ITC has decided to expand exponentially its Indian operation in next 3 to 4 years. It is known that the Indian hospitality sector is not as developed and shown phenomenal growth prospects. ITC is on its course to establish and develop more than 60 new hotels in India by next four years.
ITC is looking very buoyant and it has already started the construction of some forty (40) hotels in various parts of India. Out of these 40, fifteen hotels are in its advanced stage of construction and may start operating by next 12 months or so. Its is not a surprise that ITC is boastful and confident in declaring that by end of next four years ITC is set to operate new 60 hotels (By year 2014). At present ITC has about 100 hotels operation in over 80 locations in India.
In annual AGM of ITC held in July’10 in its head office in Kolkata, they declared that ITC will invest some Rs 23,000 crores in next 10 years. ITC has an estimate that India will need a minimum of at least fifty thousand hotel rooms in next two to three years. ITC is interest to invest mainly in super luxury hotels and seven star hotels under the flagship of its famous brands like ITC Welcomegroup and WelcomeHeritage. ITC also has Fortune Group of hotels as its budget hotels.
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