In an exchange filing, the company said its portfolio stood at 645 hotels as of June 30, comprising 382 operational properties and an industry-leading pipeline of 263 hotels.
During the April-June quarter, IHCL signed 20 hotels, with 17 of them under its growth brands — Gateway, Ginger and Tree of Life. The new signings span emerging destinations such as Bharatpur, Trichy, Sindhudurg, Jawai and Wayanad, while also strengthening its presence in established markets including Mumbai, Goa, Agra and Kolkata.
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The company also crossed a milestone for its flagship Taj brand, which now has a portfolio of 150 hotels after signing three new properties in Dharamshala, Barapani in Meghalaya and Kusur Valley in Maharashtra.
Suma Venkatesh, Executive Vice President – Real Estate & Development at IHCL, said, “With a focus on our growth brands, seventeen of the twenty signings this quarter were across Gateway, Ginger and Tree of Life.”
She added, “Taj reached a milestone of 150 hotel portfolio with three signings this quarter growing its leisure footprint to Dharamshala, Barapani in Meghalaya and Kusur valley in Maharashtra.”
IHCL also opened 11 hotels during the quarter, taking its operational portfolio to more than 380 hotels. Internationally, the company expanded its presence by opening Taj Hessischer Hof in Frankfurt and Taj Bush Lodge in the Greater Kruger, South Africa.
Domestically, the SeleQtions brand added Ayodhayam in Ayodhya and Bandra House in Mumbai, while Gateway expanded to Kandla. Ginger continued its expansion with new hotels in Hyderabad, Agra, Kota, Gadchiroli and Siwan.
Deepika Rao, Executive Vice President – Hotel Openings & New Businesses, said the company continued to strengthen its footprint across brands and markets during the quarter, both in India and overseas.
IHCL said it remains on track to achieve its strategic goal of a 700-hotel portfolio under its Accelerate 2030 roadmap.
Shares of Indian Hotels were trading 1.2% higher at ₹747.15 on Tuesday. The stock has gained just over 1% over the last 12 months.
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