Shares of Indian Hotels rose 2% in early trade on July 7 as the company announced signing agreements for 11 hotels and opening five new hotels during the April-June quarter. This expansion has increased the country's largest hospitality company's portfolio to 270 hotels, positioning it well on track to achieve its vision of over 325 hotels by 2025.
Indian Hotels is making significant strides in its expansion plans and aims to venture into new areas such as Gangtok, Tawang, Jaisalmer, and more. Currently, the company operates 191 hotels across various brands. Deepika Rao, Executive Vice President of Hotel Openings and Corporate Communications at Indian Hotels, expressed confidence in the company's growth trajectory and stated that the new hotels will contribute to its diverse portfolio.
The company's expansion strategy focuses on both fee-based and owned properties, with the majority of its pipeline consisting of fee-based projects. Furthermore, Indian Hotels has successfully reimagined its businesses, including TajSATS and Ginger, which have shown strong performance and promising future prospects.
Motilal Oswal Financial Services, a brokerage firm, maintains a positive outlook on Indian Hotels, highlighting its robust pipeline and the success of its reimagined businesses. The firm has given a 'buy' rating to the stock, with a price target of Rs 440.
As of now, shares of Indian Hotels Co were trading 1.75% higher at Rs 391.90 on the National Stock Exchange, reflecting the positive market response to the company's expansion plans and growth prospects.
