**ITC Hotels Plans Major Expansion Following Demerger**
New Delhi, Jan 29 (PTI) – ITC Hotels, the newly formed entity following the demerger of ITC Ltd’s hotel business, made its stock market debut on Wednesday and announced ambitious plans to grow its portfolio to over 200 hotels within the next five years. Currently, ITC Hotels operates more than 140 properties with over 13,000 keys across 90 locations. The company aims to implement an asset-right strategy to enhance its presence in India and nearby markets.
With a zero-debt balance sheet and cash reserves of ₹1,500 crore to support its growth and contingency plans, ITC Hotels is now publicly traded. ITC Ltd retains a 40% stake in the new entity, while the remaining 60% is held by existing shareholders. This strategic ownership structure is designed to provide long-term value to stakeholders while facilitating independent growth.
During the listing event at the NSE, ITC Hotels Ltd Chairman Sanjiv Puri remarked, “Today marks a significant milestone in ITC’s journey. The listing of ITC Hotels not only signifies a new chapter for our hospitality business but also reinforces our commitment to creating lasting value for all stakeholders. As we embark on this new journey, we are dedicated to setting new global standards in hospitality while remaining committed to sustainability and inclusivity.”
Managing Director Anil Chadha added, “Our goal is to become a global leader in Indian hospitality, driven by our core values of customer focus, high performance, and a strong commitment to sustainability.”
ITC Hotels operates under six brands: ITC Hotels and Mementos in the luxury segment, Welcomhotel in the upper upscale category, Storii in the boutique premium experiential segment, Fortune in the midscale market, and WelcomHeritage in heritage leisure. The company plans to expand its portfolio to over 200 hotels with more than 18,000 keys in the next five years, with approximately two-thirds of these being managed properties.
In the past 24 months, ITC Hotels has launched 30 hotels and aims to add at least one hotel per month on average over the next two years. The stock debuted at ₹188 on the BSE and ₹180 on the NSE, later experiencing a decline of 5% to ₹178.60 on the BSE and 3% to ₹172 on the NSE, with a market valuation of ₹39,126.02 crore. The demerger of ITC’s hotel business took effect on January 1, 2025, with January 6 designated as the record date, officially separating ITC Hotels from its parent company.
