South-based hotel deal next week will take Ginger count to over 250

Indian Hotels Company on Monday signed agreements to acquire controlling stake in ANK Hotels and Pride Hospitality, adding 135 properties to its portfolio, taking the total to 554 hotels under various brands.

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The new properties will be rebranded as Ginger hotels.

IHCL managing director and chief executive officer Vineet Chhatwal tells Pinder Gill about the expansion plan for Ginger and the way ahead for the industry amid this wave of consolidation. Excerpts:

You have said Ginger will be the growth driver for IHCL, giving 10% revenues by this fiscal. With this buy it will be a 241-hotel brand. By 2030, how big will the brand be, and what share of revenue do you expect from it?

By the coming Monday we will add 10 more hotels, crossing 250 properties under Ginger. We are entering into a partnership with a south-based brand for 10 more properties. ANK, Pride and Brij are largely north-based brands.