ITC plans to open more hotels in neighborieng counties. The company, which opened 22 new properties in the last 24 months, plans to add another 70 hotels in the next five years in India as part of expansion plans in the hospitality sector, said its chairman and managing director, Sanjiv Puri.
The Calcutta-based giant formally launched its first luxury hotel outside the country at Colombo in Sri Lanka recently. Sri Lankan President Ranil Wickremesinghe, while inaugurating the Colombo property, said: “ITC Ratnadipa will become a symbol of Colombo and its tourism industry. I hope this attracts more Indian companies to set up hotels here.”
On the occasion, Sanjiv Puri said the ITC’s next stop will be Nepal, where the company has land to build upscale hotels.
The next hotel that ITC will build after Colombo will be in the temple town of Puri, in Odisha. The company is in the process of pulling down the guest house it had there to make way for a WelcomeGroup-branded hotel, he said. “ITC will not only set up its own hotel but is also exploring options for management contracts in that market,” Puri added.
“Of the 70 new hotels that ITC is planning to open in the next five years in India, most of which will be under management contracts, The aim is to spend Rs 700 to 1,000 crore for refurbishment and new property development,” he said, adding that the focus is going to be on proximal markets, be it for FMCG or hospitality.
According to the ITC, it has invested $500 million to develop the ITC Ratnadipa and a super-luxe residential block facing the Indian Ocean on Galle Face in Colombo.
Leave a comment