ITC Hotels, a prominent player in the Indian hospitality sector, is poised to extend its brand presence beyond national borders with its upcoming venture, ITC Ratnadipa in Colombo, Sri Lanka. This move marks the company's first foray into the international market, underlining its commitment to global expansion and the exploration of new territories.

Following an 'asset right' strategy, which emphasises growing its management portfolio, ITC Hotels has successfully launched 24 properties over the past two years. This approach has facilitated the introduction of two new brands, Storii and Mementos, amidst the Covid-19 pandemic, both of which have seen rapid growth and expansion.

Adding to its portfolio, the company is set to open the second luxury Mementos property in Jaipur city by the end of this month. Furthermore, ITC Hotels has entered into a management agreement with Narne Hotels and Resorts to develop a new Welcomhotel in Coorg, Karnataka. Nestled in the picturesque hill town of Madikeri, the upcoming property will boast 150 rooms, two restaurants and bars, a lounge, and over 1,300m² of versatile meeting space, aiming to cater to the growing popularity of the region as a leisure travel destination.

Anil Chadha, ITC Hotels divisional chief executive, expressed enthusiasm about the expansion, stating, "Madikeri is an important market for ITC Hotels... With this signing, ITC's Hotel group further strengthens its presence in Karnataka, where we currently operate 11 hotels and over 1,300 rooms under various brands including ITC Hotels, Welcomhotel, Fortune, and Welcomheritage."

This strategic expansion comes on the heels of the company's announcement last December, aiming to increase its hotel room inventory by 50% over the next five years. The target is to operate 200 hotels with 18,000 keys, with two-thirds of the new inventory expected to be in the managed portfolio by 2028.

ITC Hotels' venture into international markets and its continued growth in Southern India are testament to the brand's ambition to become a significant player in the global hospitality industry, offering high-quality, luxurious, and memorable experiences to guests worldwide.