Hotel Sector

ITC Hotels has announced the signing of a management agreement for its latest property, Mementos by ITC Hotels Siliguri, located in West Bengal. This development strengthens the brand’s footprint in the state, bringing its total count of operational hotels to six, with another six in various stages of development. The launch of Mementos by ITC Hotels marks the brand’s entry into Eastern India, capitalizing on the surge in domestic tourism and the growing demand for immersive travel experiences, particularly in the wedding and hospitality segments.

Indian Hotels Company Ltd (IHCL), one of India's premier hospitality brands, has announced the signing of a brownfield project to develop a 65-key Gateway hotel in McLeodganj, Himachal Pradesh. In partnership with Mcleo Times Square, this new venture marks an important step in IHCL's strategy to enhance its presence in the state's top leisure destinations. The project is set to cater to the growing influx of both domestic and international tourists visiting the culturally rich McLeodganj.

IHG Hotels & Resorts has achieved a major milestone in its India growth strategy with the opening of Crowne Plaza Lucknow, marking its 50th operational hotel in the country. This development underscores the hospitality giant’s commitment to expanding its footprint across India by balancing its mainstream offerings with a growing portfolio of premium and luxury brands.

Indian Hotels Company Ltd (IHCL), the hospitality arm of the Tata Group, has announced the addition of a new Gateway-branded property in the spiritually significant town of Nathdwara, Rajasthan. The 101-key hotel reflects IHCL’s strategic emphasis on expanding its presence in religious and cultural destinations across India. This latest signing strengthens IHCL’s footprint in Rajasthan, bringing the company’s total to 31 hotels in the state, including eight currently under development.

Schloss Bangalore Ltd, operator of the prestigious Leela Palaces Hotels and Resorts, witnessed a 17% subscription rate on the second day of its Rs. 3,500 crore initial public offering (IPO). The issue, comprising Rs. 2,500 crore fresh equity and a Rs. 1,000 crore offer-for-sale by promoter Project Ballet Bangalore Holdings, has attracted Rs. 1,575 crore from anchor investors. Retail investors showed strong interest with a 41% subscription rate, while non-institutional and qualified institutional buyers exhibited more cautious demand. The offering, priced between Rs. 413 and Rs.

Radisson Hotel Group has announced a strategic expansion in Eastern India through the signing of three new hotel projects—two in Jharkhand and one in Odisha. The development will add approximately 400 rooms to its national portfolio and aligns with the group's broader vision of tapping into high-potential, underserved regions. With five operational properties and eight in the pipeline across East India, Radisson aims to strengthen its footprint in tier-2 and tier-3 cities, reinforcing its position as a dominant player in both established metro markets and emerging destinations.

Schloss Bangalore Ltd, the operator of India’s iconic Leela Palaces, Hotels and Resorts, has successfully secured Rs. 1,575 crore from anchor investors ahead of its highly anticipated Rs. 3,500 crore initial public offering (IPO). The anchor round drew enthusiastic participation from a mix of heavyweight domestic mutual funds and prominent global institutional investors, reflecting strong confidence in the hospitality brand's growth trajectory. The IPO, opening to the public from May 26–28, will help the Brookfield-backed company pare down debt and fund corporate initiatives.

ITC Hotels has fortified its presence in Uttar Pradesh by signing an agreement to launch Welcomhotel in Vrindavan, marking a strategic expansion into a significant pilgrimage market. Situated along the Delhi-Agra Highway near the Noida International Airport, the new property will offer 120 rooms, enhancing the company’s portfolio in the region, which currently includes six hotels with 479 keys. This move reflects ITC’s recognition of the burgeoning domestic pilgrimage tourism sector, driven by travelers seeking culturally immersive and spiritually meaningful experiences.

Radisson Hotel Group has broadened its presence in India with the launch of five new properties in the first half of 2025, reinforcing its long-term commitment to the country’s rapidly evolving hospitality market. The new hotels are located in Jamshedpur, Yelahanka (Bengaluru), Koti (Shimla), Gaj (Punjab), and Prayagraj. This expansion highlights Radisson’s adaptive strategy tailored to India's diverse travel ecosystem, spanning industrial hubs, spiritual destinations, and emerging leisure hotspots.

ITC Hotels Ltd reported a notable 19% year-on-year increase in consolidated net profit for the March 2025 quarter, reaching Rs. 257.85 crore, supported by improved revenues and operational efficiencies. The company’s revenue from operations rose to Rs. 1,060.62 crore during the quarter, reflecting resilience in the hospitality sector amid a competitive landscape. Full-year performance also marked significant strides, with FY25 consolidated net profit climbing to Rs. 637.64 crore from Rs. 423.87 crore a year earlier.