Indian Hotels Company to acquire equity shares in Rajscape Hotels Pvt Ltd

Indian Hotels Company (IHCL), India's largest hospitality company, today announced the acquisition of majority shareholding in the operating company of Tree of Life, joining hands with Ambuja Neotia Group.

Speaking on the occasion, Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL said, "This acquisition aligns with IHCL's pioneering ethos of creating destinations and building and scaling new hospitality formats. In line with our growth strategy, it also reflects our vision of expanding existing partnerships. Currently, IHCL is in partnership with Ambuja Neotia Group for seven hotels and resorts featuring notable properties such as the Taj Chia Kutir and Taj Guras Kutir in Darjeeling and Gangtok."

He added, "Recognising the growing demand for experiential leisure, IHCL is excited to onboard the Tree of Life brand and scale it to 100 properties by 2030."

Tree of Life Resorts offers tranquil escapes from the everyday, embodying the essence of authentic India in over 15 destinations including off-beat locations like Dared, Dehradun, Varanasi, Binsar, Kumaon, and Udaipurwati.

Mr. Harshavardhan Neotia, Chairman, Ambuja Neotia Group, said, "We are delighted to welcome IHCL to our newest venture taking our collaboration to the next level. As leaders in Indian hospitality, IHCL has been instrumental in pioneering new destinations and travel segments, placing India on the global tourism map. With a proven track record of successfully scaling brands across various formats, we are confident of growing the Tree of Life portfolio with their expertise in developing and operating boutique leisure offerings."

Tree of Life portfolio is 19 resorts & hotels with 2 under development.

Shares of The Indian Hotels Company Limited was last trading in BSE at Rs. 666.50 as compared to the previous close of Rs. 687.15. The total number of shares traded during the day was 66296 in over 2807 trades.

The stock hit an intraday high of Rs. 689.00 and intraday low of 665.00. The net turnover during the day was Rs. 44562863.00.

Source : Equity Bulls

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TheIndianHotelsCompany INE053A01029 IHCL RajscapeHotels Acquisition