ITC Hotels Demerger Could Lead to Passive Outflow of USD 180 Million: Nuvama

ITC Hotels Demerger Could Lead to Passive Outflow of USD 180 Million: Nuvama

By Nishang Narayan

Published on January 8, 2025

Following the demerger of ITC Hotels from its parent company, ITC Ltd., domestic brokerage firm Nuvama has predicted a passive outflow of approximately USD 180 million. This corporate action will have a notable impact on major indices such as Nifty50 and Sensex, with expected passive outflows of USD 110 million and USD 70 million, respectively.

Nuvama's analysis suggests that assuming ITC’s share price remains stable around INR 260 at the time of exclusion, the passive flow for Nifty50 will amount to USD 110 million (with a weight of 23 basis points), while Sensex will experience an outflow of USD 70 million (with a weight of 28 basis points).

A special price discovery session was held to adjust ITC’s share price, resulting in an INR 26 adjustment on NSE and INR 27 on BSE as the stock began trading ex-demerger on January 6. The demerger ratio of 1:10 (one share of ITC Hotels for every 10 shares of ITC Ltd.) has led to the valuation of ITC Hotels at approximately INR 260 on the Nifty50 indices and INR 270 on BSE indices.

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Until ITC Hotels is officially listed separately, it will be treated as a "dummy entity" with a fixed price, and the stock will be held at this value temporarily. According to Nuvama, ITC Hotels is expected to be listed within the next 30-40 days. Following the listing, ITC Hotels will be removed from all NSE and BSE indices at its last traded price, effective at the opening on the listing date, with a three-day adjustment period. If the stock hits circuit limits, the exclusion will be postponed by two trading days for each occurrence.

Nuvama also noted that ITC Hotels may qualify for inclusion in the MSCI Global Small Cap Indexes, but this will only happen if the stock is listed within 20 working days after the record date of the demerger.


Sayaji Hotels Launches Enrise by Sayaji in Gandhidham, Strengthening Gujarat Presence

Sayaji Hotels Launches Enrise by Sayaji in Gandhidham, Strengthening Gujarat Presence

By Hariharan U

Published on November 6, 2026

Sayaji Hotels has expanded its presence in Gujarat with the launch of Enrise by Sayaji in Gandhidham, adding a new hospitality property to its portfolio in the commercial hub of the Kutch region. The hotel is positioned to serve business travellers, transit guests and visitors exploring the destination.

Gandhidham's proximity to Deendayal Port (Kandla) and its established trade and logistics network make it an important centre for commercial activity in the region. The city's business ecosystem also creates demand for accommodation and meeting facilities for professionals and enterprises operating across Kutch.

Enrise by Sayaji features 39 rooms and suites across three categories: Deluxe, Premium Deluxe and Suites. With room sizes ranging from 300 to 600 sq. ft., the property offers accommodation options for different guest requirements.

The hotel's dining offering is anchored by Momentt, a 60-cover multi-cuisine restaurant providing an in-house dining space for guests.

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For corporate meetings, business gatherings and social occasions, the property has three venues: Jewel, Crystal and Solitaire. The spaces offer flexible configurations for different event requirements, adding to the hotel's offering for business and social events in Gandhidham.

Speaking on the launch, Sumera Dhanani, Corporate Head – Business Development, Sayaji Hotels Ltd, said, “Gandhidham presents an exciting opportunity for Sayaji Hotels as we continue to build our presence in key markets across India. With its strong commercial ecosystem and strategic location in Kutch, the city aligns well with our expansion plans. Enrise by Sayaji marks another milestone in bringing our brand to a wider audience.”

Lalit Nawani, Director, Hardik Hotels Pvt Ltd, added, “We envisioned Enrise by Sayaji as a space that brings together thoughtful design, good food and functional spaces for business and social gatherings. Every element has been planned to meet the needs of today’s traveller while reflecting the character of Gandhidham. We are excited to introduce the property to the city.”

The launch adds another property to Sayaji Hotels' Gujarat portfolio, extending its hospitality offering into a commercial market with demand from business and transit travellers.

About Sayaji Hotels Ltd

Sayaji Hotels follows its 'Yours Truly' service philosophy and has a hospitality portfolio spanning business and leisure destinations across India. According to the company, its portfolio comprises 43 properties, including Enrise by Sayaji in Gandhidham, with a combined inventory of more than 2,700 keys.

With a presence spanning over four decades, the group focuses on contemporary design and personalised guest service. It has also been recognised as a Great Place to Work® in India.

Property Details

  • Hotel: Enrise by Sayaji

  • Location: Gandhidham, Kutch, Gujarat

  • Rooms: 39

  • Room Categories: Deluxe, Premium Deluxe and Suites

  • Restaurant: Momentt – 60 covers

  • Event Venues: Jewel, Crystal and Solitaire


Cygnett Hotels & Resorts Targets Over 10,000 Keys by 2031

Cygnett Hotels & Resorts Targets Over 10,000 Keys by 2031

By Manu Vardhan Kannan

Published on November 6, 2026

Cygnett Hotels & Resorts has announced its strategic roadmap for 2027–2028, focusing on hotel expansion, profitability and operational excellence across India and South Asia. The announcement was made during THRIVE 2026, the group's 9th Annual General Managers' Conclave, held on October 29–30 at Cygnett Collection, Gurugram. The company is also marking 12 years of operations in the hospitality industry.

