Taj-Parent IHCL’s Portfolio Grows 25% in 2024 – India Report
Photo Credit: La Estoria, Goa - IHCL SeleQtions. IHCL
Skift Take
As international hotel chains set their eyes on India's potential, IHCL is undertaking an aggressive expansion plan, driven by an asset-light model.
Taj-parent Indian Hotels Company (IHCL) had 360 hotels at the end of 2024, up from 285 in 2023: a 25% jump. Last year marked IHCL’s highest openings with 40 hotels opened and 85 signed, according to executive vice president Deepika Rao.
“IHCL launched the re-imagined Gateway, a full-service hotel offering in the upscale segment, acquired majority shareholding in Tree of Life brand holding company, adding a boutique leisure offering and entered into a brand license agreement for The Claridges, commencing with management of brand’s landmark hotel in New Delhi, extending IHCL’s luxury portfolio,” said Suma Venkatesh, executive vice president — real estate & development.
The company’s expansion is driven by an asset light model which accounted for 75% of its signings in 2024.
Brands Leading the Charge: Of the 360 hotels, 125 are under IHCL’s flagship luxury brand Taj, in line with the growing preference for premiumization in India
