Indian Hotels Company Limited (IHCL), one of India’s largest hospitality company, announced today that it added 85 new hotel signings and opened 40 properties in 2024, expanding its total portfolio to 360 hotels. The company now has 123 hotels in its development pipeline.
The shares of Indian Hotels Company Limited (IHCL) were trading at ₹823.05, down by ₹11.85 or 1.42 per cent on the NSE today at 1.45 pm.
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The luxury Taj brand led the expansion with 19 new signings, bringing its total to 125 properties. IHCL also strengthened its market position through strategic moves, including acquiring a majority stake in the Tree of Life brand and securing a brand license agreement for The Claridges in New Delhi.
Executive Vice President Suma Venkatesh reported that 75 per cent of the year’s signings followed a capital-light model, aligning with the company’s Accelerate 2030 strategy. The growth spanned across metros, pilgrimage sites, and leisure destinations in India and international markets.
Notable openings in 2024 included a Taj resort in Puri with 90 rooms, a SeleQtions property in Tirupati with 118 keys, and new properties in Munnar, Mahabaleshwar, Jaisalmer, Goa, and Gangtok. The company also expanded its airport presence with a new Taj hotel at Cochin International Airport.
The budget-friendly Ginger brand contributed significantly to the expansion, launching 10 new hotels during the year. IHCL aims to reach a portfolio of 700 hotels under its Accelerate 2030 strategy.