Cygnett currently has a development pipeline of 55 hotels and resorts, comprising approximately 3,750 keys. Building on its presence across business, leisure and pilgrimage destinations, the group aims to grow its portfolio to more than 10,000 keys by 2031. Its expansion plans include new hotel openings, brand diversification and entry into high-potential markets.

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The group's strategic alliance with Wyndham Hotels & Resorts is expected to support this growth by strengthening its international reach, global distribution capabilities and brand portfolio. The collaboration combines Cygnett's understanding of regional hospitality markets with Wyndham's international network and brand platforms, supporting expansion across India and South Asia.

Alongside portfolio growth, the company is placing greater focus on hotel performance and profitability. Its 2027–2028 roadmap identifies revenue per available room (RevPAR), gross operating profit (GOP), market share, cost efficiency and owner returns as key priorities. Cygnett also plans to use artificial intelligence, automation, digitalisation and data analytics to improve revenue management and operational decision-making.

Commenting on the company's growth journey, Sarbendra Sarkar, Founder & Managing Director, Cygnett Hotels & Resorts, said, "When we started Cygnett twelve years ago, our vision was to build an Indian hospitality company capable of growing across emerging markets while delivering consistent service and strong value to hotel owners. Over the years, we have expanded our presence, diversified our brands and established a foundation for long-term growth. Our next chapter is about translating that scale into stronger performance, profitability and global competitiveness. With 55 hotels and resorts in our development pipeline and our strategic alliance with Wyndham Hotels & Resorts, we are moving confidently towards our ambition of exceeding 10,000 keys by 2031."

Held under the theme "From Evolution to Excellence – Building Cygnett 2027–2028," THRIVE 2026 also focuses on leadership development and guest experience. The conclave brings together general managers and corporate leadership to strengthen accountability, develop future-ready leaders and align hotel operations with the group's growth plans.

Cygnett will continue to reinforce its service philosophy through the Cygnetture Experience, Namaskar Culture and Emotional Unlimited Hospitality. These initiatives aim to maintain consistent guest experiences as the hotel portfolio grows.

The company sees opportunities in India's hospitality sector, supported by rising travel demand, infrastructure development, spiritual tourism, destination weddings and increasing corporate mobility. With its next phase focused on both expansion and operational performance, Cygnett aims to build a globally competitive Indian hospitality platform while delivering sustainable returns for hotel owners and long-term value for stakeholders.


Sunday PropTech Acquires 89-Room Hotel in Kolkata

Sunday PropTech Acquires 89-Room Hotel in Kolkata

By Manu Vardhan Kannan

Published on November 6, 2026

Sunday PropTech Limited, a PRISM-backed hospitality ownership company, has entered Eastern India with the acquisition of an 89-room hotel in Rajarhat, Kolkata. The property will be operated under Clubhouse, the company's mid-premium hotel brand within the Sunday Collection portfolio.

The company plans to reposition and rebrand the hotel over the coming months as part of its ongoing expansion across India. Located in Rajarhat, a growing business hub, the six-storey property was built in 2017 and features food and beverage facilities and meeting spaces.

The hotel is situated close to Netaji Subhas Chandra Bose International Airport and key commercial destinations, including Ecospace Business Park, Bengal Silicon Valley and Biswa Bangla Convention Centre. Its location makes it suitable for business travellers, corporate guests and visitors to the city.

Sunday PropTech aims to strengthen the property's performance by using PRISM's hospitality brand ecosystem, technology platform, distribution network and centralised revenue management capabilities. The move is part of its strategy to invest in well-located hospitality assets with long-term growth potential while improving positioning and guest experience.

Kolkata is an important market in the company's expansion plans, supported by growing commercial activity and the development of IT and business infrastructure. Sunday PropTech is also evaluating further hotel investment opportunities across West Bengal.

Commenting on the acquisition, Saurav Agarwal, Board Member, Sunday PropTech, said, “We thank the Government of West Bengal for their support and facilitation. This acquisition reflects our confidence in the state's hospitality and tourism potential and our commitment to contributing to its growing hospitality ecosystem. We look forward to building on this milestone as we continue to expand our hotel portfolio across West Bengal.”

Sunday PropTech has been expanding its premium and mid-premium hospitality portfolio in India and international markets. The company recently acquired eight premium serviced-apartment hotels with a combined value of approximately ₹800 crore. These properties will operate under PRISM's hospitality brand ecosystem, including Sunday Hotels, Belvilla and other suitable brands, supported by its technology and distribution capabilities.

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