IHCL unveils new ACCELERATE 2030 strategy
Indian Hotels Company (IHCL) has unveiled its new ACCELERATE 2030 strategy under which it plans to expand its current portfolio of 350 hotels to over 700 by 2030, besides reaching an enterprise revenue mark of over Rs 30,000 crore from Rs 13,000 crore currently.
Under the strategy, IHCL aims to take its number of operational hotels to 500 plus in 2030 from 232 currently, and is targeting consolidated revenues of over Rs 15,000 crore in 2030 from Rs 7,000 crore currently. It aims to take the ROCE (return on capital employed) ratio to 20% in 2030 from 15% currently, and wants to sustain its net cash positive position going forward.
“Our vision is to be the most valued, responsible and profitable hospitality ecosystem. So the revenues should double, the portfolio should double. The ROCE should go to 20% plus, and the NPS stays at 70 plus,” said IHCL MD and CEO Puneet Chhatwal on Tuesday, while unveiling the new strategy.
“IHCL has surpassed its guidance by achieving a portfolio of 350 hotels, with over 200 hotels in operation and delivered ten consecutive quarters of record financial performance. This strong performance, coupled with a robust balance sheet, positions us well to accelerate our growth momentum,” he added.
Chhatwal said enabling this vision are ‘long term structural tail winds’ for the sector including India’s forecasted GDP growth of over 6.5%, government’s continued focus on infrastructure spends, hotel demand outpacing supply and the rising affluence of the consumer base.
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