Future bright as India's consumption boosts travel

Room for more

- SWARAJ BAGGONKAR

HOSPITALITY MAJOR INDIAN Hotels (IHCL) will pump nearly ₹6,000 crore over five years into expansion activities, including a potential acquisition of a chain of boutique hotels.

Virtually addressing shareholders at the 124th annual general meeting (AGM), N Chandrasekaran, chairman, IHCL, said: "Considering a capital expenditure of ₹1,200 crore every year, we are looking at almost $1 billion for the next five years."

From a portfolio of 350 hotels, including over 232 operational properties across multiple brands, the Mumbai-based company aims to have 700 hotels, including 500 operational hotels by the end of FY30.