ITC Hotels Expands Luxurious Footprint at Yashobhoomi

ITC Hotels Ltd has secured a lease for a plot in Yashobhoomi, Dwarka, to develop a premium five-star hotel. The land, covering around 3,648 square meters, has been leased for 91 years for Rs 326.50 crore. The new hotel aims to enhance Yashobhoomi's status as a MICE industry hub.

ITC Hotels Ltd announced on Friday it has secured a long-term lease for land at Yashobhoomi, Dwarka, with plans to develop a luxury five-star hotel. This property will feature state-of-the-art banquet facilities and signature cuisine.

The plot, covering approximately 3,648 square meters, has been leased for a total duration of 91 years, with ITC committed to paying a lease premium of Rs 326.50 crore. The development aims to augment Yashobhoomi's reputation as a major venue for meetings, incentives, conferences, and exhibitions (MICE).

Anil Chadha, Managing Director of ITC Hotels, emphasized Yashobhoomi's potential to revolutionize the MICE sector. The anticipated hotel will bolster the company's existing presence in the Delhi-NCR region, where ITC Hotels already operates 10 properties with 1,599 rooms.

(With inputs from agencies.)