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IHCL will add 35-40 properties overseas by 2030
The Morning Standard
|November 28, 2024
THE Indian Hotels Company, Tata group holding company that owns and operates Taj brand of luxury hotels along with seven other brands, is on an aggressive overseas expansion. It will add 35-40 hotels or 10% of the planned 350 new properties overseas by 2030.
Since FY18, the company has more than doubled the number of properties to 350, of which 238 are operational and nearly doubling its revenue from ₹4,000 crore to ₹7,000 crore in FY24. It has turned debt-free and is sitting on a cash of ₹2,000 crore as of FY24 as against a debt pile of ₹3,000 crore in FY17. The company closed FY24 with a net profit of ₹1,259 crore as against a paltry ₹63 crore in FY17.
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FLERE HISTORIER FRA The Morning Standard
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