ITC to demerge the hotels business

It was long awaited and finally ITC‘s board has taken the decision to demerge the hotels business into a new entity. Name of the new entity is proposed to be “ITC Hotels Limited (IHL)” In such kind of demergers, normally existing shareholding of the main Company gets replicated in the new entity i.e., 1:1 share … Read more

Chalet signs up Taj for the upcoming Airport Hotel

Chalet has an under construction property at Terminal 3 of the Delhi Airport. It is scheduled to be commissioned by FY 26 The property is planned to have 400 rooms The Company has now signed up with Indian Hotels for franchise of the marquee ‘Taj’ brand for this property. Without doubt this is one of … Read more

Radisson Hotel Group announces entry of luxury lifestyle brand in India

Radisson Hotel Group on Wednesday announced the entry of its luxury lifestyle brand “Radisson Collection” in India with the signing of the first hotel in Hyderabad. The 300-room hotel is close to the city’s financial district, which houses business centres, IT parks and Special Economic Zones (SEZs). The hotel would be operational by the second … Read more

Key business plans of Mahindra Holidays

Mahindra Holidays and Resorts has shared the following – The company had 2.8 lakh members as of December 2022. It will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 cr At present, the company has 4,900 keys inventory across 119 properties; 60 per cent of … Read more

Sanjiv Puri shares some key insights

ITC‘s Chairman and MD, Sanjiv Puri has shared the following – Indian FMCG industry will bounce back by volume sales growth from FY24, led by rural demand, with early signs of recovery already visible. concerns around monsoons this year can be a dampener (he didn’t mention it) ITC will accelerate investments across businesses back to … Read more