In his address, Sanjiv Puri reflects on ITC Hotels’ 50-year journey, responsible luxury and its ambitious vision for future growth
It is indeed a privilege to welcome the members to the 3rd Annual General Meeting of the Company.
This year marks a defining milestone in the journey of ITC Hotels as it celebrates 50 glorious years of shaping an iconic hospitality institution – Indian in soul, global in excellence and purposeful by design. Inspired by the timeless spirit of Atithi Devo Bhava, ITC Hotels has nurtured an enduring culture of warmth, intuitive care and gracious service over the years, making it the Company’s hallmark across its vibrant portfolio.
India’s architectural splendour and culinary legacy find expression in many of the distinctive ITC Hotels, highlighting the glory of the nation to discerning guests from within and abroad. Guided by the philosophy of ‘Responsible Luxury’, the Company has also demonstrated that world-class hospitality can flourish in harmony with sustainability and inclusive growth.
As ITC Hotels embarks on an even more momentous future, it does so with humility and pride. For five decades, ITC Hotels has welcomed generations of guests, celebrated the finest expressions of India and built an enduring institution of trust and excellence. Its greatest legacy lies not only in its unique offerings, but also in the place it has earned in the hearts of its guests.
India’s Resurgence: Transforming Tourism into a Strategic Growth Engine
The world is today witnessing a structural reset as volatility compounds and stability becomes more elusive. The crisis in West Asia continues to impact energy security, trade and travel, even as climate change intensifies, calling for new strategies to reimagine growth and competitiveness. Yet, global hospitality has demonstrated remarkable resilience. In 2025, demand remained robust, with over 4 million international overnight arrivals every day. Growing faster than the global economy at over 4%, travel and tourism reaffirmed its role as a powerful engine of growth.
India’s impressive growth trajectory, inspired by Hon’ble Prime Minister’s vision and the Government’s progressive policies have transformed the nation into the world’s fastest-growing major economy. Sustained public investment in infrastructure has propelled the expansion of road, rail and air networks enabling connectivity at scale. As distances shrink and several destinations open up, new opportunities are unfolding across the travel and hospitality sector.
India’s young, aspirational population, rising incomes and rapid urbanisation are creating a new generation of experience-led travellers seeking richer and more distinctive journeys. A welcome trend has been the surge in domestic tourism to over 4 billion domestic visits, significantly up from the pre pandemic level of around 2.3 billion. Domestic visitor spending is expected to nearly double, from Rs 19 trillion in 2026 to Rs 36.5 trillion by 2036, highlighting the immense potential ahead. This continued momentum in domestic travel is transforming Indian hospitality from a cyclical opportunity to a strategic growth engine. As India ascends on the global stage, the tourism economy will scale new horizons and trigger a virtuous cycle of consumption, investment and employment.
Key Drivers Unleashing the Tourism Potential
There are few countries in the world which are blessed with such a rich and diverse tourism landscape from the mountains to the sea, from heritage to the modern, from nature to culture, among many others. India’s 45 UNESCO World Heritage Sites also reflect the diversity of experiences that the country has to offer. India accounts for less than 1.5% of global international tourist arrivals, of which almost 55% are NRI arrivals.
Given the extremely rich tapestry of destinations, it is imperative that pathways are crafted to achieve the country’s aspiration to move from tourism potential to tourism leadership, attracting 100 million inbound visitors by 2047. Successive Budgets have advanced this agenda towards developing 50 world-class tourist destinations in partnership with States.
The sheer diversity of experiences India offers is unparalleled. The ‘Wed In India’ vision is more than destination weddings, which today form the world’s largest private celebrations, — it brings alive India’s traditions, cultures, cuisines even as it makes enduring memories. Spiritual and religious tourism have gone beyond pilgrimage to combine faith, heritage, mindfulness and cultural discovery as ‘Soul Trails’ define the journey within, rather than only to a destination. ‘Heal in India’ draws not only on professional medical expertise and modern technology but also encompasses India’s civilisational strengths in Ayurveda, Yoga, meditation and naturopathy traversing a journey from cure to care, and from recovery to renewal.
A new category that blends passion with energy-packed performances attracting both GenZ and the young-at-heart are the concerts, sporting events, festivals and cultural performances that form the ‘Eventscape economy’ – aided by great infrastructure, rich cultural diversity and distinctive regional festivals. ‘Meet in India’ leverages the global attention on the Indian economy and its capabilities with high-powered business events, delegations, MICE and others supported by world class infrastructure such as the Bharat Mandapam and Yashobhoomi. The possibilities are as limitless as the experiences India offers, each with the promise of creating unforgettable moments.
Travel & Tourism are powerful drivers of economic growth and contribute significantly to regional development. It is a large employment multiplier with opportunities that span across hospitality, restaurants, travel & logistics, digital platforms and on-ground support with qualified tour guides, among others. It is estimated that by 2036, the travel & tourism sector will contribute to 7% of India’s GDP and 13% of employment, adding over 15 million additional jobs.
The Company believes this impact could be even higher, given the enormous opportunities and headroom for growth. The mosaic of experiences and unique locations that the country possesses indeed present an exceptional opportunity today to make India one of the world’s most preferred tourism destinations. As a committed Indian hospitality Group, this is the aspiration that powers the Company’s ambition and provides the wind beneath its sails to achieve the shared goal of a Viksit Bharat.
Against this backdrop, the Company now turns to its performance and the key pillars shaping the journey ahead.
Responsible Luxury: Performance with Purpose
Over the years, the Company has established a significant and growing hospitality footprint, with around 150 operating hotels and more than 14,200 keys across India, Sri Lanka and Nepal.
For the year under review, the Company’s Total Income grew 19% to over ₹4,331 crore and PAT by 29%. This strong performance reflects disciplined execution, smart revenue management and operational excellence focused on superior guest experiences.
Over the past 24 months, the Company signed 63 hotels and opened 29 properties, reaffirming the strength of its Asset-Right strategy in delivering accelerated growth and profitability.
Every chapter of the journey continues to be shaped by the philosophy of Responsible Luxury. The Company believes that the finest in Luxury can coexist with the lightest footprint, offering exceptional experiences with the deepest respect for the planet.
Today, ITC Hotels has the distinction of operating the world’s largest portfolio of LEED® Platinum certified hotels with 25 properties. It is also the first hospitality Group globally to achieve LEED® Zero Water certification for 13 hotels and LEED® Zero Carbon certification for 12 properties.
It is a matter of pride that the Company was recognised as the World’s Leading Sustainable Organisation and World’s Leading Sustainable Employer at the World Sustainable Travel & Hospitality Awards 2025.
ITC Hotels was recognised as a ‘Great Place to Work’, ranking among India’s leading employers and Asia’s best workplaces. Equally gratifying was the recognition as India’s Best Luxury Hotel Chain, for the ninth consecutive year, at the Travel + Leisure India’s Best Awards.
Vignettes of the Journey Ahead
The Company’s future horizon will be powered by its rich foundational legacy and its vision to be one of the leading hospitality enterprises, creating authentic Indian experiences that blend scale with soul, service excellence with sustainability, and luxury with responsibility.
The Company is inspired by India’s growth story and the tremendous opportunities emerging to transform the tourism landscape. Over the years, it has crafted a differentiated and future-ready portfolio designed for diverse travel occasions and destination contexts. Across the Company’s seven brands, ITC Hotels, Mementos, Welcomhotel, Storii, Fortune Hotels, WelcomHeritage and the newly introduced Epiq Collection, it serves evolving aspirations across luxury, premium, upscale, heritage and boutique hospitality. Each brand brings alive a distinctive experience while staying united with the signature warmth delivered with global standards of excellence.
In line with its asset-right strategy, the Company will continue to invest in promising opportunities whilst pursuing management contracts that are aligned to its strategic vision and business objectives. A pipeline of 78 hotels with over 8,000 keys supports its ambition to scale the operating portfolio to 250 hotels and over 22,000 keys over the next five years. The Company is investing in the development of new properties in Puri, Visakhapatnam and Delhi, while expanding its hotel in Bhubaneswar, together adding nearly 670 rooms to its portfolio.
Inorganic growth is also being pursued through the acquisition of a new property in Kerala and the signing of another in Ahmedabad. In addition, the Company has recently signed agreements for properties in Ayodhya, Bodh Gaya, Gandhinagar, Guwahati, Jaipur, Rajgir, Shahjahanpur and Shirdi, further strengthening its presence across key destinations for pilgrimage, heritage, weddings, leisure, wellness and emerging business travel.
The Company’s iconic culinary institutions continue to distinguish it globally and provide it an unmatched identity. Even as it preserves and enriches the unique legendary cuisines from Bukhara, Dum Pukht, Avartana and Peshawri, it is constantly innovating to provide guests with new curations and offerings. The Company takes pride that its iconic restaurants Bukhara, Avartana and DumPukht continue to receive top accolades as distinctive cuisine destinations in India. Recognising the trend for holistic wellness, Kaya Kalp – The Royal Spa draws on India’s ancient sciences to offer indigenous therapies alongside global treatments. The refreshed Club ITC loyalty ecosystem is deepening engagement across stays, dining, celebrations and wellness, while enabling more seamless and personalised relationships.
Digital and AI technologies are at the core of the Company’s strategy to transform guest experiences, enhance operational efficiencies, enable sharper revenue management and seamless solutions. Towards this, it continues to invest in cloud-first digital architecture, Artificial Intelligence and integrated data capabilities across its growing network.
The Company’s people are the soul of the enterprise, and it recognises that engaged, capable and values-led teams give it the competitive edge in warmth, care and efficiency. Investment in talent, learning and service capability therefore remains central to its strategy. The ITC Hospitality Management Institute, its flagship learning and leadership development institution, plays a pivotal role in nurturing talent, developing future leaders and strengthening the management pipeline.
In Conclusion
As a leading Indian hospitality major, ITC Hotels continues to be driven by its bold aspirations, commitment to impeccable standards, exemplary sustainability practices, an abiding devotion to its guests and resolve to shape new benchmarks of global excellence.
The Namaste symbol that adorns its masthead, properties and ethos symbolizes the spirit of ‘Sevā’, which guides every thought, strategy and action. A spirit of service that not only welcomes guests but honours all those who cross its portals.
As ITC Hotels celebrates 50 glorious years, it does so with pride in its legacy and confidence in its future. On behalf of the Board, the Company extends its sincere gratitude to all its guests for their enduring trust, its employees for serving with passion and dedication, its partners and the communities for always standing by it and its shareholders and stakeholders for their continued confidence and support.
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