ITC Hotels Set to Expand Portfolio with 70 New Properties in Five Years

ITC Hotels Set to Expand Portfolio with 70 New Properties in Five Years

By Nishang Narayan

Published on April 12, 2024

ITC Hotels is embarking on an ambitious journey to enhance its presence in the hospitality sector by adding 70 new properties to its portfolio over the next five years. With the current count standing at 130 hotels, the divisional chief executive, Anil Chadha, aims to elevate this number to 200, positioning ITC Hotels as a dominant player in the industry. This strategic expansion plan will introduce properties across various brands under the ITC umbrella, catering to the burgeoning demand for both business and leisure travel experiences across India.

Speaking with ET, Anil Chadha highlighted the company's robust growth trajectory, emphasising the goal to increase its inventory to more than 18,000 keys within the stipulated time frame, compared to the current count of approximately 12,000 keys. He also revealed ITC Hotels' international debut with the upcoming launch of the 352-keys ITC Ratnadipa in Colombo, featuring the city's most spacious rooms, set to open later this month.

Over the past two years, ITC Hotels has successfully launched 25 hotels nationwide, consolidating its presence in the luxury market across major metros. Now, the focus is on expanding into tier two and tier three markets, capitalising on the rising trend of experiential travel. With a pipeline of 40 properties spanning brands such as ITC Hotels, Mementos, Welcomhotels, Storii, Fortune, and Welcomheritage, ITC Hotels aims to offer diverse and immersive guest experiences tailored to each destination.

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An upcoming offering, Club ITC Master Key, will provide guests with an integrated and immersive experience throughout their stay, featuring activities ranging from culinary adventures to outdoor excursions. This initiative underscores ITC Hotels' commitment to creating memorable experiences for guests, with special benefits available to loyalty program members.

In addition to its expansion plans in India, ITC Hotels is set to launch its 'ultra luxury' property in Sri Lanka, boasting luxurious accommodations, extensive banqueting facilities, and a myriad of dining options, including acclaimed restaurants such as Peshawri, Yi Jing, and Avartana. The hotel will also house Kaya Kalp - The Royal Spa, offering guests unparalleled relaxation and rejuvenation experiences.

As part of its ongoing expansion efforts, ITC Hotels will introduce new properties across various destinations, including Welcomhotels in Belagavi, Jabalpur, and Gangtok, a Mementos hotel in Jaipur, and Storii hotels in Kolkata, Sirmour, and Prayagraj. With its diverse portfolio catering to different segments of the market, ITC Hotels remains committed to delivering exceptional hospitality experiences across India and beyond.

Image Courtesy: Hotelierindia


Hyatt Hotels to Sell Playa’s Real Estate Portfolio for $2 Billion

Hyatt Hotels to Sell Playa’s Real Estate Portfolio for $2 Billion

By Nishang Narayan

Published on July 5, 2025

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.

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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 Earns Green Key Certification

Novotel Visakhapatnam Varun Beach Earns Green Key Certification

By Nishang Narayan

Published on July 5, 2025

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.”

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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.


IHCL to Open New Vivanta in Anjuna, Strengthening Goa Portfolio

IHCL to Open New Vivanta in Anjuna, Strengthening Goa Portfolio

By Nishang Narayan

Published on July 5, 2025

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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