IHCL & CG Hospitality forge partnership, targeting 25 Hotels in the Indian Subcontinent by 2025
by EVENTFAQS Bureau Industry Watch | May 15, 2024 | News
Indian Hotels Company CG Hospitality Ekyam
Indian Hotels Company (IHCL) has forged a strategic alliance with CG Hospitality to broaden its presence across the Indian subcontinent, aiming to achieve a total of 25 hotels by 2025.
The investment needed for this expansion is projected to be approximately Rs 4,000 crore. This portfolio will comprise 11 operational hotels with 900 rooms, along with an additional 14 properties to be integrated into the "Ekyam" platform. The "Ekyam" initiative will focus on exploring opportunities in regions such as the Indian Ocean, the Greater Himalayas, and wildlife reserves, offering adventure experiences. Ram Maheshwari, IHCL's Vice President of Commercials, will spearhead the "Ekyam" platform.
Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL's said that the company has a long-standing association with CG Hospitality, a member of CG Corp Global for over two decades. He added that he is delighted to announce that the next phase of this partnership will pursue accelerated growth in the Indian subcontinent. The total investment for this portfolio of 25 properties with 2,500 rooms under the Ekyam platform is estimated to be around Rs 4,000 crore.
In the Indian subcontinent and the Middle East, IHCL presently operates Taj Exotica Resort & Spa and Taj Coral Reef Resort & Spa in the Maldives, Taj Samudra in Colombo, Sri Lanka, Taj Jumeirah Lakes Towers in Dubai, and Taj Safaris, luxury wildlife lodges located in India and Nepal.
Rahul Chaudhary, MD, CG Hospitality said that the platform will commence with the current portfolio of 11 operating hotels. He added that they have invested over Rs 1,250 crore in the operational and upcoming hotels thus far and are committed to onboarding 14 more hotels under this partnership. Opportunities under this portfolio are immense and CG Hospitality is proud of the partnership with Tata Group's IHCL, spanning 25 years, said Binod Chaudhary, Chairman, CG Corp Global.
This portfolio will comprise 11 operational hotels with 900 rooms, along with an additional 14 properties to be integrated into the "Ekyam" platform, offering adventure experiences.