Indian Hotels Company (IHCL) has announced a strategic partnership with CG Hospitality to expand its portfolio in the Indian subcontinent, with a goal to reach 25 hotels by 2025. The investment required for this expansion is estimated to be around Rs 4,000 crore. The portfolio of 25 properties will include 11 operating hotels with 900 rooms and another 14 hotels that will be added under the "Ekyam" platform. The "Ekyam" platform will explore opportunities in destinations that offer adventure experiences across the Indian Ocean and Greater Himalayan regions, as well as wildlife escapes. The Vice President of Commercials of IHCL, Ram Maheshwari, will lead the "Ekyam" platform.
IHCL's Managing Director and Chief Executive Officer, Puneet Chhatwal, said that the company has a long-standing association with CG Hospitality, a member of CG Corp Global for over two decades. He added that he is delighted to announce that the next phase of this partnership will pursue accelerated growth in the Indian subcontinent. The total investment for this portfolio of 25 properties with 2,500 rooms under the Ekyam platform is estimated to be around Rs 4,000 crore.
The current operating footprint in the Indian sub-continent and Middle East includes Taj Exotica Resort & Spa, Taj Coral Reef Resort & Spa in Maldives, Taj Samudra, Colombo, Sri Lanka, Taj Jumeirah Lakes Towers, Dubai and Taj Safaris, the wildlife luxury lodges in India and Nepal.
CG Hospitality MD Rahul Chaudhary said that the platform will commence with the current portfolio of 11 operating hotels. He added that they have invested over Rs 1,250 crore in the operational and upcoming hotels thus far and are committed to onboarding 14 more hotels under this partnership. Opportunities under this portfolio are immense and CG Hospitality is proud of the partnership with Tata Group's IHCL, spanning 25 years, said Binod Chaudhary, Chairman, CG Corp Global.
(With inputs from PTI)