IHCl aiming for double digit topline growth this fiscal: IHCL MD and CEO Puneet Chhatwal
Tata group-backed Indian Hotels Company (IHCL) has set an ambitious aim of a double digit topline growth this fiscal, besides plans of opening 25-30 hotels. It will also launch hotels overseas, but its primary target will remain India's thriving hospitality industry.
“Our commitment extends to maintaining zero net debt while accumulating cash reserves, positioning us strategically for future investments in cash deployment, capex, M&A, or strategic reserves,” Puneet Chhatwal, MD and CEO of IHCL, told ET in an interview.
Chhatwal said while FY2025 will be a 'breakthrough year' for international expansion, the primary focus will remain on the Indian subcontinent.
«We're expanding internationally with a target of at least three hotels outside of India, with contracts already signed, including two in Bhutan and ongoing discussions for locations such as Dubai, London, Frankfurt, and others. We have two hotels under construction in Dhaka and several negotiations underway in the Indian peninsula, Sri Lanka, and nearby regions,» he said.
«We’re actively exploring opportunities in Southeast Asia, as well as keeping an eye out for the right openings in Europe. While we're also considering opportunities in the Middle East, including Bahrain, Saudi Arabia, and Abu Dhabi, we are proceeding with caution and only pursuing opportunities that align with our strategic vision. South Asia will comprise 95% of our portfolio, with only 5% outside of this region. This strategic mix will remain unchanged, emphasising our commitment to
