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By Author
Published on February 6, 2024
In a remarkable display of resilience and strategic growth, The Indian Hotels Company Limited (IHCL) has once again outdone itself by reporting its seventh consecutive quarter of record performance. For the quarter ending December 31, 2023, IHCL's revenue saw a significant jump of 15% year-on-year, reaching an impressive INR 2,004 crores.
The company didn't just stop at revenue growth; it also reported an 18% increase in EBITDA, which stood at INR 772 crores. This boost in earnings comes with an equally impressive EBITDA margin of 38.5%. What's even more commendable is the Profit After Tax (PAT), which soared to INR 452 crores, marking an 18% increase compared to the previous year.
IHCL's domestic operations played a pivotal role in this quarter's success, with revenue reaching INR 1,323 crores, a 22% increase over the previous year. The domestic EBITDA margin was particularly noteworthy at 45.4%, indicating a robust expansion and operational efficiency.
Puneet Chhatwal, the Managing Director & CEO of IHCL, shared his enthusiasm over the Q3 FY24 results, emphasizing the all-time high consolidated EBITDA margin of 38.5% and a PAT margin of 22.6%. He attributed this success to the company's strong market performance, addition of new businesses, and scaling of existing ventures.
The period also saw IHCL making significant strides in expanding its portfolio. The company announced the signing of agreements for 28 new hotels and celebrated the opening of 16 hotels, including the iconic Taj Taal Kutir in Kolkata and Vivanta Tawang, bringing its total to 200 operating hotels.
IHCL's new business vertical, which includes brands like Ginger, Qmin, amã Stays & Trails, The Chambers, and TajSATS, has shown substantial growth, further diversifying and strengthening the company's revenue streams. Notably, the flagship Ginger hotel at Mumbai Airport reported an 80% occupancy and turned a net profit in its first month.
In related news, the Thomas Cook India Group reported impressive financial results for the first nine months of FY24, with a 132% increase in Consolidated EBITDA and a 258% YoY growth in Consolidated Profit Before Tax (PBT) for the third quarter.
As IHCL continues to break records and expand its horizons, the future looks promising for India's hospitality giant. With strategic expansions, diverse ventures, and consistent performance, IHCL is set to redefine hospitality excellence.
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By Manu Vardhan Kannan
Published on October 21, 2026
JK Urbanscapes Developers Limited (JKUDL), a member of the JK Organisation, has partnered with Minor Hotels to bring Anantara Retreats to India with a new luxury property in Darjeeling, West Bengal. Named Anantara Retreat Darjeeling Hills, the 70-key retreat will be developed within the 849-acre Tindharia Tea Estate and is scheduled to open in 2031.
The project involves an investment of ₹110 crore by JK Urbanscapes in partnership with Mr Kaushal Kumbhat. The development will mark the Indian debut of Anantara Retreats, a specialised luxury hospitality concept under Anantara Hotels & Resorts, part of Thailand-headquartered Minor Hotels.
Located in Tindharia, approximately 40 km from Darjeeling town, the working tea estate sits at elevations ranging from 450 to 1,000 metres above sea level. Its rolling tea gardens, mist-covered slopes and valley views will shape the guest experience, while tea-growing operations will continue across the estate.
Anantara Retreats focuses on secluded settings, combining premium accommodation and personalised service with wellness experiences. These include spa treatments, yoga, fitness, nutrition and mindfulness programmes, along with activities inspired by local culture and the natural surroundings.
Commenting on the signing, Abhishek Singhania, Chairman and Managing Director, JK Urbanscapes Developers Limited, said, “At JK Urbanscapes, we believe that exceptional developments begin with recognising the inherent potential of a place and preserving what makes it distinctive. Tindharia Tea Estate offers a rare opportunity to create a luxury hospitality destination that draws from the character of its landscape and the legacy of its tea-growing heritage. Our partnership with Minor Hotels brings together this distinctive setting and a globally renowned hospitality brand, reflecting our vision of building a portfolio of thoughtfully conceived destinations that offer enduring value while remaining deeply connected to their surroundings.”
The retreat will feature 35 suites and 35 tented villas positioned along the estate's slopes. Planned facilities include an Anantara Spa, a fitness centre and a swimming pool overlooking the tea plantation and valley. Guests will also have opportunities to explore the tea-growing process through experiences involving the estate's tea garden and factory.
The property will additionally offer 750 sq. m. of meeting and event space, catering to small MICE gatherings and destination weddings. Its wellness programmes will draw inspiration from the region's natural surroundings and tea-growing heritage.
Maneesh Mansingka, Joint Managing Director, JK Urbanscapes Developers Limited, said, “The development of Anantara Retreat Darjeeling Hills calls for an approach that is as thoughtful as it is commercially sound. The vision is to create a distinctive hospitality destination that draws from the natural character of Tindharia Tea Estate and its rich tea-growing heritage, while complementing the landscape in which it is set. By integrating accommodation, wellness and immersive tea-led experiences, we aim to create a retreat that offers guests a deeper connection with the destination while establishing a sustainable, long-term hospitality asset.”
The property will be located approximately 33 km from Bagdogra International Airport, with a road journey of around an hour. The airport connects the region with major Indian cities, including Delhi and Kolkata, along with select international destinations.
Dillip Rajakarier, Group CEO of Minor International, the parent company of Minor Hotels, said, “Anantara Retreats belong in places that shape the stay, and Darjeeling does exactly that. Guests will settle into a working tea estate above the valley, follow the leaf from garden to factory and return to a wellness programme built around the same unhurried pace. We look forward to welcoming guests to Anantara Retreat Darjeeling Hills in 2031.”
