Indian Hotels adds two new brands
Indian Hotels (IHCL) has reported its tenth consecutive quarter of record performance, with revenues up 28% year on year with an ebitda margin up to 29.9%. Its revpar, a key measure of performance at the hotel level, was up 10% internationally, with occupancy of 75%.
The company also kept up its expansion momentum, adding two new brands to its portfolio, and signing 42 new hotels during the quarter. It acquired a majority shareholding in the company behind the Tree of Life brand, as well as taking on management of a Claridges branded hotel in Delhi.
Out of the 42 new hotels signed, 12 will launch under the Taj brand, with 10 new Ginger hotels and 9 added to the Gateway portfolio. In addition, during the same period the company opened 14 hotels, taking its total operating portfolio to 232 hotels. The new hotels launched include a Taj in Patna, a Gateway in Bekal and a Vivanta in Jamshedpur.
Outside India, the pipeline includes the Taj at Deira Creek, a 200 room hotel due to open in early 2025 in Dubai. In Bahrain, two properties are in planning, with a likely 2027 opening: the Taj Resort Hamala, with 251 rooms, and the Taj Resort Seef, in Manama. And in Saudi Arabia, the 340 room Taj Makkah will open later in 2025.