ITC Hotels Debuts on Stock Market, Plans Expansion
By Rediff Money Desk, New Delhi Jan 29, 2025 16:54
ITC Hotels, the newly demerged hospitality arm of ITC Ltd, has listed on the stock exchanges and plans to expand its portfolio to over 200 hotels in 5 years. The company has a strong focus on sustainability and inclusivity.
![ITC Hotels Debuts on Stock Market, Plans Expansion](https://im.rediff.com/money/2019/jan/09itc-hotel1.jpg?fr=money)
Photograph: Kind courtesy, ITC Hotels
New Delhi, Jan 29 (PTI) ITC Hotels -- the new entity after the demerger of the hotels business of diversified conglomerate ITC Ltd that listed on the stock exchanges on Wednesday -- said it plans to expand its portfolio to over 200 hotels over the next five years.
At present, ITC Hotels operates a bouquet of over 140 properties with over 13,000 keys in more than 90 locations.
The new pure play hospitality company said it will continue to pursue its asset-right strategy to expand its footprint across India and in proximal markets.
"Debuting with a zero-debt balance sheet and a cash/cash equivalents of Rs 1,500 crore to cater to planned growth and contingency requirements, ITCHL is now listed for trading on the stock exchanges," ITC Hotels said.
ITC Ltd retains a 40 per cent stake in ITCHL, while the remaining 60 per cent is distributed among existing shareholders.
"This strategic share-holding structure positions ITCHL to deliver long-term value to all stakeholders while accelerating its independent growth trajectory," ITC Hotels said.
Speaking at the listing programme at the NSE, ITC Hotels Ltd Chairman Sanjiv Puri said, "Today is indeed a landmark moment in ITC's journey. Listing of ITC Hotels marks not just a new chapter for the ITC Group's hospitality business but a bold step forward in our commitment to creating enduring value for all stakeholders. As ITC Hotels embarks on this new journey, it is committed to achieving new global benchmarks in hospitality while staying rooted in its vision of sustainability and inclusivity".
ITC Hotels Ltd Managing Director Anil Chadha said, "We aim to be a global leader in Indian hospitality driven by our core ethos of customer centricity, high performance and steadfast commitment to sustainability."
ITC Hotels Ltd has a portfolio through six brands -- ITC Hotels and Mementos in the luxury space, Welcomhotel in upper upscale, Storii in boutique premium experiential segment, Fortune in midscale, and WelcomHeritage in heritage leisure.
"Today, ITC Hotels operates a bouquet of over 140 properties with over 13,000 keys in over 90 locations. It plans to expand its portfolio to over 200 hotels with over 18,000 keys over the next five years, with approximately 2/3rds salience of managed properties," it stated.
It has launched 30 hotels within 24 months recently (as on December 31, 2024), and has a robust target of adding at least one hotel a month on an average over the next 24 months, it added.
The stock listed at Rs 188 on the BSE, while on the NSE it began the trade at Rs 180.
Later the stock declined 5 per cent to Rs 178.60 on the BSE.
At the NSE, it went lower by 3 per cent to Rs 172. The firm's market valuation stood at Rs 39,126.02 crore.
Demerger of ITC's hotel business came into effect on January 1, 2025, with January 6 fixed as the record date. The move separated ITC Hotels from the parent entity.
At present, ITC Hotels operates a bouquet of over 140 properties with over 13,000 keys in more than 90 locations.
The new pure play hospitality company said it will continue to pursue its asset-right strategy to expand its footprint across India and in proximal markets.
"Debuting with a zero-debt balance sheet and a cash/cash equivalents of Rs 1,500 crore to cater to planned growth and contingency requirements, ITCHL is now listed for trading on the stock exchanges," ITC Hotels said.
ITC Ltd retains a 40 per cent stake in ITCHL, while the remaining 60 per cent is distributed among existing shareholders.
"This strategic share-holding structure positions ITCHL to deliver long-term value to all stakeholders while accelerating its independent growth trajectory," ITC Hotels said.
Speaking at the listing programme at the NSE, ITC Hotels Ltd Chairman Sanjiv Puri said, "Today is indeed a landmark moment in ITC's journey. Listing of ITC Hotels marks not just a new chapter for the ITC Group's hospitality business but a bold step forward in our commitment to creating enduring value for all stakeholders. As ITC Hotels embarks on this new journey, it is committed to achieving new global benchmarks in hospitality while staying rooted in its vision of sustainability and inclusivity".
ITC Hotels Ltd Managing Director Anil Chadha said, "We aim to be a global leader in Indian hospitality driven by our core ethos of customer centricity, high performance and steadfast commitment to sustainability."
ITC Hotels Ltd has a portfolio through six brands -- ITC Hotels and Mementos in the luxury space, Welcomhotel in upper upscale, Storii in boutique premium experiential segment, Fortune in midscale, and WelcomHeritage in heritage leisure.
"Today, ITC Hotels operates a bouquet of over 140 properties with over 13,000 keys in over 90 locations. It plans to expand its portfolio to over 200 hotels with over 18,000 keys over the next five years, with approximately 2/3rds salience of managed properties," it stated.
It has launched 30 hotels within 24 months recently (as on December 31, 2024), and has a robust target of adding at least one hotel a month on an average over the next 24 months, it added.
The stock listed at Rs 188 on the BSE, while on the NSE it began the trade at Rs 180.
Later the stock declined 5 per cent to Rs 178.60 on the BSE.
At the NSE, it went lower by 3 per cent to Rs 172. The firm's market valuation stood at Rs 39,126.02 crore.
Demerger of ITC's hotel business came into effect on January 1, 2025, with January 6 fixed as the record date. The move separated ITC Hotels from the parent entity.
Source: PTI
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