ITC Hotels Limited convened for the first time since its historic listing on the stock exchanges, marking a defining moment in the company’s journey
Addressing the gathering, Sanjiv Puri, Chairman of ITC Hotels Limited, said, “Today marks a momentous occasion as we gather for the first time following the company’s historic listing on the stock exchanges. This is yet another milestone in the illustrious journey of the company, as we stride with purpose and confidence towards shaping a trailblazing future.”
He highlighted that ITC Hotels’ rich legacy—comprising iconic properties rooted in Indian culture, globally acclaimed cuisines, and exceptional service—positions the company to create “an even more glorious tomorrow.” He reaffirmed the company’s commitment to its pioneering ethos of Responsible Luxury, describing it as “the spirit of compassionate capitalism.”
On the broader industry outlook, Sanjiv Puri noted, “We stand today at a transformative juncture as significant opportunities unfold for the tourism and hospitality sector. ITC Hotels is well poised to script a new chapter with sharp strategic focus, enhanced agility, soulful hospitality and a commitment to long-term value creation—one that aspires to deliver enduring value to all stakeholders, while reinforcing its position as a leader in Responsible Luxury.”
In addressing global challenges, he remarked that geopolitical conflicts, geo-economic fragmentation, and the climate crisis require reimagined strategies to ensure resilience. He praised India’s rise as the fastest-growing major economy and noted, “The Prime Minister’s vision to build an Atmanirbhar Bharat is inspiring India’s transformation into an economic, strategic, and technological powerhouse.”
Sanjiv Puri also stressed the role of innovation, saying, “Today’s turbulent world calls for nations to invest in innovation and technology to emerge as strong, self-reliant economies.” He identified India’s demographic advantage, rising incomes, urbanisation, technological prowess, and entrepreneurial spirit as key drivers for sustaining competitive strength.
Looking at the company’s performance, ITC Hotels reported total income exceeding ₹3,300 crore for the year, with EBITDA margins expanding to 36%, supported by structural efficiencies and all-round growth. The Food & Beverages segment also delivered strong results, benefiting from innovative culinary offerings, refreshed key outlets, and robust performance in MICE and bespoke events.
In 2024, the company signed 30 management and franchise contracts, building a healthy pipeline of 58 hotels with over 5,300 keys, and is firmly on track to exceed its target of 200 hotels by 2030. Currently operating over 140 properties across 90 locations under six distinctive brands, ITC Hotels remains one of the fastest-growing hospitality chains in the country.
“Our rich legacy of iconic properties, rooted in the soil and culture of India, combined with globally acclaimed cuisines and service excellence, uniquely position us to build an even more glorious tomorrow,” said the company’s leadership in a statement. “We are committed to compassionate capitalism through our pioneering ethos of Responsible Luxury.”
Continuing to raise the bar in sustainable hospitality, ITC Hotels operates 23 LEED Platinum®-certified green properties – the largest number by any hotel chain in the world. In a global first, 12 iconic hotels achieved LEED® Zero Carbon certification, while nine attained the LEED® Zero Water distinction. ITC Hotels also became the first Indian hotel chain to receive the prestigious 2024 US Green Building Council Leadership Award for Organisational Excellence.
The company’s premium luxury hotels have surpassed the 2030 GHG sectoral emission targets for the fifth consecutive year, aligning with the COP21 Paris Agreement.
Capitalising on India’s Tourism Growth
India’s travel, tourism, and hospitality sector is experiencing unprecedented momentum. In 2024, international visitor spends reached a record ₹3.1 trillion, while domestic travel spends stood at ₹15.5 trillion – 22% above pre-pandemic levels. With only 0.3 hotel rooms per thousand people compared to the global average of 2.2, the sector holds significant growth potential.
Backed by a rich cultural heritage, 44 UNESCO World Heritage Sites, and a surge in nature, adventure, cultural, spiritual, medical, and MICE tourism, India offers a fertile environment for expansion. Government initiatives to develop 50 top tourist destinations in partnership with states are expected to be major employment multipliers. The company’s first international foray, ITC Ratnadipa in Colombo, marks the ambition to take Indian hospitality global, with expansion into Nepal already underway.
Future Outlook
The company’s asset-right growth strategy, expanding presence in Tier 2 and Tier 3 cities, and significant investments in digital innovation, including AI, are expected to further strengthen its market position. ITC Hotels aims to operate 220 properties with over 20,000 keys by 2030.
“Our team embodies the timeless philosophy of Atithi Devo Bhava, delivering excellence that makes us proud,” said Sanjiv Puri, adding. “With the support of shareholders, partners, and guests, we will continue to enrich our legacy – one founded on trust, guided by innovation, and deeply committed to sustainable excellence.”
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