India's Hospitality Boom: ITC Hotels Eyes 220 Hotels by 2030

ITC Hotels Chairman Sanjiv Puri announced plans for the firm to operate 220 hotels by 2030, highlighting India's robust hospitality industry growth. Key drivers include rising incomes, urbanization, and technological advances. The sector's vast potential is underscored by significant economic contributions and employment opportunities.

ITC Hotels is set to expand its portfolio to include 220 hotels by 2030, as revealed by Chairman Sanjiv Puri during the company's first AGM following its listing on the stock exchanges. This expansion aligns with India's burgeoning hospitality industry, bolstered by economic growth, urbanization, and technological advancements.

India's hospitality sector shows immense potential, with only 0.3 rooms per thousand population compared to the global average of 2.2. Key factors such as rising societal aspirations, increased connectivity, and proactive policy interventions are further spurring industry growth. The industry's growth is expected to benefit from India's cultural heritage and expanding infrastructure.

The financial performance of ITC Hotels remains strong, with a reported total income exceeding Rs 3,300 crore and EBITDA margins at 36%. The travel and tourism sector significantly contributes to India's GDP, with reports indicating its potential to support over 100 million jobs by 2030.

(With inputs from agencies.)