ITC Hotels Targets 250 Properties, 22,000 Keys in 5 Years

New Delhi, Aug 6 (PTI) ITC Hotels aims to expand its operating portfolio to 250 properties with over 22,000 keys in the next five years, supported by a strong contracts pipeline, Chairman Sanjiv Puri said on Thursday.

Addressing the company's Annual General Meeting (AGM), Puri said the hospitality major will continue to pursue an asset-right growth strategy while investing in new properties and expanding its footprint through management contracts and acquisitions.

"In line with our asset-right strategy, we will continue to invest in promising opportunities while pursuing management contracts that are aligned to our strategic vision and business objectives. A pipeline of 78 hotels with over 8,000 keys supports our ambition to scale the operating portfolio to 250 hotels and over 22,000 keys over the next five years," he said.


Addressing the shareholders, Puri informed that the company is investing in the development of new properties in Puri, Visakhapatnam and Delhi, while expanding its hotel in Bhubaneswar, together adding nearly 670 rooms to its portfolio.

"Inorganic growth is also being pursued through the acquisition of a new property in Kerala and the signing of another in Ahmedabad. In addition, the company has recently signed agreements for properties in Ayodhya, Bodh Gaya, Gandhinagar, Guwahati, Jaipur, Rajgir, Shahjahanpur and Shirdi, further strengthening its presence across key destinations for pilgrimage, heritage, weddings, leisure, wellness and emerging business travel," he said.

Puri also underscored the long-term potential of India's tourism sector, saying the country should build the necessary ecosystem to significantly boost inbound tourist arrivals.

"Given the extremely rich tapestry of destinations, it is imperative that pathways are crafted to achieve the country's aspiration to move from tourism potential to tourism leadership, attracting 100 million inbound visitors by 2047," he said.