HBI Staff | Hyderabad 
In a strategic move to enhance its footprint in the boutique and experiential hospitality sector, the Indian Hotels Company Limited (IHCL), the Tata Group’s hospitality division known for its Taj Hotels, has approved the acquisition of a 55% stake in Rajscape Hotels. The all-cash deal, valued at up to Rs 18 crore, was detailed in a stock exchange filing and is anticipated to conclude within 90 days.
Rajscape Hotels operates 16 boutique properties across India under the brand ‘Tree of Life Resorts & Hotels.’ This acquisition marks a significant step for IHCL in its commitment to scaling new hospitality formats and extending its reach in off-beat and experiential destinations.
IHCL confirmed the transaction involves a share subscription and purchase agreement along with a shareholders’ agreement, pending completion of specific conditions. Puneet Chhatwal, IHCL’s Managing Director and CEO, emphasized that the acquisition aligns with IHCL’s long-term vision of creating unique destinations and broadening its partnership with the Ambuja Neotia Group. This partnership already encompasses seven properties, including the Taj Chia Kutir in Darjeeling and Taj Guras Kutir in Gangtok, and continues to strengthen IHCL’s presence in India’s northeastern region.
In response to rising demand for experiential travel, IHCL plans to expand the ‘Tree of Life’ brand to 100 properties by 2030. Currently, the brand’s 19 resorts, including properties in Dehradun, Varanasi, Binsar, and Kumaon, offer guests stays in picturesque, lesser-explored locales. Two additional properties are under development, further positioning IHCL to cater to the evolving preferences of leisure travelers.
Speaking on the occasion, 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.
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 2under development.
In FY24, Rajscape Hotels reported a turnover of INR 23.44 crore, underscoring the financial potential of this new venture within IHCL’s portfolio.
