ITC Hotels: Difference between revisions

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{{More citations needed|date=October 2008}}
{{More citations needed|date=October 2008}}
{{Infobox company
{{Infobox company
| name             = ITC Hotels
| name = ITC Hotels
| logo             = ITC Hotels.png
| logo = ITC Hotels.png
| image           =
| image =  
| image_caption   = ITC Royal Bengal, Kolkata
| image_caption = ITC Royal Bengal, Kolkata
| foundation       = {{start date and age|1975}}
| foundation = {{start date and age|1975}}
| location_city   = [[Kolkata]]
| location_city = [[Kolkata]]
| location_country = India
| location_country = India
| locations       = 70+
| locations = 70+
| area_served     = India
| area_served = India
| key_people       = Sanjiv Puri
| key_people = Nakul Anand
| industry         = [[Hospitality]]
| industry = [[Hospitality]]
| owner           = [[ITC Limited]]
| revenue = {{up}}
| homepage         = {{URL|https://www.itchotels.com}}
{{INRConvert|2689.12|c}} (2023) <ref name=pnl>{{Cite web|url=https://www.bseindia.com/xml-data/corpfiling/AttachHis/36c519c8-d75a-438e-b72e-a73d44b03ca4.pdf|title=ITC Q4FY23 results}}</ref>
| net_income = {{up}}
{{INRConvert|557|c}} (2023) <ref name=pnl/>
| assets = {{up}}
{{INRConvert|7896|c}} (2023) <ref name=pnl/>
| owner = [[ITC Limited]]
| homepage = {{URL|https://www.itchotels.com}}
}}
}}


'''ITC Hotels''' is India's third largest [[hotel chain]] with over 100 hotels.<ref>{{cite web|url=http://sustain.pata.org/wp-content/uploads/2015/06/FINALIST-ITC-Hotels-India.pdf|title=Tourism for Tomorrow Awards, Global Tourism Business Award : FINALIST ITC Hotels, India|website=Sustain.pata.org|access-date=18 December 2018}}</ref> It is based in the Hotels Division Headquarters at [[Kolkata]], [[West Bengal]].<ref>{{Cite web|url=https://www.telegraphindia.com/states/west-bengal/itc-s-second-address-in-calcutta-to-open-soon/cid/1681249|title=ITC's second address in Calcutta to open soon|website=www.telegraphindia.com|access-date=8 January 2020}}</ref> It is part of the [[ITC Limited]] group of companies.<ref>{{cite web|url=http://www.itcportal.com/about-itc/itc-profile/itc-profile.aspx|title=ITC Limited - One of the World's Most Reputable Companies|website=Itcportal.com|access-date=15 August 2015}}</ref><ref>{{cite web|url=http://www.itcportal.com/about-itc/itc-profile/history-and-evolution.aspx|title=ITC - History and Evolution|website=Itcportal.com|access-date=15 August 2015}}</ref> ITC Hotels is regularly voted amongst the best employers in Asia in the hospitality sector.<ref>{{cite news|url=http://www.hindu.com/2009/04/15/stories/2009041556401600.htm|archive-url=https://web.archive.org/web/20090419234144/http://www.hindu.com/2009/04/15/stories/2009041556401600.htm|url-status=dead|archive-date=19 April 2009|title=Welcomgroup tops Hewitt best employer|date=15 April 2009|work=[[The Hindu]]|location=Chennai}}</ref> It has a franchise agreement to operate most of its hotels as part of [[The Luxury Collection]] of [[Marriott International]].
'''ITC Hotels''' is an Indian [[hotel chain]], which is a part of the [[ITC Limited]] group of companies.<ref>{{cite web|url=http://www.itcportal.com/about-itc/itc-profile/itc-profile.aspx|title=ITC Limited - One of the World's Most Reputable Companies|website=Itcportal.com|access-date=15 August 2015}}</ref><ref>{{cite web|url=http://www.itcportal.com/about-itc/itc-profile/history-and-evolution.aspx|title=ITC - History and Evolution|website=Itcportal.com|access-date=15 August 2015}}</ref><ref>{{cite news|url=http://www.hindu.com/2009/04/15/stories/2009041556401600.htm|archive-url=https://web.archive.org/web/20090419234144/http://www.hindu.com/2009/04/15/stories/2009041556401600.htm|url-status=dead|archive-date=19 April 2009|title=Welcomgroup tops Hewitt best employer|date=15 April 2009|work=[[The Hindu]]|location=Chennai}}</ref> With over 100 hotels, it is India's fifth largest hotel chain. It has a franchise agreement to operate most of its hotels as part of [[The Luxury Collection]] of [[Marriott International]].