The project adds to JK Urbanscapes' hospitality development portfolio, bringing together luxury accommodation, wellness and tea-led experiences in one of West Bengal's established tea-growing regions.
By Hariharan U
Published on October 20, 2026
IHG Hotels & Resorts has signed a management agreement with AR Infra Consultancy to develop Crowne Plaza Hyderabad Shamshabad Airport Road, marking the Crowne Plaza brand's debut in Hyderabad. Scheduled to open in the first quarter of 2031, the 250-key hotel will strengthen IHG's presence in the city while targeting demand from airport transit, corporate travel, meetings and events.
The upcoming property will be located adjacent to Rajiv Gandhi International Airport and the 3.5 million sq. ft. World Trade Centre, positioning it within one of Hyderabad's emerging commercial and infrastructure corridors.
Shamshabad is witnessing development across commercial, industrial and logistics sectors, with aerospace facilities and mixed-use projects expected to support further business activity. The airport handled approximately 31 million passengers in 2025, while the development of the World Trade Centre and the expanding Aeronautical Park could add to the area's corporate travel potential.
For IHG, the signing reflects an opportunity to establish its premium Crowne Plaza brand in a location that combines airport connectivity with access to emerging business infrastructure. The hotel is expected to serve corporate travellers, event organisers, long-stay guests and professionals associated with industrial and infrastructure projects.
Commenting on the signing, Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, said Shamshabad presents a compelling growth opportunity given its proximity to the airport and the development of commercial infrastructure. He added that the property could address growing corporate, meetings and airport-related demand while strengthening IHG's premium portfolio in India.
P. Revanth Reddy of AR Infra Consultancy described the project as the company's first venture into the hospitality sector, building on its experience in real estate and infrastructure across Telangana and Andhra Pradesh. He said the partnership with IHG would support the development of a landmark hospitality destination and establish a foundation for the company's long-term presence in the sector.
Once operational, Crowne Plaza Hyderabad Shamshabad Airport Road will feature 250 keys, including 37 suites, alongside a range of dining, business and leisure facilities.
The planned food and beverage offering includes five outlets:
All-day dining restaurant: 187 seats
Bar: 65 seats
Specialty restaurant: 65 seats
Pool bar: 65 seats
Lobby lounge: 55 seats
The hotel will also feature 1,170 sq. m. of meeting and event space across five venues, including an 800 sq. m. ballroom. Additional facilities will include a club lounge, swimming pool, fitness centre, spa and parking spaces.
The combination of meeting facilities, multiple dining venues and leisure amenities is intended to position the property for corporate gatherings, conferences, social events and airport-linked stays.
The signing further expands IHG's presence in Hyderabad, where its existing portfolio includes two operational Holiday Inn Express hotels and an InterContinental hotel under development. The new Crowne Plaza will add a premium offering focused on business travel and MICE demand.
Across India, IHG currently operates 53 hotels across seven brands and has a pipeline of 110 hotels expected to open over the next three to five years. Its portfolio includes Six Senses, InterContinental Hotels & Resorts, Vignette Collection, Crowne Plaza, voco Hotels, Holiday Inn Resort and Holiday Inn Express.
The planned Crowne Plaza Hyderabad Shamshabad Airport Road adds to this expansion strategy, with the location offering access to airport traffic and the commercial developments expected to shape the region's growth over the coming years.
ITC Hotels Limited (ITCHL) has announced the signing of a 104-key Welcomhotel by ITC Hotels in Manesar, Gurugram, strengthening its presence in the National Capital Region (NCR). The upcoming premium hotel will cater to business and leisure travellers, while also offering facilities for weddings, conferences and social gatherings.
Developed as part of ITCHL's asset-right growth strategy, the hotel will feature elegantly designed rooms and suites, along with an all-day dining restaurant, bar, lounge and recreational spaces. It will also offer over 18,000 sq. ft. of indoor banqueting space and 22,000 sq. ft. of outdoor event space, making it suitable for weddings, exhibitions, conferences and large social events.
Speaking on the signing, Anil Chadha, Managing Director, ITC Hotels Limited, said, “As hospitality demand continues to evolve beyond traditional gateway cities, we remain focused on identifying destinations that offer strong long-term growth potential. Welcomhotel in Manesar is a strategic addition to our portfolio, bringing together a high-growth location, robust connectivity, and a thriving events market. This signing reinforces our commitment to delivering world-class hospitality experiences in emerging destinations while accelerating the growth of our asset-right portfolio."
Sushil Singh Chauhan, Partner, Green Path Prop Mart LLP, said, "We are delighted to work with ITC Hotels Limited for the development of Welcomhotel in Manesar. Together, we aim to deliver a distinguished hospitality experience that will serve both business and leisure travellers while contributing to the continued growth in the National Capital Region."
Located along National Highway 48 in Manesar, Haryana, the hotel will benefit from its connectivity to key economic centres and the scenic surroundings of the Aravalli landscape. Manesar has developed into an important industrial and economic corridor, supported by auto-component manufacturing, warehousing facilities, logistics parks and growing commercial activity.
Its location will help the hotel serve corporate travellers and social event guests from Delhi, Gurugram, Noida and Faridabad. The area also offers an alternative to busier city locations for weddings, conferences and leisure stays.
Upon completion, Welcomhotel Manesar Gurugram is expected to offer a combination of premium accommodation, wellness facilities, dining options and spacious event venues, further strengthening ITC Hotels Limited's presence in the NCR hospitality market.
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