IHCL Rises as It Signs 20 Hotels, Opens 11 in Q1

IHCL shares hit a day’s high of Rs 752.80 on NSE after the Tata Group hotelier signed 20 new deals and opened 11 hotels in Q1.

Here is what that adds up to. IHCL total portfolio, counting both running hotels and ones yet to open, stood at 645 as of 30 June.

Of these, 382 are already operational, and another 263 are in the pipeline waiting to open. The company has been steadily building toward this scale for a while now.

Most of the fresh signings, 17 out of 20, came under IHCL’s growth brands, Gateway, Ginger and Tree of Life.

These new hotels are coming up in places like Bharatpur, Trichy, Sindhudurg, Jawai and Wayanad, alongside bigger markets such as Mumbai, Goa, Agra and Kolkata.

The company’s flagship Taj brand also crossed a milestone this quarter, reaching 150 hotels after adding new properties in Dharamshala, Meghalaya’s Barapani and Maharashtra’s Kusur Valley.

On the openings side, IHCL added 11 hotels in the quarter, taking its operating count past 380. Two of these came from overseas, in Frankfurt and South Africa’s Greater Kruger region.

The company said it remains on track to hit its target of 700 hotels under its Accelerate 2030 plan.

The shares of IHCL closed at Rs 745.95 on NSE, up 1.06%, or Rs 7.80, from the previous close of Rs 738.15. It touched a 52 week high of Rs 811.95 back in August last year.

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