Puneet Chhatwal, MD & CEO of IHCL, discusses the projected increase in management fee income, expecting it to reach Rs 550 crore by 2025-26. He highlights the high flow-through of management fee business, stating that it is expected to grow at a rate of over 20% per annum. Chhatwal mentions the significant contribution of fee-based business and operating leases to IHCL s overall revenue. He concludes with confidence in the company s financial growth and the potential for further margin expansion.
Suma Venkatesh, executive vice president - real estate and development, IHCL said 2023 marks six consecutive years of portfolio expansion in the Indian subcontinent. "Our approach to growth has been two pronged, penetrating deeper in existing markets with multiple brands and extending our footprint to new destinations taking our presence to over 130 locations," she added.
Indian Hotels Company (IHCL) has signed an agreement to open a third hotel in Ayodhya, Uttar Pradesh. The brownfield project will be branded as an IHCL SeleQtions hotel and is part of IHCL s strategy to establish a significant presence in spiritual destinations. The 150-key hotel will feature various dining options, a spa, swimming pool, fitness center, and over 10,000 square feet of banqueting space.
India Business News: Taj's parent company, Indian Hotels Company Ltd (IHCL), has signed its third property in Ayodhya. The recent agreement is for a brownfield project tha
“It is a great opportunity for India because as we may be a young country, but we have the oldest history. I think spirituality will be a key differentiator for the generations to come and nobody has that kind of spiritual history like we have.”