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By Nishang Narayan
Published on October 7, 2024
The Indian Hotels Company (IHCL) has marked impressive growth in the first half of FY 2025, with 35 new signings and 12 hotel openings, bringing its total portfolio to 345 hotels. The company also boasts an industry-leading pipeline of 115 hotels, reflecting its aggressive expansion strategy.
Speaking about this momentum, Suma Venkatesh, Executive Vice President – Real Estate & Development at IHCL, emphasized the buoyancy in the travel and tourism sector. She remarked, "IHCL's record signings in H1 FY 2025 across our diverse brandscape is a testament to the trust of our partners and the premium positioning of our brands. This expansion aligns with the growing demand for hospitality beyond India's top ten cities, as 70% of our new signings are in emerging markets like Srinagar, Varanasi, Mangalore, Kanpur, Mysore, Hosur, and Lonavala."
Venkatesh also highlighted IHCL's international growth, with signings in Bhutan and Bahrain, and a 200-key Taj project set to launch in Ranchi. These strategic moves underscore the company’s commitment to both domestic and international markets.
Adding to this, Deepika Rao, Executive Vice President – Hotel Openings & New Businesses, highlighted that the company’s hotel openings have kept pace with their ambitious target of opening two hotels per month. In the first half of FY 2025, IHCL expanded its footprint with a Taj in Patna, SeleQtions at Mahabaleshwar, and a Ginger hotel in Nagpur. Additionally, the company enhanced its presence in cities such as Srinagar, Gangtok, Udaipur, Jamshedpur, Coimbatore, and Delhi.
In the second quarter, IHCL also launched a reimagined Gateway brand with a new hotel in Bekal and the migration of four hotels located in Nashik, Coonoor, Madurai, and Chikmagalur.
With a strong focus on both domestic and international expansion, IHCL is well-positioned to continue its industry-leading growth trajectory, meeting the growing demand for premium hospitality across diverse markets.
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Hyatt Hotels is doubling down on its asset-light strategy with a major move—selling Playa Hotels’ real estate portfolio to Tortuga Resorts for $2 billion. This follows Hyatt’s acquisition of Playa in February for $2.6 billion, including debt. Playa operates 24 luxury all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic.
The sale covers 15 of Playa’s resort assets, effectively reducing Hyatt’s net purchase price for the remaining Playa business to around $555 million. The deal, still pending regulatory nods in Mexico, is expected to close before the end of 2025.
As part of the arrangement, Hyatt and Tortuga will enter into 50-year agreements for these properties, allowing Hyatt to continue managing the resorts. Thirteen of the resorts will operate under Hyatt’s standard management fee structures, with two under separate agreements.
Hyatt CEO Mark Hoplamazian called the move transformational, noting it turns the Playa acquisition into a fully asset-light transaction. "It also ramps up our fee-based earnings," he added. Hyatt now anticipates its asset-light earnings mix could hit at least 90% by 2027.
Analysts view the swift real estate divestment positively, seeing it as a smart way for Hyatt to stay nimble while bolstering returns. Proceeds from this deal will primarily go toward repaying loans taken to finance the Playa buyout.
Novotel Visakhapatnam Varun Beach, a flagship Accor property, has proudly announced that it has been awarded the Green Key Certification, a globally recognised eco-label that underscores excellence in sustainable tourism and hospitality.
Granted by the Foundation for Environmental Education (FEE)—one of the world’s leading environmental education organisations and recognised by the Global Sustainable Tourism Council (GSTC)—the certification marks a significant milestone in the hotel’s ongoing efforts to integrate eco-friendly practices without compromising guest comfort or luxury.
Lakshmi Sridhar, General Manager, Novotel Visakhapatnam Varun Beach, said, “At Novotel Visakhapatnam Varun Beach, we believe that sustainability is not just a responsibility, but a way of life. Being Green Key certified reinforces our commitment to offering eco-conscious experiences that align with global environmental standards.”
The hotel has rolled out various impactful initiatives, from using clean, renewable energy and implementing robust waste management practices to driving water conservation, enhancing energy efficiency, and sustainably sourcing products. These measures are designed to benefit not only the environment but also the local community.
As travel trends increasingly lean towards conscious luxury and responsible tourism, this certification positions Novotel Visakhapatnam Varun Beach as a leader in sustainable hospitality in India.
Indian Hotels Company (IHCL), India’s largest hospitality player, has announced the signing of a new Vivanta property in Anjuna, Goa. This greenfield project marks another step in IHCL’s strategy to grow its presence across key leisure destinations in India.
Strategically located in Anjuna, celebrated for its vibrant culture and beaches, the upcoming Vivanta Anjuna, Goa will feature 110 well-appointed rooms. Guests can look forward to an array of facilities including an all-day diner, a bar, a swimming pool, a fully equipped gym, and modern conference spaces, catering to both leisure and business travellers.
Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL, shared, “IHCL has been at the forefront of pioneering destinations and has played a defining role in putting Goa on the global tourism map for over five decades. This signing is in line with our strategy to expand IHCL’s presence across segments in key leisure markets. We are delighted to strengthen our partnership with Fiesta Hotels with this new project.”
The hotel is being developed by Fiesta Hotels Pvt. Ltd., led by directors Ravinder Kumar, Manju Vardhan, Raj Vardhan, Harsh Vardhan, Gagan Garg, and Gaurav Garg, who have deep investments in real estate and hospitality. Ravinder Kumar, Director, Fiesta Hotels Pvt. Ltd., said, “We are proud to collaborate with IHCL through the addition of our second hotel in Goa. It stands as a testament to our shared vision to deliver exceptional experiences in one of India’s most cherished destinations.”
Goa continues to attract travellers with its sun-soaked beaches, Portuguese-era architecture, thriving culinary and music scene, and vibrant local communities. With this signing, IHCL’s Goa portfolio grows to 18 hotels, including five under development, underscoring its long-standing commitment to shaping Goa’s tourism landscape.
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