ITC Hotels on the Rise: Targeting 18,000 Keys in Five Years

ITC Hotels on the Rise: Targeting 18,000 Keys in Five Years

By Author

Published on December 21, 2023

ITC Hotels, a major player in India’s hospitality sector, has unveiled an ambitious plan to significantly expand its room inventory over the next five years. As per the recent report by Business Standard, the conglomerate aims to boost its hotel room count by 50%, targeting a total of 200 hotels with 18,000 keys by 2028.

Currently, ITC Hotels boasts a portfolio of 12,000 rooms across 131 hotels in 80 destinations. This growth trajectory is part of the company's strategic focus, announced during its institutional investors and financial analysts event on December 12.

A noteworthy aspect of this expansion is the emphasis on managed hotels. Two-thirds of the new inventory is expected to fall under the managed portfolio, a significant increase from the current 50%. ITC has a pipeline of 35 managed hotels with over 3,200 keys in the works.

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This expansion also includes a shift in the premium segment of the company’s offerings. Over the next five years, premium hotel keys are projected to comprise 45% of the total managed portfolio, up from the current 30%.

Additionally, ITC is exploring greenfield and brownfield projects to add around 300 rooms. In the past 24 months, the company has opened 22 hotels, capitalizing on the post-pandemic boom in the hospitality sector. With foreign tourist numbers still 85% below pre-pandemic levels, ITC anticipates a significant surge in demand.

The company's hotel segment reported record-high performance in the second quarter of this financial year, with revenues and pre-tax profits witnessing a substantial increase.

Under its Next strategy, ITC is focusing on scaling up and increasing profitability across its business verticals, with plans for innovation, exports, and acquisitions. The hotel brand profile of ITC includes luxury, upper upscale, boutique, mid and upscale, and heritage categories.

Furthermore, a demerger of the ITC Hotels Co. is on the horizon, with the board of directors approving a scheme of arrangement for the demerger of the hotel business. The new entity is expected to be listed within 15 months and will continue to use the ITC brand name.

In addition to hotel expansion, the company is also scaling up its food and beverage business, with new restaurant openings reported by ndtvprofit.com.


"Boho by the Beach" in Goa: 2024's Premier Family Resort with Budget-Friendly Luxury

"Boho by the Beach" in Goa: 2024's Premier Family Resort with Budget-Friendly Luxury

By Nishang Narayan

Published on April 18, 2024

As Goa continues to enchant visitors with its vibrant beaches and lively cultural scene, "Boho by the Beach" is setting a new standard for family accommodations in 2024. Located approximately 800 meters from the tranquil Morjim Beach, this premier family resort combines the laid-back luxury of Goa with the affordability families crave during their vacations.

In the heart of North Goa, known for its bustling activity and scenic beaches, "Boho by the Beach" stands out by offering an affordable yet luxurious experience. Independent research by IBRF highlights a significant trend post-pandemic: 70% of travelers seek budget-friendly beachside accommodations that do not compromise on quality. Responding to this demand, "Boho by the Beach" provides a perfect solution with its beautifully appointed rooms and family-friendly amenities.

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The resort features 12 elegantly designed rooms, each crafted to offer comfort and elegance. Guests can wake up to the soothing sounds of the sea and enjoy facilities like a lush leisure lawn, a rejuvenating swimming pool, and a spa. The resort’s proximity to local markets also offers families a glimpse into the vibrant local life and culture of Goa, enhancing the authenticity of their stay.

Dining at "Boho by the Beach" is an experience in itself, with a menu that caters to both refined palates and health-conscious diners. The resort’s indoor dining option provides a relaxing ambiance perfect for family meals, while the breakfast menu is specially curated to kickstart the day with nutritious and delicious options.

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Moreover, the resort experience is complemented by "The Boho Box," a sports-themed café located by the Baga River in Anjuna. Popular among tourists for its dynamic atmosphere and exquisite cuisine, it adds another layer of enjoyment to the guests’ stay.

Visitors leaving "Boho by the Beach" carry with them not just memories of a relaxing stay but experiences of Goa's rich tapestry of activities, from beach frolics to local crafts like feni distilling and basket weaving. The resort not only promises a captivating retreat but also delivers a holistic Goan experience that makes it worthy of being called Goa's Premier Family Resort of 2024.


Wyndham Hotels & Resorts Expands Significantly in EMEA Region in 2023

Wyndham Hotels & Resorts Expands Significantly in EMEA Region in 2023

By Nishang Narayan

Published on April 18, 2024

In a notable expansion drive during 2023, Wyndham Hotels & Resorts, the world's largest hotel franchisor, marked significant growth milestones across Europe, the Middle East, Eurasia, and Africa (EMEA). The company introduced nine of its brands into new countries, signed 107 franchise agreements, and celebrated the opening of 87 new hotels, adding approximately 9,500 rooms.

