Over the past few years, the hospitality industry has evolved remarkably due to digitisation and various acquisitions and mergers. Today, the industry’s focus is on fulfilling the increasing demands of its customers. Whether it be a business or a leisure traveller, the expectations go way beyond just a comfortable stay. They are looking for an unforgettable experience. At The Indian Hotels Company Limited (IHCL), we are very excited about our prospects as we consolidate our position to welcome the traveller of tomorrow.KNOW MORE
IHCL is South Asia’s largest and finest Indian hospitality companies founded by the legendary Jamsetji Tata in 1899. It opened its first property – now called The Taj Mahal Palace – in Mumbai in 1903. The Company and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service.
To create value by operating the best-in-class portfolio of hospitality brands in India and select overseas destinations
I am happy to present to you the Annual Report of The Indian Hotels Company Limited (IHCL) in a year we have done well and my first as its Managing Director and Chief Executive Officer.
Our pivotal programme, Aspiration 2022, is based on the three-pronged strategy of re-structuring, re-engineering and re-imagining the Company’s portfolio. The strategy is aimed at margin enhancement and growth to fulfil our aspiration of becoming the most iconic and profitable hospitality company in South Asia. Therefore, it will focus on exploring new markets, expanding existing properties, monetising non-core assets, optimising costs and simplifying the group structure to grow the bottom line. The five-year programme will also include leveraging the digital channel to strengthen the brand and generate more revenue.
One of the key aspects of Aspiration 2022 involves reimagining our brandscape. The intent is to build on the opportunities across luxury, upscale, midscale and economy categories, which are the growth drivers for tomorrow. IHCL has market equity as the largest hospitality company in the subcontinent, with true Indian origins, and it resonates with investors and partners. As the parent brand, IHCL can go beyond the current offerings, ranging from luxury palaces to budget hotels and other B2B verticals such as TajSATS.
It can help unlock the equity of ‘nestled’ brands such as Khazana, Jiva and Food & Beverage (F&B) brands. It can also create new business drivers such as shared economy models and go beyond the traditional offerings. Further, it can fuel growth by attracting partners and talent for IHCL as a group and therefore, broad base the impact that it can generate.
To define our personality as a distinct identity and to eliminate the overlap between the umbrella entity and its brands, we have undergone a makeover that is both contemporary while retaining our legacy.KNOW MORE