ITC Hotels Aims For 220 Operational Hotels With 20,000 Keys by 2030
ITC Hotels is well poised to script a new chapter with sharp strategic focus, enhanced agility, soulful hospitality and a commitment to long-term value creation — one that aspires to deliver enduring value to all its stakeholders, while reinforcing its position as a leader in responsible luxury.
By SOH Edit Team
At the landmark first Annual General Meeting of ITC Hotels Limited, Sanjiv Puri, Chairman, underscored the company’s position at a transformative juncture for Indian hospitality. As new opportunities unfold across tourism and travel, ITC Hotels stands poised to shape the sector’s future with confidence—anchored in its rich legacy of iconic properties rooted in Indian culture, globally acclaimed cuisine, and service excellence.
Puri reaffirmed the group’s commitment to Responsible Luxury—a philosophy blending world-class guest experiences with sustainability and “compassionate capitalism,” where business growth aligns with social and environmental stewardship.
The Global Context and India’s Momentum
In an era of geopolitical and economic turbulence, Puri highlighted India’s emergence as the fastest-growing major economy—powered by favourable structural drivers: a young demographic profile, rising disposable incomes, rapid urbanisation, technological prowess, and a thriving entrepreneurial spirit.
“The hospitality industry is set for robust growth, fuelled by economic multipliers—rising societal aspirations, India’s growing stature as an investment magnet, stronger connectivity, proactive policy support, and rapid digital adoption,” Puri noted.
A Record Year for ITC Hotels
The fiscal year marked an exceptional performance for ITC Hotels:
- ₹3,300+ crore in total income; EBITDA margin expanded to 36%.
- F&B segment growth driven by innovative culinary offerings, refreshed outlets, and strong MICE and bespoke events performance.
- 30 new management and franchise contracts, building a robust pipeline of 58 hotels (5,300+ keys) on course to surpass the 200-hotel target by 2030.
- Leadership in sustainability with 23 LEED Platinum® certified green properties—the most by any hotel chain worldwide.
- First in the world to secure LEED® Zero Carbon for 12 hotels and LEED® Zero Water for nine hotels.
- Recipient of the 2024 USGBC Leadership Award for Organisational Excellence.
- Luxury properties surpassing 2030 GHG sectoral emission targets for the fifth consecutive year in line with the COP21 Paris Agreement.
Sanjiv Puri, Chairman, ITC Hotels
Hospitality Growth in a Resurgent India
The broader industry landscape is equally promising. In 2024, international visitor spending in India touched ₹3.1 trillion, while domestic travel expenditure surged to ₹15.5 trillion—22% above pre-pandemic levels. Travel and tourism contributed ₹21 trillion (6.6% of GDP), supporting over 46 million jobs. By 2030, the sector could represent 10% of GDP and generate 100 million jobs.
India’s underpenetrated hospitality market—just 0.3 rooms per 1,000 population versus the global average of 2.2—presents vast headroom for expansion. With 44 UNESCO World Heritage Sites, diverse landscapes, and burgeoning niches such as adventure, spiritual, medical, and culinary tourism, the country is well-positioned for growth. The Government’s initiative to develop 50 premier tourist destinations promises to further catalyse demand.
Expanding Horizons
ITC Hotels operates over 140 properties across 90 locations under six brands:
- ITC Hotels (Luxury)
2. Mementos (Luxury Lifestyle)
3. Welcomhotel (Upper Upscale)
4. Storii (Boutique Premium)
5. Fortune (Mid-market to Upscale)
6. WelcomHeritage (Leisure & Heritage)
Its first overseas venture, ITC Ratnadipa in Colombo, marks the group’s ambition to take Indian hospitality global, with expansion into Nepal already underway.
Renowned for hosting Heads of State and dignitaries at global events such as the G20, ITC Hotels’ signature culinary brands—Bukhara, Avartana, Dum Pukht, Yi Jing, Ottimo, and Royal Vega—remain icons of culinary artistry.
The group’s asset-right growth model is driving expansion into Tier-II and Tier-III cities, leveraging digital adoption and AI to enhance guest experience and operational efficiency. By 2030, ITC Hotels aims to operate 220 hotels with 20,000+ keys.
Key Milestones
- Record-breaking FY performance: ₹3,300+ crore revenue; 36% EBITDA margin.
- 30 new signings; 58-hotel pipeline with 5,300+ keys.
- Unmatched sustainability credentials with multiple global-first LEED® certifications.
- Growth target: 220 hotels and 20,000+ keys by 2030.
- Positioned to harness India’s hospitality boom while upholding the Responsible Luxury ethos.