IHCL portfolio to cross 550 hotels with 55,000 rooms post acquisitions

New Delhi, Aug 12 (PTI) Tata Group-owned IHCL on Tuesday said its hotel portfolio is set to cross 550 properties with 55,000 rooms after the country's largest hospitality firm signed definitive agreements to acquire a controlling stake in ANK Hotels and Pride Hospitality.

Indian Hotels Company Limited (IHCL) also inked a distribution agreement with Brij Hospitality Pvt Ltd.

In an interview with PTI, IHCL CEO Puneet Chhatwal said the acquisitions put its Ginger in a pole position in India with a portfolio of nearly 250 hotels and are very well positioned to get to the next 250, which will take it to 500 over the next 5-7 years.

"They also take our presence to 250 cities in India," Chhatwal told PTI. IHCL's midscale hotel chain brand Ginger Hotels covers the mid-market segment.

On Monday, IHCL had informed in a regulatory filing that a committee constituted by its board has approved and executed agreements to acquire about 51 per cent stake each in two entities -- ANK Hotels and Pride Hospitality -- which have a portfolio of 135 hotels operated under 'The Clarks Hotels & Resorts' brand.

The transactions amounting to up to Rs 204 crore will be executed via cash consideration and are expected to be completed by November 15, 2025.

The share subscription and purchase agreements and shareholders' agreements were executed to acquire about 51 per cent equity stake for an amount not exceeding Rs 110 crore in ANK Hotels Pvt Ltd, and Rs 94 crore in Pride Hospitality Pvt Ltd, according to a regulatory filing.

"With many decades of hospitality experience, the promoters of these companies belong to the illustrious Clarks Hotels family. This takes IHCL's portfolio to over 550 hotels," IHCL said.

According to Chhatwal, the outlook for the hospitality sector remains buoyant as demand outpaces supply and India continues to be an underserved hospitality market, especially in the mid-market segment.

"Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India's heterogeneous market landscape and is in line with IHCL's five-year road map 'Accelerate 2030' of unlocking India's tourism potential," Chhatwal stated.

ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd have a portfolio of 135 hotels in the midscale segment spread across 110 locations and are presently operated under The Clarks Hotels & Resorts, which over the next few months will be integrated operationally and migrated to IHCL's brandscape predominantly under the Ginger brand, among others.

These hotels are on a capital-light arrangement of management contracts and select operating leases. Brij Hospitality has a portfolio of 19 hotels in the experiential leisure segment in India's unique destinations. PTI RSN DR DR