IHCL and Ambuja Neotia Group Expand Luxury Hotel Portfolio with 15 New Sites Across East and North East.

Indian Hotels Company (IHCL) and Ambuja Neotia Group have signed an agreement for 15 new hotels across IHCL's brands. The partnership will grow to over 40 hotels and extend IHCL's luxury itinerary to the East and North East regions. The projects will come on stream over the next five years, with four hotel operating agreements for Taj and SeleQtions hotels in Darjeeling, Kolkata, and Siliguri.

In a significant move to bolster its luxury hospitality offerings, Indian Hotels Company (IHCL) has signed an agreement with the Ambuja Neotia Group to develop 15 new hotels across various IHCL brands. This strategic partnership aims to extend IHCL's luxury itinerary to the East and North East regions of India, growing the collaboration to over 40 hotels [1].

The agreement, signed by IHCL Managing Director and CEO Puneet Chhatwal, marks a significant milestone in IHCL's legacy of building destinations. The new projects will include a mix of greenfield, brownfield, and conversion sites located in Himachal Pradesh, West Bengal, and Sikkim. The initial phase will see four hotel operating agreements for Taj and SeleQtions properties in Darjeeling, Kolkata, and Siliguri [2].

Notably, the projects will feature a Taj resort in Sunderban, a SeleQtions hotel in Siliguri, and a Tree of Life property in Lataguri. Additionally, some projects will include Taj-branded villas in Sikkim, Darjeeling, Lataguri, and Raichak. The expansion is expected to come on stream over the next five years, reflecting the growing demand for luxury travel in the region.

The partnership is a continuation of IHCL's successful collaboration with the Ambuja Neotia Group, which has already seen the development of the Tree of Life brand. Ambuja Neotia Group Chairman Harshavardhan Neotia expressed his optimism about the expansion, noting that it reflects the strength and success of their ongoing collaboration [1].

IHCL's portfolio, which includes over 400 hotels and 152 under pipeline, spans four continents and 14 countries. This latest agreement further solidifies IHCL's position as India's largest hospitality company by market capitalization. The company is listed on the BSE and NSE, providing investors with a robust platform for growth.

References:
[1] https://www.hospitalitynet.org/news/4128252.html
[2] https://finance.yahoo.com/news/ihcl-signs-agreement-ambuja-neotia-091606344.html