Indian Hotels always delivers a bit more than promised; that's the story of last 5-6 years: Puneet Chhatwal
Puneet Chhatwal, MD & CEO, IHCL, says their approach has been pretty balanced. They haven't gone all in on heavy assets or kept things super light, and haven't just zeroed in on one brand. Since they kicked off the journey in 2017-2018 with Aspiration 2022 and then pivoted post-COVID with Ahvaan 2025, they have aimed to diversify their business across both new and traditional areas. The new ventures are mostly fueled by digital, while the traditional ones have benefited from operational efficiency, especially after COVID, when demand started to outpace supply. Also, their growth isn't just about direct comparisons. Over the past six years, IHCL has more than doubled its portfolio size, and are launching more than one hotel every month.
Rs 1 lakh crore market capitalization for Indian Hotels? Do you count the zeros?
Puneet Chhatwal: Actually, I do not know how to count them. But yes, indeed a very proud moment for the sector, not just for the group. I think this sector was not known for value creation as much as it was for the glory part of it. And I think finding that sweet spot and the right balance has been very well driven in the entire sector globally, post-COVID.
IHCL has been a turnaround story, how much of that is largely because of the sector, which is now enjoying a tailwind? How much is this because of the Taj brand and the Tata culture? And how much is this because of Puneet Chhatwal?
Puneet Chhatwal: The last is because sometimes you end up being in the right place at the right time. I would say the
