Fresh from its demerger from ITC Ltd., ITC Hotels has revised its growth ambitions, setting a target of 220 hotels by 2030, up from the earlier goal of 200.
Currently, the hospitality chain operates 140 properties across India under brands such as ITC Hotels, Welcomhotel, Fortune, and Storii. The expansion will be driven largely by asset-light management contracts, allowing ITC to scale without heavy capital expenditure.
In FY24, the company signed 30 management agreements, adding over 3,000 keys to its network. The current development pipeline includes 58 hotels with more than 5,300 rooms.
Chairman Sanjiv Puri attributed the bullish outlook to the resurgence in tourism post-pandemic and the government’s infrastructure push. “With India’s growing appeal as both a leisure and business travel destination, we are confident of surpassing our targets well before schedule,” he said.
Industry analysts believe ITC Hotels’ strategy aligns with the broader trend of hospitality companies seeking growth via flexible partnerships rather than ownership-heavy models.