==History==
==History==
[[ITC Limited]] entered the hotel business on 18 October 1975 with the opening of a hotel in [[Chennai]], which was renamed [[My Fortune, Chennai|Hotel Chola]].<ref>{{cite web |title= About us |publisher= ITC Hotels | url=https://www.itchotels.in/about.html}}</ref>
[[ITC Limited]] entered the hotel business on 18 October 1975 with the opening of a hotel in [[Chennai]], which was renamed as [[Welcomhotel Chennai|Welcomhotel By ITC Hotels, Cathedral Road, Chennai]].<ref>{{cite web |title= About us |publisher= ITC Hotels | url=https://www.itchotels.in/about.html}}</ref>


ITC Hotels has hosted many visiting royalty and world leaders, including [[George W. Bush]], [[Vladimir Putin]], and [[Barack Obama]].<ref>{{cite news|url=http://www.rediff.com/news/2006/mar/01bush29.htm|title=President Bush arrives|date=1 March 2006|work=[[Rediff]]|access-date=27 July 2010}}</ref><ref>http://infotech.indiatimes.com/articleshow/msid-28103943,prtpage-1.cms{{Dead link|date=July 2010}}</ref><ref>{{cite news|url=http://www.rediff.com/news/2000/oct/02putin.htm |title=Chandragupta ready to host Putin |last=Joseph|first=Josy|date=2 October 2000|work=[[Rediff]]|access-date=27 July 2010 |location=New Delhi}}</ref><ref>{{cite news|url=http://www.hindustantimes.com/india-news/obama-visit-us-wants-no-fly-zone-over-itc-maurya-taj-mahal/article1-1309459.aspx|title=Obama visit: US wants no-fly zone over ITC Maurya, Taj |date=26 January 2015|work=[[hindustantimes]]}}</ref>
ITC Hotels has hosted many visiting royalty and world leaders, including [[George W. Bush]], [[Vladimir Putin]], and [[Barack Obama]].<ref>{{cite news|url=http://www.rediff.com/news/2006/mar/01bush29.htm|title=President Bush arrives|date=1 March 2006|work=[[Rediff]]|access-date=27 July 2010}}</ref><ref>http://infotech.indiatimes.com/articleshow/msid-28103943,prtpage-1.cms{{Dead link|date=July 2010}}</ref><ref>{{cite news|url=http://www.rediff.com/news/2000/oct/02putin.htm |title=Chandragupta ready to host Putin |last=Joseph|first=Josy|date=2 October 2000|work=[[Rediff]]|access-date=27 July 2010 |location=New Delhi}}</ref><ref>{{cite news|url=http://www.hindustantimes.com/india-news/obama-visit-us-wants-no-fly-zone-over-itc-maurya-taj-mahal/article1-1309459.aspx|archive-url=https://web.archive.org/web/20150121212935/http://www.hindustantimes.com/india-news/obama-visit-us-wants-no-fly-zone-over-itc-maurya-taj-mahal/article1-1309459.aspx|url-status=dead|archive-date=21 January 2015|title=Obama visit: US wants no-fly zone over ITC Maurya, Taj |date=26 January 2015|work=[[hindustantimes]]}}</ref> and Donald Trump.<ref>{{Cite web |title=Trump to stay at ITC Maurya's Chanakya Suite; here's how much it costs a night |url=https://www.businesstoday.in/latest/economy-politics/story/donald-trump-itc-maurya-chanakya-suite-how-much-costs-night-250726-2020-02-24}}</ref>


The hotel chain works on a philosophy of "Responsible Luxury"<ref>{{cite news|url=https://www.itchotels.in/responsible-luxury.html|title=Responsible Luxury|date=16 December 2019| work=itchotels.in}}</ref> and each hotel in the chain has a LEEDS (Leadership in Energy and Environmental Design) Platinum rating.<ref>{{cite news |url=http://leed.usgbc.org/leed.html |title=LEED|date=16 December 2019|work=[[USGBC]]}}</ref>
The hotel chain works on a philosophy of "Responsible Luxury"<ref>{{cite news|url=https://www.itchotels.in/responsible-luxury.html|title=Responsible Luxury|date=16 December 2019| work=itchotels.in}}</ref> and each hotel in the chain has a [[LEED]] (Leadership in Energy and Environmental Design) Platinum rating.<ref>{{cite news |url=http://leed.usgbc.org/leed.html |title=LEED|date=16 December 2019|work=[[USGBC]]}}</ref>


