NEW DELHI (INDIA): Tata group hospitality arm Indian Hotels Company Ltd plans to open seven hotels in the next two years as part of its expansion plans going forward.
Altogether, the new properties to be opened by the company will add 581 rooms to its inventory, IHCL said in an investor presentation.
As on March 31, 2017 Taj Group had 134 hotels with 16,675 rooms.
Out of the seven new properties, hotels at Rishikesh, Shimla and Tirupati will be under the Taj Hotels Palaces Resorts and Safaris brand and will follow management contract model, it said.
IHCL said it will also open a property under the brand at Andamans which will be owned by the company.
Aurangabad and Lucknow are among other locations, where the company plans to open properties under the Ginger brand through its arm Roots Corporation.
In Surat, the company also plans to open a new Ginger property through management contract.
In 2017, the company has opened four Ginger hotels with two at Ahmedabad and one each at Mumbai and Gurgaon adding 299 rooms.
Shares of Indian Hotels Company Ltd today closed at Rs 118 per scrip on BSE, up 2.48 per cent from its previous close.
Source: Press Trust of India