Indian Hotels Company Ltd (IHCL) has signed 52 hotels during the fiscal year 2024, nearly tripling the number of signings compared to the previous year. This accelerated expansion reflects IHCL's goal of growing its portfolio to over 300 hotels as part of its 'Ahvaan 2025' strategy. IHCL also opened 34 hotels in FY24, achieving its target. Executives highlighted strategic growth through upscale full-service hotels and existing partnerships, with a diversified pipeline including international and airport locations that reinforces IHCL's domestic leadership while facilitating international expansion.
Indian Hotels Company Ltd (IHCL) has signed 52 hotels during the fiscal year 2024, nearly tripling the number of signings compared to FY22. This accelerated pace of expansion underscores IHCL's commitment to growth and its ability to capitalize on emerging opportunities in the hospitality sector.
In addition to the impressive number of signings, IHCL also opened 34 hotels in this fiscal achieving its 300 plus hotels target under Ahvaan 2025 ahead of schedule. This is IHCL's highest-ever hotel signings in FY24 and reflects strong domestic demand resulting in an increase in average room rates and improved profitability for owners. In FY22 and FY23 IHCL had signed up 19 and 36 hotels respectively.
IHCL is renowned for its luxury properties under the Taj brand. IHCL and its subsidiaries operate a group of hospitality brands including the Taj, SeleQtions, Vivanta, and Ginger. Currently, IHCL boasts a portfolio of 309 properties, comprising 218 operational hotels and 91 others in the pipeline, indicating a robust growth trajectory for the company.
In May 2022, the Tata Group-backed IHCL rolled out a strategy -'Ahvaan 2025'- to restructure its entire portfolio of hotels. The strategy included expanding its portfolio to 300-plus hotels, achieving a zero net debt firm and clocking 33% Ebitda margin by FY26. IHCL also intends to restructure its portfolio to achieve a 50:50 mix between its owned-leased and managed hotels.
IHCL became a zero net-debt company in March 2022 itself and also achieved most other objectives under Avhaan 2025. The company's recent achievements underscore its commitment to realizing these ambitious goals and solidifying its position as a leading player in the global hospitality industry.
The 52 signed properties include hotels in international locations such as South Asia and Frankfurt, as well as strategic locations like airports in Delhi, Kochi, and Goa, reflecting IHCL's diversified expansion strategy.
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