Originally incorporated as Rama Hotels Pvt Ltd in 1972<ref>[https://www.zaubacorp.com/company/HOTEL-RAMA-PRIVATE-LIMITED/U55102KA1972PTC002152= Rama Hotels Pvt Ltd] ''Zauba Corp''</ref> and renamed Vishwarama Hotels in 1973. The Vazir Sultan Tobacco Co Ltd. ([[VST Industries]]) bought Vishwarama Hotels in 1980-1981 and soon after, in 1982, the first luxury hotel for the new chain opened in [[Bangalore]].
Originally incorporated as Rama Hotels Pvt Ltd in 1972<ref>[https://www.zaubacorp.com/company/HOTEL-RAMA-PRIVATE-LIMITED/U55102KA1972PTC002152= Rama Hotels Pvt Ltd] ''Zauba Corp''</ref> and renamed Vishwarama Hotels in 1973. The Vazir Sultan Tobacco Co Ltd. ([[VST Industries]]) bought Vishwarama Hotels in 1980-1981 and soon after, in 1982, the first luxury hotel for the new chain opened in [[Bangalore]].


In 1984, ITC Ltd. bought the entire equity capital from VST. In 1985 the Indian government awarded the Hotel that would later become the ITC Gardenia a five star rating.<ref>[https://www.moneycontrol.com/company-facts/itchotels/history/itc01= Company Facts - ITC Hotels] ''moneycontrol.com''</ref>  
In 1984, ITC Ltd. bought the entire equity capital from VST. In 1985 the Indian government awarded the Hotel that would later become the ITC Gardenia a five star rating.<ref>[https://www.moneycontrol.com/company-facts/itchotels/history/itc01= Company Facts – ITC Hotels]. ''moneycontrol.com''.</ref>  


The company name was changed from ITC Ltd. to ITC Hotels in 1986.
The company name was changed from ITC Ltd. to ITC Hotels in 1986.


==ITC brands==
== Demerger from ITC Ltd. ==
[[File:ITC Grand Maratha Hotel, Mumbai, Maharashtra.jpg|thumb|ITC Grand Maratha Hotel, [[Mumbai]]]]
In an effort to unlock value and focus on core competencies, [[ITC Limited|ITC Ltd.]] decided to demerge its hotel business into a separate entity. The board of ITC Ltd. granted in-principle approval for the demerger under a scheme of arrangement.<ref>{{cite web |date=25 September 2023 |title=Behind ITC's Hotels Demerger |url=https://www.business-standard.com/opinion/columns/behind-itc-s-hotels-demerger-123092501279_1.html |publisher=Business Standard}}</ref> Sanjiv Puri, the CMD of ITC, elaborated that the move is part of a broader strategy for capital raising and debt expansion.<ref>{{cite web |date=26 September 2023 |title=ITC CMD Sanjiv Puri Exclusive Interview |url=https://www.cnbctv18.com/business/companies/itc-share-price-cmd-sanjiv-puri-exclusive-interview-hotel-business-demerger-capital-raise-debt-expansion-17875601.htm |publisher=CNBC TV18}}</ref>
[[File:ITC-Grand-Chola-Chennai-2.JPG|thumb|[[ITC Grand Chola Hotel|ITC Grand Chola]], [[Chennai]]]]
 
[[File:ITC Kohenur Hyderabad India.jpg|thumb|ITC Kohenur [[Hyderabad]], Telangana]]
The spinoff will happen at a 10:1 ratio, and an [[Initial public offering|IPO]] is expected to take place in 15 months.<ref>{{cite web |date=26 September 2023 |title=ITC Hotel Spinoff at 10:1 Ratio, IPO in 15 Months |url=https://www.livemint.com/companies/news/itc-hotel-spinoff-at-10-1-ratio-ipo-in-15-months-11692038297794.html |publisher=Livemint}}</ref> The company will hold a stake of around 40% in the new entity, while the balance will be held by the company’s shareholders proportionate to their shareholding.<ref>{{cite web |date=5 August 2023 |title=ITC Hotels Listing Likely in 2024, Company Board to Take Decision on August 14 |url=https://www.businesstoday.in/latest/corporate/story/itc-hotels-listing-in-2024-company-board-to-take-decision-on-august-14-report-392945-2023-08-05 |publisher=Business Today}}</ref>
[[File:Lavasa Fortune Hotel courtyard, Lavasa, Maharashtra.jpg|thumb|Lavasa Fortune Hotel courtyard, [[Lavasa]], Maharashtra]]
 
