mumbai, India –** ITC Hotels, soon to be an independent entity following its demerger from the ITC group, has ambitious expansion plans. The company, currently operating 140 hotels with approximately 13,000 rooms across India, aims to increase its portfolio to over 200 hotels in the coming years.
This aggressive growth strategy will leverage a predominantly asset-light model, focusing on management contracts rather than outright ownership. The company anticipates adding an average of one hotel per month for the next two years, building on the recent addition of 28 managed hotels since November 2022. This expansion will encompass its six brands: ITC Hotels, Fortune, Mementos, Storii, WelcomHeritage, and Welcomhotel.
Recent openings showcase the diversity of the company’s offerings, from the Fortune Beachfront resort in Puri to the Storii hotel in Jaisalmer, ideal for weddings and events. New Welcomhotel properties have also launched in Jabalpur and Belagavi. Future projects include Welcomhotels in Delhi, Gangtok, and Gwalior, and Storii hotels in Jawai and Jaipur.
ITC Hotels’ international ambitions are evident with the April 2024 opening of the ITC Ratnadipa in Colombo, Sri Lanka – a 352-room luxury hotel featuring nine restaurants and part of Marriott’s Luxury Collection.
The demerger is expected to provide ITC Hotels with greater autonomy and flexibility to pursue its expansion strategy. The company’s strong financial performance in the quarter ending September 2024, with a 12.1% year-on-year revenue increase and a 20.2% rise in profit before tax, further supports its optimistic outlook.
First Piper 