ITC Hotels witnessing growing interest among property owners to partner with its brand : ITC Annual Report
ITC Hotels brand portfolio, out of which 24 are managed properties, as per excerpts from ITC's annual report 2023-24.
As per ITC’s annual report, the hotels business continues to leverage its ‘asset-right’ strategy to be amongst the fastest growing hospitality chains in the country with over 130 properties and 12,000 rooms under distinctive brands such as ‘ITC Hotels’ in the luxury segment, ‘Mementos’ in the luxury lifestyle segment, ‘Welcomhotel’ in the upscale segment, ‘Storii’ in the boutique premium segment, ‘Fortune’ in the mid-market to upscale segment and ‘WelcomHeritage’ in the leisure and heritage segment.
As per the report, the business is witnessing 'growing interest' amongst property owners to partner with its brands resulting in a healthy generation of leads and pipeline of management contracts.
The business is confident of rapidly scaling up revenues through this route going forward, the report stated.
ITC Hotels has embraced an «Asset-right» approach as part of its ITC Next strategy. The focus is on sweating existing assets, increasing the footprint of management contracts and creating additional revenue streams to engender the next horizon of growth and value creation while providing best-in-class consumer experience.
Continuing with the pursuit of its ‘asset-right’ strategy, the business had recently launched two new brands — ‘Mementos’ in the luxury lifestyle segment and ‘Storii’ in the boutique premium segment.
‘Storii by ITC Hotels’ is positioned as a collection of handpicked properties
