- 01 Apr 2025
- ICICIdirect Research
INDIAN HOTELS COMPANY LTD. (IHCL) LAUNCHED THE CLARIDGES COLLECTION ON FRIDAY IN PARTNERSHIP WITH TAKING CLARIDGE HOTELS
INDHOTEL - 788 Change: -2.45 (-0.31 %)News: Indian Hotels Company Ltd. (IHCL) launched the Claridges collection on Friday in partnership with taking Claridge Hotels, New Delhi under management contract for 25 years. The collection will be expanded to more hotels — The Taj Connemara in Chennai, which will be rebranded under the portfolio in the new financial year. Meanwhile, the Blue Diamond in Pune — currently under the SeleQtions brand — will be rebranded after it undergoes renovations over the coming year-and-a-half. The new Claridge collection will be expanded to 20 over by 2030. Claridge portfolio will fit into the luxury segment along with Taj brand.
View: IHCL currently has 375 properties which it expects to double to almost 750 properties by 2030. The company expects Ginger and Gateway brands to drive the growth for the next few years. IHCL added 1,818 rooms as of 9MFY25 out of which 1172 were management contracts and 646 rooms were under owned category. The company expects to add 336 rooms under managed pipeline and 159 under owned pipeline for Q4FY25 expecting to achieve its target of 2100+ rooms in FY25. The company is scheduled to open 3927 rooms in FY26 and 4164 rooms in FY27. Large part of room inventory will come under the management contract in the coming years. Revenues from management contract are expected to reach Rs1,000crore by FY2030 from current rate of Rs400-450crore. As per the aspiration 2030, the company is aiming of doubling the revenue to Rs15,000crore by 2030 through prudent capital allocation strategy and driving growth in the new business vectors.
Impact: Positive