Underpinning this expansion is Wyndham's OwnerFirst™ approach, which emphasizes a strong partnership with hotel owners and franchisees, providing them with comprehensive support to ensure their success. This approach has bolstered Wyndham's reputation as a leader in the hospitality industry across the region.

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Dimitris Manikis, President of EMEA at Wyndham Hotels & Resorts, highlighted the strategic growth, "We're incredibly proud of our record growth in 2023 and the trust that owners and franchisees across the region continue to put in Wyndham Hotels & Resorts. The increasing value of partnering with the world’s largest hotel franchisor is evident as more owners join our family."

Noteworthy openings in 2023 included the first-ever Wyndham Grand in Rajasthan, India, and the introduction of the company's first Registry Collection Hotel in Greece. Wyndham also strengthened its presence in Türkiye, a key growth market, by opening 11 new hotels, making it the largest international hotel operator in the country.

Further, the company expanded its Trademark Collection by Wyndham into Malta, Portugal, Türkiye, and Qatar, and debuted brands like Wyndham Grand in Krakow, Dolce by Wyndham in Milan, and Super 8 by Wyndham in the UK. The CIS region saw significant activity with eight new hotel openings, including three brand entries in Uzbekistan.

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The "Wyndham Advantage" continues to play a crucial role in this expansion, offering franchisees world-class marketing, powerful distribution platforms, and innovative technology investments totaling more than $275 million over the past five years. This includes cutting-edge property and revenue management systems and access to the Wyndham Rewards loyalty program, which boasts over 106 million members worldwide.

Wyndham Hotels & Resorts now operates 639 hotels across EMEA, with a robust pipeline of over 150 hotels, as it continues to lead and innovate in the hospitality sector. This strategic expansion not only enhances the company's global footprint but also strengthens its market leadership position, providing exceptional value and service to guests and stakeholders alike.

For more information on franchising opportunities with Wyndham in the EMEA region, visit https://whrdevelopmentemea.com/ 


Accor's 2024 Strategy: Elevating Hospitality with Iconic Brands and Sustainable Practices

Accor's 2024 Strategy: Elevating Hospitality with Iconic Brands and Sustainable Practices

By Nithyakala Neelakandan

Published on April 18, 2024

In 2024, Accor, a global leader in hospitality, is taking bold steps to redefine the guest experience while championing sustainability across its diverse brand portfolio. With over 57 years of expertise, Accor boasts a remarkable array of 45+ hospitality brands, catering to the evolving needs of travelers worldwide. This year, Accor is leveraging its strategic realignment into Luxury & Lifestyle (L&L) and Premium, Midscale & Economy (PM&E) brands to propel its transformative journey in hospitality.

2024 marks significant milestones for Accor, with Sofitel celebrating its 60th anniversary as the pioneering international luxury hotel brand, and ibis marking its 50th anniversary as a globally recognized economy brand. Additionally, the 1000th Mercure hotel is set to open its doors, offering locally inspired accommodations to inquisitive travelers.

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Accor proudly oversees four of the world’s seven centennial global hospitality brands, including Pullman, Orient Express, Raffles, and Fairmont, each embodying resilience and innovation. These brands continue to set new standards in hospitality while preserving their rich legacies. Future endeavors include the introduction of Orient Express Grand Hotel de la Minerve in Italy, promising immersive travel experiences.

Accor remains committed to curating thoughtful stay experiences characterized by kindness and care. Through innovative brand extensions like the Handwritten Collection and branded residences, Accor is pioneering new avenues for authentic guest experiences. Embracing the shift towards remote work, Accor offers unique long-stay accommodations tailored to modern travelers.

With a steadfast commitment to sustainability, Accor is eliminating single-use plastics and measuring carbon emissions across its properties. The company aims to eco-certify all its hotels by 2026, demonstrating its dedication to environmental stewardship and community engagement.

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Looking ahead, Accor is poised to expand its presence in key global destinations, including China, Japan, and India. With numerous hotels and iconic landmarks in the pipeline, Accor promises boundless exploration and unforgettable experiences for its guests.

Accor’s 2024 strategy reflects its unwavering commitment to elevating hospitality standards while embracing sustainability and innovation. Through its diverse brand portfolio and forward-thinking initiatives, Accor continues to shape the future of travel and hospitality, one remarkable experience at a time.

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