IHCL targets 200 hotels by 2018 end

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To open 83 new properties globally following an asset light and management contract model…

Lobby of the newly launched Vivanta by Taj - Gurgaon, NCR

The Indian Hotels Company Limited (IHCL) plans to open 83 new hotels globally, taking the tally to 200 by the end of 2018. The Indian hotel giant which has 117 operational hotels said it will mainly follow an asset light and management contract model for its future expansion.

“We plan to have 200 hotels by the end of five years globally. As of now we have 117 hotels,” the group’s Managing Director and CEO, Raymond Bickson was quoted as saying by the PTI.

Bickson was speaking on the sidelines of the launch of its 100th hotel in India at Gurgaon. The new 208-room Vivanta by Taj – Gurgaon, NCR is the 26th property launched under the group’s upper upscale brand. On the company’s road map for growth Bickson said, “With growing competition in India if we want to retain our market share and grow our brand presence, we will have to follow the asset light and management contract model. The company will growly nearly 75% through management contract and about 25% through equity.”

The hospitality major currently operates in four categories ranging from the luxury brand Taj, upper upscale brand Vivanta by Taj Hotels and Resorts, upscale/mid-market full service hotel and resorts under the Gateway Hotel brand and economy hotel under the Ginger brand.

 

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