Indian Hotels to build 33 new properties.

The Indian Hotels Company (IHCL), the country's biggest hotel chain, will augment capacity by 26 per cent in the coming years. The Mumbai-based hotel chain, which currently has 125 hotels, will add 33 new hotels across its four brands - Taj, Vivanta by Taj, Gateway, and Ginger. These 33 hotels together will have 3,700 rooms, which will take IHCL’s total number of rooms to about 20,000.

A capital expenditure outlay of Rs. 450 crore has been earmarked for the coming years, although IHCL has already outlined its intention to become asset-light with minimal spending plans.

Cyrus Mistry, chairman of IHCL, sai: 'The hospitality sector continued to face a very challenging environment (Iin the previous year). Additionally, significant increases in new domestic supply has put immense pressure on all hotels.'

BS