Indian Hotels to double in size
Indian Hotels Company (IHCL) has unveiled a plan to double in scale in just six years, with its new Accelerate 2030 strategy.
Under the plan, the group expects to expands its hotel brands and launch into new segments of the hospitality landscape. It will continue to delight guests by building on its legacy of service excellence. Financially, it has committed to industry-leading margins and returns, with a target of a 20% return on capital employed, from a doubled revenue volume.
These results will be derived from a portfolio of hotels that will need to double in size, to more than 700 properties around the globe.
Puneet Chhatwal, the managing director and CEO of IHCL, will lead the change. He commented: “IHCL has surpassed its guidance by achieving a portfolio of 350 hotels, with over 200 hotels in operation and delivered ten consecutive quarters of record financial performance. This strong performance, coupled with a robust balance sheet, positions us well to accelerate our growth momentum.”