ITC looks to expand its hotel network in neighbouring countries
This investment comes on the back of Rs 4000 crore investment in setting up new food processing facilities and augmenting existing units.
Diversified conglomerate ITC Ltd is looking to expand its footprints in hotel segment in the adjacent countries to India and its Nepal subsidiary, Surya Nepal, is exploring some opportunities, an official said on Tuesday. "The Nepal subsidiary is looking at some opportunities. We can look at countries adjacent to India... Ideally these would be countries where ITC has a brand value and there is a tourist inflow from India," company`s Chairman and Managing Director Sanjiv Puri said after the inauguration of its super premium luxury hotel ITC Royal Bengal.
According to him, the group would focus more on managed properties as it is looking more on leveraging its experience in helping others manage their hotel properties.
The WelcomHotel brand is re-launched to focus more on managed properties, Puri said adding that 13-14 hotels are expected under the brand over the next few years.
Asked about its Colombo project in Sri Lanka, he said the hotel is expected to go on-stream by the end of next fiscal and there is no change in timeline in view of the recent disturbances.
Built with an investment of Rs 1,400 crore, the 456 keys ITC Royal Bengal, adjacent to its ITC Sonar in the eastern metropolis is one of the largest properties for the company.
Nakul Anand, Executive Director, ITC Ltd said, "The addition of ITC Royal Bengal to our luxury Ahotel portfolio further strengthens our presence in Eastern India. Bengal is aRoyal` in a unique way - it has celebrated the royalty of the intellect through the centuries, where literature, poetry, painting, Asculpture, theatre, cinema, science, have not only blossomed, but are inherent to the fabric of Bengal."
According to Puri, the group has lined up Rs 1,700 crore of additional investments in the state for setting up a personal care manufacturing facility and for capacity and technical upgrade of existing units. "We are optimistic about West Bengal", he said.
This investment comes on the back of Rs 4000 crore investment in setting up new food processing facilities and augmenting existing units.
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