Future IHCL for the same ratio of asset-light, owned hotels

Future IHCL for the same ratio of asset-light, owned hotels

In the coming days, the Tata Group-backed Indian Hotels Company Ltd prefers to have an equal percentage of asset-light and owned hotels, according to an official. According to him, IHCL, which owns the Taj premium hotel brand, has 46 percent of its properties in asset-light mode. At the unveiling of Taj City Centre in New Town, IHCL managing director and chief executive officer Puneet Chhatwal remarked, “The objective is to make it to 50% asset-light and the remainder for owned or leased.” “Today, the company has 177 sites in the country, including all of its brands, such as Vivanta and Ginger,” he explained.

Most of the hotels, which are in the pipeline, are on the asset-light model, except four or five, Chhatwal said. IHCL is exploring bringing new brands to Kolkata and other parts of West Bengal, he said, adding that preliminary talks with the state tourism department have taken place to introduce the homestay brand ‘Ama’. The hospitality major has entered into a partnership with the Kolkata-based Ambuja Neotia group for six properties. ”We want to raise it to ten with the group,” he said. Ambuja Neotia group chairman Harsh Vardhan Neotia said the Taj City Centre was a Swissotel brand, which existed from 2010 to 2020. This is the second ‘Taj’ luxury property in the city, after Taj Bengal. Neotia said it was a business hotel, now made into a luxury one with 137 rooms and ten suites. The cost of the makeover to a ‘Taj’ brand will be around Rs 80-90 crore, he added.

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