Indian Hotels Company has expanded its portfolio by over 550 hotels after signing a distribution agreement.
Indian Hotels Company announced a partnership that involved the acquisition of control stakes in ANK Hotels Pvt Ltd, Pride Hospitality Pvt Ltd, and Brij Hospitality Pvt Ltd. IHCL has now more than 500 hotels in its portfolio.
This partnership will include a portfolio 135 hotels operating in the midscale segment, operated by ANK Hotels Pvt Ltd. These properties are currently under The Clarks Hotels & Resorts brand and will be integrated into IHCL’s brandscape, primarily under the Ginger brand. Integration is expected to take place over the next several months. Management contracts and some operating leases are part of the arrangement for these hotels.
Brij Hotel Pvt. Ltd. operates 19 hotels located in unique locations across India in the experiential-leisure segment. This new addition will help IHCL expand its presence in the boutique market.
The strategic move is aligned with IHCL’s “Accelerate 2030” roadmap, which focuses to unlock India’s tourism potencial. The expansion will double IHCL’s midscale hotel presence, to more than 240 hotels. This will meet the needs of the mid-market segment.
IHCL’s internal accruals will cover the investment. The primary focus of the investment will be to unlock value from existing assets and support future growth opportunities.
Key management personnel from ANK Hospitality, Pride Hospitality, and Brij will continue to supervise operations. This will ensure business continuity and facilitate future growth.
IHCL’s partnership with IHCL reflects India’s hospitality sector’s continued growth in the last three financial years. The company hopes to capitalize on this demand by expanding both its midscale and boutique leisure offerings.
