Indian Hotels Company Limited, the hospitality division of the Tata Group is looking to acquire boutique hotels chains in its efforts to nearly double its portfolio of hotels by 2030.
The company currently has a portfolio of 392 hotels, including 143 under development globally across 14 countries and in over 150 locations.
The company aims to reach 700 hotels with 70,000 rooms in total by 2030. IHCL will invest around INR 12 Billion ($142 Million) per year to achieve this goal. IHCL CEO Puneetchhatwal stated that the company had also allocated INR250 million ($3million) over the next three years for India’s promotion abroad.
Tata Group chairman N Chandrasekaran spoke about the acquisition of boutique hotels at IHCL’s 124th Annual General Meeting on Monday. IHCL can enter markets with smaller boutique hotels, which are often rooted locally.
“Everywh
