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By Manu Vardhan Kannan
Published on January 17, 2025
ITC Ltd. has taken a significant step in reshaping its hospitality business by allotting 125.11 crore equity shares of ITC Hotels to its shareholders. This development finalizes the demerger of ITC Hotels as an independent entity and is part of the conglomerate’s strategy to unlock value and focus on a sharper capital allocation approach.
The decision, made during a Board meeting on January 11, 2025, follows a scheme of arrangement under Sections 230 to 232 of the Companies Act, 2013. As per ITC’s exchange filing, “The Board of Directors of ITCHL...has allotted 125,11,71,040 equity shares of INR 1 each to the shareholders of the company as of the record date, January 6, 2025.”
Strategic Implications of the Demerger
Effective January 11, 2025, ITC Hotels ceased to be a subsidiary of ITC Ltd., with plans to list the newly issued shares after securing regulatory approvals. Until then, these shares will remain frozen. ITC will retain 40 percent of the hotel business, while the remaining 60 percent will be distributed among existing ITC shareholders.
ITC’s demerger is expected to attract investors and strategic partners aligned with the hospitality sector's specific needs. The move also enhances shareholder value by providing a direct stake in ITC Hotels, which will now benefit from independent market-driven valuation.
India’s Second-Largest Hotel Chain
With a portfolio of 140 properties, ITC Hotels has emerged as India’s second-largest hotel chain. Its offerings range from iconic luxury hotels such as ITC Grand Bharat to premium brands like WelcomHotel, catering to diverse travelers across major cities and tourist destinations.
The company’s transition aligns with ITC’s “asset-right” strategy, focusing on optimized capital allocation within its hospitality arm. This demerger is expected to position ITC Hotels for greater growth, providing opportunities for strategic collaborations and enhancing its market presence.
Broader Impact on ITC
Beyond hospitality, ITC Ltd. remains a diversified conglomerate with a strong presence in FMCG, packaging, and paperboards. Its brands, including Aashirvaad, Sunfeast, and Classmate, continue to dominate their respective markets, demonstrating ITC’s leadership across multiple sectors.
The market anticipates ITC Hotels’ stock to be listed on exchanges by mid-February, pending approvals, setting the stage for a significant milestone in the Indian hospitality industry.
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Published on September 14, 2025
Royal Caribbean Group (NYSE: RCL) has announced a significant increase in its shareholder returns, declaring a 33% hike in its quarterly dividend. The company’s Board of Directors approved a dividend of $1.00 per common share, payable on October 13, 2025, to shareholders of record at the close of business on September 25, 2025.
Jason Liberty, President and CEO of Royal Caribbean Group, said the move underscores the company’s confidence in its performance and long-term growth strategy. “Today’s dividend increase reflects both the strength of our performance and our commitment to return capital to shareholders. This increase in dividend, along with our ongoing share repurchase program, highlights our balanced approach to capital allocation, returning value to shareholders while funding future growth,” Liberty stated.
Royal Caribbean Group is a global leader in the vacation industry, operating a fleet of 68 ships across five brands that serve millions of guests annually. Its portfolio includes Royal Caribbean International, Celebrity Cruises, and Silversea, as well as land-based experiences such as Perfect Day at CocoCay and the Royal Beach Club collection. The company also holds a 50% joint venture in TUI Cruises, which manages brands like Mein Schiff and Hapag-Lloyd Cruises.
With a reputation for innovation and guest-focused experiences, Royal Caribbean Group continues to expand its global footprint while maintaining its commitment to responsible and sustainable growth.
Published on August 18, 2025
Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.
ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.
Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.
Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,
"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."
ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.
Published on August 10, 2025
Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.
Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.
Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.
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