Indian Hotels set to launch 12 new properties this year
This year, Indian Hotels Company will apparently be on a global expansion spree, with the launch of 12 new properties having been planned by the company. The company launched 7 properties in the last financial year.
In connection with the planned expansion move in 2014, Indian Hotels said that the 12 new launches will enhance the company’s global inventory by adding approximately 1,500 rooms. As a result of the addition, the company will have a total of nearly 17,000 rooms across 137 properties.
On a presentation pertaining to the planned expansion, Indian Hotels said that the new hotels which it will launch this year will be launched under its four brands — Taj, Vivanta by Taj, Gateway and Ginger.
The bigwig hotel company also revealed that the launch of the new properties this year will be under different models, such as ownership, joint ventures, and management contracts.
Among the new properties which Indian Hotels is set to launch is a 283-room Taj hotel close to the domestic airport in Mumbai; a 250-room Vivanta by Taj hotel in New Delhi; a 78-room Gateway Resort in the NCR region; a 73-room Ginger at Vaishno Devi; and a 45-room Ginger at Madgaon, Goa.
In addition, Indian Hotels will also launch a 52-room Gateway at Corbet, Uttarakhand; a 150-room Gateway at Hinjewadi, Pune; and a 296-room ‘Taj Downtown’ luxury property in Dubai.
Source – Business Standard
12 new properties Indian Hotels Company is set to launch this year, 1500 No. of rooms that the 12 new properties will add to Indian Hotels Company worldwide, 17000 Total number of rooms that IHC has across 137 properties globally, 250-room Vivanta by Taj hotel in New Delhi, 283-room Taj hotel near the domestic airport, an increase of 113% over Rs 277 cr posted in the previous year, new launch properties in 2014, Rs 4252 cr Total consolidated debt of the firm, Rs 591 cr Loss that IHCL recorded in 2013-14, Taj hotel near the domestic airport
