ITC hotels enter Kerala’s hospitality sector

The business conglomerate ITC Ltd. will now enter the hospitality sector of Kerala. ITC is planning to invest in the construction of both a business hotel and a luxury resort in Kochi and Kumarakom.

With a presence in India dating over 100 years, ITC launched its luxury hotel chain in 1975. At present, ITC has over 100 hotels in 80 destinations. One of India’s leading hospitality chains, ITC has alliances with major players across the world, Starwood Hotels & Resorts being one among them.

Kochi has already got its fair share of both domestic and global hotels investing in the hospitality sector. Dubai based Pearl Group and international hotel chain Hyatt are some of the major players planning to open their hotels in Kochi.

ITC is expected to soon pickup a stake of close to 60 percent in a joint venture with Nitesh Estate. Nitesh Estates is a Bangalore based property developer which is a part of the Nitesh Group. The plan for the hotel complex is not yet finalized, but it could very well be a group of luxury service residences that the ITC group may have its eyes set on.

Approximately 2 billion will be invested by the ITC group in building hotels across India in the upcoming years.

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