ITC Hotels Sets Sights on Expansion Amid Robust Financial Growth

ITC Hotels Ltd reported a 53% increase in its consolidated net profit for the June quarter. The company actively expands with plans to operate 220 hotels by 2030. ITC highlighted growth in room and F&B revenues, despite previous geopolitical challenges, while forecasting a healthy outlook for the hospitality sector in India.

ITC Hotels Ltd announced a significant leap in its consolidated net profit, registering a 53% rise to Rs 133.71 crore for the June quarter, attributed to heightened revenue streams.

The hospitality giant is ambitiously aiming to expand its operational network to 220 hotels, with over 20,000 keys by 2030. Presently, the company boasts 143 operational hotels and a pipeline of 58 new establishments.

Despite prior disruptions due to geopolitical developments, the Indian hospitality sector shows promising growth prospects, driven by domestic demand and strategic government efforts in boosting infrastructure and tourism.

(With inputs from agencies.)