India's largest hospitality company Indian Hotels Company Ltd on Monday said it is well poised to achieve its vision of 300 hotels by 2025, from the current portfolio of 260 hotels.
Indian Hotels Company Ltd (IHCL) said it accelerated portfolio expansion in FY 2022-23 which ended in March, with the signing of 36 new hotels and the opening of 16 new hotels, in the past year. The current pipeline stands at 73 hotels.
"With its current portfolio of 260 hotels, IHCL remains well poised to achieve its vision of 300 hotels by 2025," the company stated.
According to IHCL, with eight new hotel signings, the iconic brand Taj is slated to reach the 100-hotel milestone from 98 hotels currently.
Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, stated, "IHCL has witnessed a tremendous year of growth with unprecedented momentum of portfolio expansion. We signed a record 36 hotels in this financial year taking our portfolio to 260 properties.
"With this growth our managed hotels have now reached a share of 50 per cent from 32 per cent five years ago, resulting in a balanced portfolio mix. This was supported by a fast-paced opening of 16 new hotels".
