Indian Hotels Company (IHCL) has announced a strategic alliance with CG Hospitality, with the aim of expanding its portfolio within the Indian sub-continent. Their ambitious plan entails reaching a total of 25 hotels by the year 2025, with an estimated investment of approximately INR 4,000 crore.
Managing Director and Chief Executive Officer of IHCL, Puneet Chhatwal, outlined that this portfolio expansion will comprise 11 operational hotels with 900 rooms, along with the addition of 14 properties under the unified platform named ‘Ekyam’. These endeavors are geared towards exploring opportunities in regions offering adventurous experiences such as the Indian Ocean and Greater Himalayan areas, as well as wildlife retreats.
Ram Maheshwari, IHCL’s Vice President Commercial, will spearhead the ‘Ekyam’ platform, he further added.
“For over two decades, we have maintained a strong partnership with CG Hospitality, a distinguished member of the renowned CG Corp Global. We are thrilled to announce that the next phase of this collaboration will focus on accelerating growth within the Indian sub-continent.”
Continue Exploring: Hotel giants bet big on India: Radisson, Marriott, Hilton, IHG, and Wyndham compete in intense race for expansion
Chhatwal expressed, “This collaboration, operating under the banner of Ekyam, will delve into managing hotels across regions encompassing the Himalayas, Indian Ocean, and bolstering the wildlife sector.”
He further mentioned that the total investment for this portfolio of 25 properties, comprising 2,500 rooms under the Ekyam platform, could approach approximately INR 4,000 crore.
Taj Exotica Resort & Spa, Taj Coral Reef Resort & Spa in the Maldives, Taj Samudra, Colombo, Sri Lanka, Taj Jumeirah Lakes Towers in Dubai, and Taj Safaris, India and Nepal’s wildlife luxury lodges, are among the company’s current operations in the Indian subcontinent and Middle East.
“The platform will begin with the existing portfolio of 11 operational hotels. We have already invested over INR 1,250 crore in both the operational and forthcoming hotels, and we are dedicated to incorporating 14 additional hotels through this partnership,” stated Rahul Chaudhary, Managing Director of CG Hospitality.
Binod Chaudhary, Chairman of CG Corp Global, emphasized the vast opportunities within this portfolio and expressed pride in CG Hospitality’s enduring 25-year partnership with Tata Group’s IHCL.
Continue Exploring: IHCL aims for double-digit growth, eyes international expansion in FY25
