Skift Take
IHCL witnessed record number of openings in financial year 2023-24. The company's aggressive expansion led its portfolio to grow 19% in one year.
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Indian Hotels Company (IHCL) aimed for 300 hotels by 2025-26. But the parent company of Taj Hotels reached this goal two years early. The hotel group now has 309 hotels by the end of the 2023-24 financial year.
IHCL has aggressively expanded its footprint with 52 hotel signings and 34 openings last year, a significant increase from its 2022 numbers.
A significant contributor to the increased numbers during 2023 has been the partnership that IHCL has signed with Tree of Life Resorts & Hotels. Under the agreement, the company is offering its marketing and distribution network to the 14 properties of Tree of Life.
IHCL has also ventured in East and Northeast India, with properties in Sikkim, Arunachal Pradesh, Odisha, and West Bengal.
The hotel group has also been focusing on large-format airport hotels. Its leisure and spiritual destination offerings also received a