IHCL enters into a strategic partnership for 150+ hotels in India
IHCL portfolio reaches 550+ hotels and ~ 55,000 rooms
Indian Hotels Company (IHCL), India’s largest hospitality company, today entered into a strategic partnership, signing definitive agreements to acquire a controlling stake in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, and signed a distribution agreement with Brij Hospitality Pvt Ltd. With many decades of hospitality experience, the promoters of these companies belong to the illustrious Clarks Hotels family. This takes IHCL’s portfolio to over 550 hotels.
Speaking on the milestone occasion, Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL, said, “India’s hospitality sector has witnessed sustained demand momentum over the last three consecutive fiscal years, reflective of the country’s growing economic prominence and rising discretionary spends. The outlook for the sector remains buoyant as demand outpaces supply and India continues to be an underserved hospitality market, especially in the mid-market segment. Our partnership with ANK, Pride, and Brij Hospitality is a multi-pronged approach addressing India’s heterogeneous market landscape and is in line with IHCL’s five-year road map ‘Accelerate 2030’ of unlocking India’s tourism potential.”
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