ITC Expands Global Footprint with Hotel Business Ventures

ITC is set to expand its hotel business internationally, starting with neighboring countries and West Asia. The conglomerate has spun off its hotel division into a new entity, which will be listed soon. The expansion strategy includes an asset-light model and a focus on sustainability.

ITC, India's leading consumer goods conglomerate, is poised to expand its hotel business beyond the domestic market. Chairman Sanjiv Puri has announced plans to venture into neighboring countries and West Asia, marking the company's first international expansion.

The hotel's division has been demerged from the parent company and will be listed on stock exchanges in the coming weeks. ITC Hotels aims to increase its portfolio from the current 140 properties in India to over 200 globally, focusing on an asset-light model that emphasizes management contracts over ownership.

Puri highlighted the unique propositions ITC Hotels brings to the market, from its renowned hospitality and culinary offerings to its green credentials. With a strong track record in sustainability, ITC Hotels boasts several net-zero carbon and water properties, appealing to the growing consumer demand for environmentally-conscious choices.

(With inputs from agencies.)