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ITC Hotels
Indian hotel chain From Wikipedia, the free encyclopedia
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ITC Hotels is an Indian hospitality company that operates and manages hotels. It has over 100 hotels and is India's third largest hotel chain. It has a franchise agreement to operate most of its hotels as part of The Luxury Collection of Marriott International.
ITC Hotels was a subsidiary of ITC Limited until its demerger in 2025.[3]
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History
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The India Tobacco Company entered the hotel business on 18 October 1975, with the opening of the Chola Hotel in Chennai.[4] In 1979, as ITC's Welcomgroup hotel chain grew, it partnered with Sheraton Hotels to brand many of their properties as Sheratons.[5]
ITC Hotels has hosted many visiting royalty and world leaders, including George W. Bush, Vladimir Putin, Barack Obama[6][7][8] and Donald Trump.[9]
The hotel chain works on a philosophy of "Responsible Luxury"[10] and each hotel in the chain has a LEED (Leadership in Energy and Environmental Design) Platinum rating.[11]
Originally incorporated as Rama Hotels Pvt Ltd in 1972[12] and renamed Vishwarama Hotels in 1973, the Vazir Sultan Tobacco Co Ltd. (VST Industries) bought Vishwarama Hotels in 1980–1981 and soon after, in 1982, the first luxury hotel for the new chain opened in Bangalore.
In 1984, ITC Ltd. bought the entire equity capital from VST. In 1985, the Indian government awarded the hotel that would later become the ITC Gardenia a five-star rating.[13] The company name was changed to ITC Hotels in 1986.[14]
In an effort to unlock value and focus on core competencies, ITC Limited decided to demerge its hotel business into a separate entity in 2023. The board of ITC Limited granted in-principle approval for the demerger.[15] Sanjiv Puri, the CMD of ITC, elaborated that the move is part of a broader strategy for capital raising and debt expansion.[16][17][18]
On 1 January 2025, the ITC Hotels demerger officially came into effect. Shareholders of ITC were allotted one share of ITC Hotels for every 10 shares of the parent company.[19][20][21]
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Brands
The group today operates under several distinct brands:[citation needed]
- ITC Hotels, which has 17 hotels
- Mementos, which has 2 hotels
- Welcomhotel by ITC Hotels, which has 25 hotels
- Storii By ITC Hotels, which has 6 hotels
- Fortune Hotels, which has 53 hotels
- WelcomHeritage, which has 3 hotels
References
External links
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