IHCL Achieves New Growth Record in 2024

IHCL Achieves Growth Milestone in 2024

Indian Hotels Company (IHCL) set a new growth benchmark in 2024 with 85 signings and 40 openings, bringing its portfolio to 360 hotels and its pipeline to 123 hotels.

Ms Suma Venkatesh, Executive Vice President – Real Estate & Development at IHCL, said, “This record growth performance is attributed to the continued expansion of the brandscape. IHCL launched the re-imagined Gateway, a full-service hotel offering in the upscale segment, acquired a majority shareholding in Tree of Life brand holding company, added a boutique leisure offering and entered into a brand license agreement for The Claridges, commencing with the management of the brand’s landmark hotel in New Delhi, extending IHCL’s luxury portfolio. In line with IHCL’s strategy Accelerate 2030, the growth continues to be focused on capital light, accounting for 75% of the year’s signings.”

She added, “The iconic Taj brand remains at the forefront of this growth with 19 signings in 2024. This is reflective of the growing affluence and demand for luxury experiences with signings spanning metros, pilgrimage locations, leisure destinations, and state capitals in India as well as in key international markets. Taj with a portfolio of 125 hotels, renowned for its legacy of world class hospitality not only remains the driving force in IHCL’s brandscape but is also among the top luxury brands in the world for its scale and brand strength.”

IHCL’S PORTFOLIO AS ON 31^st DECEMBER 2024

Ms Deepika Rao, Executive Vice President – of Hotel Openings & New Businesses, IHCL, added, “2024 marked IHCL’s highest openings at 40 hotels across brands with Ginger launching 10 hotels in the year. Among others, hotels were opened in new destinations like Munnar, Mahabaleshwar, and Jaisalmer, extending the leisure itinerary and adding to our presence in Goa and Gangtok. Developing the pilgrimage circuit along the east coast of India, a Taj resort in Puri launched with 90 keys and a SeleQtions in Tirupati opened with 118 keys.”

She added, “With the recent opening of a Taj at Cochin International Airport, a joint development with CIAL, Taj has grown its presence across the country’s prominent airports of Mumbai and Bengaluru in addition to the upcoming Taj at New Delhi airport.”

IHCL is well poised to achieve its goal of a 700-hotel portfolio under its strategy – Accelerate 2030.