==ITC Hotels Brands==
 
The group today operates under several distinct brands:
The group today operates under several distinct brands:
*ITC luxury collection, which has 14 hotels
*ITC Hotels, which has 15 hotels
*Welcom Hotels
*Welcomhotel by ITC Hotels, which has 20+ hotels
*Fortune Hotels, which has 54 hotels with 4,446 rooms in 41 cities across India<ref>{{cite news|url=http://www.hospitalitybizindia.com/detailNews.aspx?aid=5406&sid=1|title=Fortune signs up Savoy Hotel in Mussoorie|date=1 July 2009|website=Hospitalitybizindia.com}}</ref>
*Fortune Hotels, which has 35+ hotels
*Welcom Heritage Hotels
*WelcomHeritage, which has 50+ hotels


==ITC Hotels==
<gallery>
*ITC Rama International [[Aurangabad]]
File:ITC Royal Bengalz.jpg|[[ITC Royal Bengal]], [[Kolkata]]
*ITC Grand Bharat, [[Gurgaon]]
File:ITC Grand Maratha Hotel, Mumbai, Maharashtra.jpg|ITC Maratha, [[Mumbai]]
*ITC Maurya, [[New Delhi]]
File:ITC-Grand-Chola-Chennai-2.JPG|[[ITC Grand Chola Hotel|ITC Grand Chola]], [[Chennai]]
*ITC Maratha, [[Mumbai]]
File:ITC Kohenur on Inorbit Mall Road (2).jpg|ITC Kohenur, [[Hyderabad]]
*[[ITC Grand Chola Hotel|ITC Grand Chola]], [[Chennai]]
File:Lavasa Fortune Hotel courtyard, Lavasa, Maharashtra.jpg|[[Lavasa]] Fortune Hotel
*ITC Grand Central, [[Mumbai]]
</gallery>
*ITC Sonar, [[Kolkata]]
*ITC Royal Bengal, [[Kolkata]]
*ITC Fortune Park BBD [[Lucknow]]
*ITC Narmada, [[Ahmedabad]] (Opening in 2020)
*ITC Gardenia, [[Bangalore]]
*ITC Windsor, [[Bangalore]]
*ITC Kakatiya, [[Hyderabad]]
*ITC Kohenur, [[Hyderabad]]<ref>{{cite web|url=https://www.itchotels.in|title=ITC Hotels - Luxury, business and leisure hotels & resorts in India, 5 star hotels in India|website=Itchotels.in|access-date=18 December 2018}}</ref>
*ITC Rajputana, [[Jaipur]]
*ITC Mughal, [[Agra]]
*ITC Welcomhotel Jodhpur, [[Rajasthan]]<ref>{{cite news|url=https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/itc-hotels-to-open-new-premium-welcomehotel-in-jodhpur/articleshow/42177276.cms?from=mdr|newspaper=The Economic Times|access-date=8 January 2020|title=ITC Hotels to open new premium 'WelcomeHotel' in Jodhpur|date=10 September 2014}}</ref>
*ITC Grand Goa Resort and Spa, [[Goa]] (Previously, Park Hyatt Goa, before acquisition)<ref>{{cite news|url=https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/itc-hotels-acquires-park-hyatt-goa-resort-and-spa/articleshow/65872911.cms|title=ITC Hotels acquires Park Hyatt Goa Resort and Spa|first=Anumeha|last=Chaturvedi|date=19 September 2018|access-date=18 December 2018|newspaper=[[The Economic Times]]}}</ref><ref>{{cite web|url=https://www.itchotels.in/hotels/goa/itcgrandgoa.html?source=google&medium=cpc&campaign=EV_ITC_Grand_Goa_Brand_BMM&content=ITC_Grand_Goa_Pre_Launch&gclid=Cj0KCQjwr4beBRDNARIsAGZaZ5dFm3e9THqte25b-5hGIJhbLF7KHUUpGJ-yuDxyKm0wQleQR-aNh7YaAqukEALw_wcB|title=ITC Grand Goa Resort & Spa–Luxury Beach Resort in South Goa|website=ITC Hotels|access-date=18 December 2018}}</ref>
*ITC hotel Colombo, [[Colombo]] (Opening in 2020)


==References==
==References==

Latest revision as of 17:54, 27 September 2023


ITC Hotels
IndustryHospitality
Founded1975; 50 years ago (1975)
Headquarters
Kolkata
,
India
Number of locations
70+
Area served
India
Key people
Nakul Anand
RevenueIncrease ₹2,689.12 crore (US$310 million) (2023) [1]
Increase ₹557 crore (US$64 million) (2023) [1]
Total assetsIncrease ₹7,896 crore (US$910 million) (2023) [1]
OwnerITC Limited
Websitewww.itchotels.com

ITC Hotels is an Indian hotel chain, which is a part of the ITC Limited group of companies.[2][3][4] With over 100 hotels, it is India's fifth largest hotel chain. It has a franchise agreement to operate most of its hotels as part of The Luxury Collection of Marriott International.

