IHCL CEO Puneet Chhatwal outlines bold growth plans, scaling Ginger Hotels and seizing India’s tourism potential.
Speaking at a press conference, Puneet Chhatwal, Managing Director and CEO of Indian Hotels Company Limited (IHCL), laid out his strategic agenda, underscoring how strongly the company is performing across all parameters while positioning itself for rapid future growth.
His remarks conveyed a confident outlook for both the company and the broader tourism industry, framing travel not only as a driver of economic activity but also as an important contributor to India’s global influence.
Calling tourism “a source of soft power” as well as an economic catalyst, Chhatwal praised the government’s “phenomenal” investments in infrastructure — pointing to the doubling of airports, the steady expansion of highways, and the extensive upgrades to train stations. He noted that these developments are already acting as powerful stimulants for both domestic tourism and inbound travel, with the potential to unlock entirely new markets.
From Policy Vision to Market Potential
Puneet Chhatwal highlighted the remarkable growth in India’s branded hotel supply over the past decade, which has doubled from 100,000 to 200,000 rooms. Despite this surge, he said, the total remains modest compared to the inventories of several smaller international markets. This gap, he argued, reveals a significant opportunity for expansion. “The opportunity for exponential growth is very, very big,” he remarked, predicting that the 300,000-room milestone could be reached well before 2030. He added that the mid-market segment would likely account for nearly half of that total, underscoring its central role in the next phase of industry growth.
A major focus of his address was IHCL’s transformation “from a branded house to a house of brands” — a deliberate diversification that has seen each brand within the portfolio take on a distinct identity and market positioning. Within this shift, Ginger Hotels has emerged as a powerful growth engine. Relaunched in 2018–19 as a lean-luxury concept, Ginger has successfully evolved from its earlier “budget” perception into a vibrant, lifestyle-led offering.
Puneet Chhatwal explained that this repositioning has centred on securing prime, high-visibility locations, especially large-format hotels in and around airports. He offered the 371-room Ginger at Mumbai Airport as a case in point. Operating at 88–90% occupancy and averaging ₹6,500 a night, the property has achieved margins of 50–62% for newly built or reimagined hotels. “The highest visibility you have is at airports,” he said. “Whether people are staying there or not, they’re always crossing that site.”
Scaling Ginger and Strengthening Partnerships
Currently at 106 properties, Ginger has ambitious growth targets, with Chhatwal setting his sights on scaling the brand to 1,000 hotels in the foreseeable future. He noted that this level of expansion is not without precedent — in the mid-scale category, it has been achieved “at least 50 times globally.” IHCL, he suggested, has both the strategy and the execution capability to replicate that success in India.
A significant accelerator in this journey is IHCL’s recent partnership with the Clarks group. The deal adds 135 hotels to the IHCL fold and instantly doubles the company’s mid-market presence to over 240 properties. Chhatwal described this not merely as an expansion of inventory, but as the integration of “people who were born in hospitality” — seasoned operators whose expertise can amplify Ginger’s growth trajectory.
He also pointed to IHCL’s steady move towards an asset-light business model as a key enabler of expansion.
Eight years ago, the company’s portfolio was 77% capital-heavy. Today, that figure has fallen to under 50%, with a target of 35% in the near term. This shift allows the company to accelerate growth without overextending its balance sheet, while still maintaining control over brand standards and guest experience.
Balancing Luxury and Mid-Market Growth
For Chhatwal, the winning formula lies in a balanced approach — marrying IHCL’s iconic luxury through the Taj brand with aggressive expansion in the mid-market through Ginger and other offerings.
“This dual-track strategy ensures that the company can capture demand across the full spectrum of travel, from high-end luxury seekers to value-driven business and leisure travellers.
“Once you find the right business model, the right growth model, the right mix, the right product, the right value for the customer, everything is possible,” he concluded. His comments reflected a sense of momentum built on both a strong operational foundation and a clear vision for the future.
With a diversified brand portfolio, a sharpened mid-market strategy, a growing network of strategic partnerships, and an operational model designed for scalability, IHCL is positioning itself not only to benefit from India’s tourism boom but to help lead it. As the country’s travel sector continues its rapid expansion, the company’s blueprint for growth underscores how the right mix of infrastructure, brand development, and operational efficiency can translate into lasting market leadership.
IHCL Expands to 550+ Hotels with ANK, Pride, and Brij Hospitality Integration
Against this backdrop of industry optimism, IHCL announced a landmark strategic partnership and acquisition that significantly expands its reach. The company will acquire a controlling stake in ANK Hotels Pvt Ltd and Pride Hospitality Pvt Ltd, alongside a distribution agreement with Brij Hospitality Pvt Ltd.
The move boosts IHCL’s portfolio to over 550 hotels, strengthens its midscale presence to 240+ properties, and introduces the boutique luxury Brij Hotels brand into its fold. The promoters of ANK Hotels, Pride Hospitality, and Brij Hospitality come from the illustrious Clarks Hotels family, bringing decades of heritage and operational expertise.
Puneet Chhatwal described the deal as a strategic fit with IHCL’s Accelerate 2030 roadmap: “Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India’s heterogeneous market landscape… Expanding our brandscape, the strong brand equity of Brij Hotels in India’s cultural and historical centres extends our offering in the experiential boutique luxury segment.”
ANK Hotels and Pride Hospitality bring 135 midscale hotels across 110 locations, which will be integrated largely under the Ginger brand. Brij Hospitality’s 19 unique properties will further strengthen IHCL’s position in the high-end experiential travel market.
Ankur Dalwani, Executive Vice President & Chief Financial Officer, IHCL, confirmed the investment would be funded through internal accruals, supporting asset upgrades and future growth.
The transaction aligns with IHCL’s asset-light growth strategy, with most of the new properties under management contracts or select operating leases, further reinforcing its leadership in the midscale to boutique luxury segments.
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