The Tata Group hospitality arm Indian Hotels Company Ltd (IHCL) on Saturday said it is confident of opening as many as 45 new hotels by the financial year 2025-26 to have a portfolio of 325 hotels.

“Currently we have a total portfolio of around 280 hotels. We feel that opening more than 45 hotels in the next two to two-and-half years is achievable,” Puneet Chhatwal, Managing Director and CEO of IHCL, said.

“I am confident that the sector will do well in the near-term. I have no doubt why we should not do well on our home turf,” Chhatwal said.

For the hospitality major, Taj, Vivanta and SeleQtions are traditional brands, while amã Stays & Trails, Ginger and Qmin are new-age brands.

Also read: Hyatt to add 50 hotels in next five years

Chhatwal said the company would have a ratio of 50:50 between owned and managed properties under its portfolio by FY26.

Global presence

To expand global portfolio, IHCL has recently signed contracts to open two hotels in Bhutan.

“85-87 per cent of our business will remain in India. We have just signed two contracts in Bhutan, and two in Dhaka. So this fiscal year, we have had almost five signing for international hotels,” the MD said.

IHCL on Saturday announced the opening of Taj Taal Kutir in Kolkata. It is the third property under Taj in the city.

Ambuja Neotia Group has developed the property with 75 rooms and suites at a cost of around ₹160 crore, while the Tata Group hospitality arm will be managing it.

Q2 results

IHCL has reported a ₹1,433.20 crore revenue from operations for the second quarter this fiscal against ₹1,232.61 crore for the same period last fiscal.

“We opened 8 hotels and signed 17 more in the first half of the fiscal thereby maintaining an industry-leading pipeline of 82 hotels. India’s economic momentum coupled with higher consumer spends augurs well for the industry. Business on the books remains strong and the company is well positioned for the traditionally stronger second half of the financial year,” Chhatwal said after announcing the second quarter results.