Indian Hotels Eyes Adding 1,900 New Rooms In FY20

The Indian Hotels Company Ltd, the owner of the iconic Taj hotel, has inked contracts for managing 22 new properties in the previous financial year.

By signing these new contracts, the Tata Group’s hotel arm will be adding 1,900 rooms to its existing capacity by FY20. Out of these, 900 rooms will be added under its luxury brand Taj; 500 under SeleQtions, its newly launched ‘distinct hotel category’; and 500 additional rooms would come under its budget segment Ginger.

Puneet Chhatwal, Managing Director of Indian Hotels Company, said, “We expect to open 1,900 rooms in FY20 out of which 75 percent will be in the premium category. The share of management contract rooms in the company’s portfolio has gone from 32 percent to 40 percent in FY19.”

The company looks to launch one hotel every month till March 2020. It said that the current fiscal has been positive so far with the sign up of four more properties.

“Indian Hotels will continue with its strategy of monetising assets backed by strong fundamentals. The company has monetised two assets in its subsidiary Oriental Hotels in Vishakapatnam and Trivandrum. We will continue doing this in secondary and tertiary markets,” Chhatwal further added.