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HomeBusinessOn the fast track: ITC Hotels opens 24 properties in 2 years;...

On the fast track: ITC Hotels opens 24 properties in 2 years; to foray abroad

NEW DELHI: Indian hospitality biggie —

ITC Hotels

— is set to have

properties abroad

, after Taj and Oberoi. The chain will be making its international debut with

ITC Ratnadipa

in Colombo. ITC Hotels, which will soon be hived off from the parent company, plans to have

multiple hotels

in destinations near India.
Its “asset right” strategy of having a bigger management portfolio has helped it open 24 properties in the last 24 months.

The two brans launched during Covid — Storii and Mementos — are seeing rapid growth. Jaipur, for instance, will get a second luxury Mementos by the end of this month. While the chain has made significant inroads in the North, it is now increasing its presence in the south. And abroad too.
On Monday ITC Hotels announced the signing of a management agreement with Narne Hotels and Resorts to launch a 150-key Welcomhotel at Madikeri in Kodagu district (formerly Coorg) in Karnataka.
ITC Hotels divisional chief executive Anil Chadha said regarding the latest signing: “Madikeri is an important market for ITC Hotels. Over recent years, this region has grown in popularity and we saw a niche space for leisure travel.… With this signing ITC’s Hotel group further strengthens its presence in Karnataka, where we currently operate 11 hotels and over 1,300 rooms under various brands including ITC Hotels, Welcomhotel, Fortune and Welcomheritage.”