History[edit]

ITC Limited entered the hotel business on 18 October 1975 with the opening of a hotel in Chennai, which was renamed as Welcomhotel By ITC Hotels, Cathedral Road, Chennai.[5]

ITC Hotels has hosted many visiting royalty and world leaders, including George W. Bush, Vladimir Putin, and Barack Obama.[6][7][8][9] and Donald Trump.[10]

The hotel chain works on a philosophy of "Responsible Luxury"[11] and each hotel in the chain has a LEED (Leadership in Energy and Environmental Design) Platinum rating.[12]

Originally incorporated as Rama Hotels Pvt Ltd in 1972[13] and renamed Vishwarama Hotels in 1973. The Vazir Sultan Tobacco Co Ltd. (VST Industries) bought Vishwarama Hotels in 1980-1981 and soon after, in 1982, the first luxury hotel for the new chain opened in Bangalore.

In 1984, ITC Ltd. bought the entire equity capital from VST. In 1985 the Indian government awarded the Hotel that would later become the ITC Gardenia a five star rating.[14]

The company name was changed from ITC Ltd. to ITC Hotels in 1986.

Demerger from ITC Ltd.[edit]

In an effort to unlock value and focus on core competencies, ITC Ltd. decided to demerge its hotel business into a separate entity. The board of ITC Ltd. granted in-principle approval for the demerger under a scheme of arrangement.[15] Sanjiv Puri, the CMD of ITC, elaborated that the move is part of a broader strategy for capital raising and debt expansion.[16]

The spinoff will happen at a 10:1 ratio, and an IPO is expected to take place in 15 months.[17] The company will hold a stake of around 40% in the new entity, while the balance will be held by the company’s shareholders proportionate to their shareholding.[18]

ITC Hotels Brands[edit]

The group today operates under several distinct brands:

  • ITC Hotels, which has 15 hotels
  • Welcomhotel by ITC Hotels, which has 20+ hotels
  • Fortune Hotels, which has 35+ hotels
  • WelcomHeritage, which has 50+ hotels

References[edit]

  1. ↑ 1.0 1.1 1.2 "ITC Q4FY23 results" (PDF).
  2. ↑ "ITC Limited - One of the World's Most Reputable Companies". Itcportal.com. Retrieved 15 August 2015.
  3. ↑ "ITC - History and Evolution". Itcportal.com. Retrieved 15 August 2015.
  4. ↑ "Welcomgroup tops Hewitt best employer". The Hindu. Chennai. 15 April 2009. Archived from the original on 19 April 2009.
  5. ↑ "About us". ITC Hotels.
  6. ↑ "President Bush arrives". Rediff. 1 March 2006. Retrieved 27 July 2010.
  7. ↑ http://infotech.indiatimes.com/articleshow/msid-28103943,prtpage-1.cms[dead link]
  8. ↑ Joseph, Josy (2 October 2000). "Chandragupta ready to host Putin". Rediff. New Delhi. Retrieved 27 July 2010.
  9. ↑ "Obama visit: US wants no-fly zone over ITC Maurya, Taj". hindustantimes. 26 January 2015. Archived from the original on 21 January 2015.
  10. ↑ "Trump to stay at ITC Maurya's Chanakya Suite; here's how much it costs a night".
  11. ↑ "Responsible Luxury". itchotels.in. 16 December 2019.
  12. ↑ "LEED". USGBC. 16 December 2019.
  13. ↑ Rama Hotels Pvt Ltd Zauba Corp
  14. ↑ Company Facts – ITC Hotels. moneycontrol.com.
  15. ↑ "Behind ITC's Hotels Demerger". Business Standard. 25 September 2023.
  16. ↑ "ITC CMD Sanjiv Puri Exclusive Interview". CNBC TV18. 26 September 2023.
  17. ↑ "ITC Hotel Spinoff at 10:1 Ratio, IPO in 15 Months". Livemint. 26 September 2023.
  18. ↑ "ITC Hotels Listing Likely in 2024, Company Board to Take Decision on August 14". Business Today. 5 August 2023.

External links[edit]

Template:ITC

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