Indian Hotels Company Ltd (IHCL), the hospitality arm of the Tata Group and parent of Taj Hotels, has signed a strategic agreement with the Kolkata-based Ambuja Neotia Group to develop 15 new hotels across India. The new properties will be located in states including West Bengal, Sikkim, and Himachal Pradesh, and are expected to be completed over the next three to seven years.
The partnership will include a mix of greenfield, brownfield, and conversion projects. Select developments will feature Taj-branded villas in destinations like Darjeeling, Sikkim, Lataguri, and Raichak, further strengthening IHCL’s presence in leisure and experiential travel markets.
Ambuja Neotia Group Chairman Harshvardhan Neotia confirmed an estimated investment of INR 2,500 crore into the projects, financed through a combination of debt, internal accruals, and potential future fundraising.
The deal builds on the two companies’ long-standing collaboration and comes as IHCL aims to double its hotel portfolio to over 700 properties and grow consolidated revenue to INR 15,000 crore by 2030. The expansion is part of IHCL’s ambitious Vision 2030 roadmap to scale operations and deepen its footprint in high-potential markets across India.
source: Business Standard
