Content creators mean business
Social media influencers are flipping the rules by first getting followers and then launching products and ...
Diversified conglomerate ITC Ltd plans its first overseas hotel at Colombo, Sri Lanka, in 2018. The Sri Lankan property will be a super-premium one and branded as “ITC”.
According to Ranvir Bhandari, Chief Operating Officer, ITC Hotels & WelcomHotels, the company is also exploring other overseas destinations such as Dubai, Far East nations and Europe.
ITC Hotels, whose commitment to responsible luxury has given it the unique distinction of being the greenest luxury hospitality chain in the world, has four brands. “ITC Hotels” for the super premium luxury ones, “WelcomHotels” for business and leisure travellers, “Fortune Hotels” in the mid-market to upscale properties and WelcomHeritage through which it runs a chain of palaces, forts, ‘havelis’ and resorts.
“Our first overseas foray will be in Sri Lanka. And the hotel is expected to be operational by 2018. This apart, we are also looking for opportunities in Dubai, Far East or Europe, as chances crop up,” Bhandari told BusinessLine on the sidelines of a CII tourism summit, Destination East.
He did not divulge details about the investment or number of rooms in the overseas property. Market sources, however, claim that the property – a greenfield development – will have 350 keys and be up for “mixed (commercial) usage”.
For the first nine months of the year (till December 2015), the country’s second largest hotel chain reported a revenue of ₹923 crore, up 10 per cent from the ₹841-crore it reported in the year-ago period.
The profit before tax (for the segment) stood at ₹13 crore (till December), a 86 per cent rise from ₹7 crore reported in the corresponding period last fiscal.
Other projectsMeanwhile, Bhandari added that ITC will set up its second property at Kolkata, called ITC Royal Bengal and another in Hyderabad, called ITC Kohinoor in 2017. This apart, the group will also look to expand the Welcom and Fortune brands in smaller cities such as Pahalgaon (Kashmir), Amritsar (Punjab), Bhubaneswar and other cities of Gujarat.
“We are also in talks with the UP government on Lucknow. But yes, expansion of the Welcom and Fortune brands have been planned across smaller cities,” he said.
Social media influencers are flipping the rules by first getting followers and then launching products and ...
Paneer, once alien to the South, has found a lucrative market in Chennai
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Carriers claim that all measures — including pre-flight tests, cabin sanitisation and fresh air inflow — have ...
What filters should you apply when mining for under-the-radar small-cap stocks? Read on to find more
High valuation, intensely competitive landscape and small cap nature of the stock are key risks.
Amid choppiness, the benchmark indices slipped marginally; approach the week with caution
SBI Cards (₹1,032.7): Witnesses fresh breakoutBetween September and December last year, the stock of SBI Cards ...
A virus swept aside 2020 plans to mark the 250th year of the birth of Beethoven. We need the German composer’s ...
On the day the oleander baby was born, there was a steady, happy drizzle. Madhu woke up feeling unsteady. The ...
Mr Pandya rose from his recently inherited Japanese swivel chair and walked to observe his recently inherited ...
Marie leaned back in the chair, holding the brandy to her chest, the rain tapping on the windowpanes. She ...
Social media influencers are flipping the rules by first getting followers and then launching products and ...
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Paneer, once alien to the South, has found a lucrative market in Chennai
The Flipkart kids playing adults are back — this time to push the home grown e-commerce marketplace’s grocery ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor