Indian Hotels Company Limited

The Indian Hotels Company Limited (IHCL) is an Indian hospitality company that manages a portfolio of hotels, resorts, jungle safaris, palaces, spas and in-flight catering services. It is a subsidiary of the Tata Group conglomerate.

The Indian Hotels Company Limited
Indian Hotels Company Limited
Public
Traded asBSE500850
NSEINDHOTEL
ISININE053A01029
IndustryHospitality
Founded1899; 121 years ago (1899)
FounderJamsetji Tata
HeadquartersExpress Towers, Nariman Point, ,
India
Key people
Revenue4,165 crore (US$580 million)[1] (2018)
ParentTata Group
Websitewww.theindianhotels.com

IHCL was founded in 1899 by Jamsetji Tata and is headquartered in Mumbai, Maharashtra. It has more than 160 hotels in 80 locations and 17 countries, with over 20,000 rooms and 25,000 employees.[2]

HistoryEdit

Jamsetji Tata, an Indian industrialist who founded the Tata Group, incorporated IHCL in 1899 and opened its first hotel—The Taj Mahal Palace in Mumbai, Maharashtra, India—in 1903. In the 1970s, IHCL expanded its operations by opening a Tower Wing to The Taj Mahal Palace, Mumbai, the Taj Fort Aguada, Goa and palaces such as Taj Lake Palace, Udaipur and Rambagh Palace, Jaipur. It also expanded outside India by launching Taj Pamodzi, Lusaka in Zambia.[3]

In 2004, IHCL launched its midscale hospitality brand, Ginger Hotels, followed by The Gateway Hotels and Resorts (upscale) in 2007 and Vivanta Hotels (upper upscale) in 2010.[4]

IHCL also operates TajSATS Air Catering Ltd, in a joint venture with SATS (formerly known as Singapore Airport Terminal Services).[5]

In May 2017, IHCL announced it was moving all of its hotels under a unique brand, Taj Hotels Palaces Resorts Safaris. The brands Vivanta by Taj and Gateway were merged into a single business unit.[6][7] During the summer of 2017, Cyrus Mistry stated that some of the group's latest costly acquisitions (Sea Rock Hotel, The Pierre in New York, Taj Boston) "destroyed the economic value of the company".[8] The unique brand decision was reversed in 2018.[9]

In April 2018, the group opened its first location in Saudi Arabia through a partnership with the Umm al-Qura construction company.[10] In April 2019, IHCL launched the hotel brand SeleQtions with 12 location openings.[11] In May 2019, IHCL signed a strategic partnership with GIC Private Limited (Singapore's sovereign wealth fund) to acquire 600 million dollars' worth of hotel assets over three years.[12][13]

BrandsEdit

  • Taj: Luxury hotels with 47 hotels in 34 locations. Its portfolio consists of luxury hotels, resorts, jungle safaris and palaces.
  • Vivanta: Upscale hotels with 25 hotels in 20 locations.
  • Ginger: Midscale hotels with 45 hotels in 32 locations.[14]
  • SeleQtions: Brand that includes hotels such as The Gateway Savoy in Ooty, Vivanta by Taj President in Mumbai, Vivanta by Taj-Blue Diamond in Pune and Vivanta by Taj-Ambassador in Delhi[15]
  • The Gateway: Midscale hotels[16]

GovernanceEdit

  • CEO: Puneet Chhatwal (since 2017)[17]

ReferencesEdit

  1. ^ "Indian Hotels Company Profit & Loss account, Indian Hotels Company Financial Statement & Accounts" (PDF). Taj Hotels.
  2. ^ "Company Overview of The Indian Hotels Company Limited". Bloomberg. 2018-08-13. Retrieved 2018-08-13.
  3. ^ "Rooms with a view of history". @businessline. Retrieved 2018-08-13.
  4. ^ "Forbes India Magazine – Print". www.forbesindia.com. Retrieved 2018-08-13.
  5. ^ "TajSATS to set up 15 kitchens at Rs 400 cr". The Economic Times. 2008-06-14. Retrieved 2018-08-13.
  6. ^ "IHCL brings all its hotels under single brand". Indiatimes.com. 9 February 2017. Retrieved 4 December 2019.
  7. ^ Bidya Sapam (9 February 2017). "Indian Hotels to exit Vivanta and Gateway brands, bring hotels under Taj fold". Livemint.com. Retrieved 4 December 2019.
  8. ^ "IHCL faced 'near-death experience' due to acquisitions: Cyrus P Mistry office". Indiatimes.com. 22 August 2017. Retrieved 4 December 2019.
  9. ^ "DNA MONEY EXCLUSIVE: IHCL may scrap Gateway brand, merge hotels with Vivanta". dna. 2018-04-10. Retrieved 2018-08-13.
  10. ^ Anumeha Chaturvedi (17 April 2018). "IHCL launches first Taj property in Makkah". Indiatimes.com. Retrieved 4 December 2019.
  11. ^ "IHCL launches brand SeleQtions with 12 hotels in India". Livemint.com. 11 April 2019. Retrieved 4 December 2019.
  12. ^ "IHCL and GIC Create a RS. 4000 Cr. / USD 600 Million Platform To Acquire Hotel Assets". Hospitalitynet.org. 17 May 2019. Retrieved 4 December 2019.
  13. ^ Anumeha Chaturvedi (18 May 2019). "IHCL and GIC create Rs 4000 crore platform to acquire hotel assets". Indiatimes.com. Retrieved 4 December 2019.
  14. ^ "Ginger Hotel plans to sell properties to become asset-light". Dalal Street Investment Journal. Retrieved 2018-08-13.
  15. ^ "Reimagining the Taj culture!". BW Hotelier. Retrieved 2018-08-13.
  16. ^ "Our Hospitality Brands". The Indian Hotels Company Limited. Retrieved 26 October 2018.
  17. ^ "Indian Hotels Company appoints Puneet Chhatwal as MD and CEO". Thehindubusinessline.com. 29 August 2017. Retrieved 4 December 2019.