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IHCL Announces Strategic Partnership for Over 150 Hotels in India – Image Credit IHCL
Indian Hotels Company (IHCL) has entered a strategic partnership to acquire controlling stakes in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, and signed a distribution agreement with Brij Hospitality Pvt Ltd, expanding its portfolio to over 550 hotels.
Indian Hotels Company (IHCL) announced a strategic partnership involving the acquisition of controlling stakes in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd. Additionally, IHCL has signed a distribution agreement with Brij Hospitality Pvt Ltd. This development increases IHCL’s portfolio to more than 550 hotels.
The partnership includes a portfolio of 135 hotels in the midscale segment operated by ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, spread across 110 locations. These properties are currently under The Clarks Hotels & Resorts brand and will be integrated into IHCL’s brandscape, primarily under the Ginger brand. The integration process is expected to occur over the next few months. The arrangement for these hotels involves management contracts and select operating leases.
Brij Hospitality Pvt Ltd operates 19 hotels in the experiential leisure segment, located in unique destinations across India. This addition aims to expand IHCL’s presence in the boutique leisure market.
The strategic move aligns with IHCL’s “Accelerate 2030” roadmap, which focuses on unlocking India’s tourism potential. This expansion is set to double IHCL’s midscale presence to over 240 hotels, addressing the needs of the growing mid-market segment.
The financial investment for this acquisition will be funded through IHCL’s internal accruals. The primary investment will focus on unlocking value in existing assets and supporting future growth opportunities.
The key managerial personnel from ANK, Pride, and Brij Hospitality will continue to oversee operations, ensuring business continuity and facilitating future growth.
IHCL’s strategic partnership reflects the ongoing demand in India’s hospitality sector, which has seen sustained momentum over the past three fiscal years. The company aims to leverage this demand by expanding its offerings in both the midscale and boutique leisure segments.
