IHCL Plans to Double Hotel Portfolio by 2030

Indian Hotels Company Limited (IHCL) has launched its 'Accelerate 2030' strategy, aiming to double its hotel portfolio to over 700 properties and increase consolidated revenue to ₹15,000 crore by 2030. Currently operating 350 hotels with 232 functional, IHCL's expansion will include a diverse range of brands such as Taj, Ginger, and Vivanta, along with plans for branded residences. The company's strong recent performance, marked by a tripling of net profit and a 28% rise in revenue, is attributed to robust domestic demand and strategic investments. CEO Puneet Chhatwal highlighted favorable economic conditions, including projected GDP growth and government infrastructure spending, as key drivers for this growth. The strategy also anticipates generating 20% returns on capital employed and maintaining a net cash positive status. Shares of IHCL rose over 3% following the announcement, reflecting positive market sentiment.