An economic downturn may be bad for demand, but not for building up assets in the hotels business. ITC is out to sign up properties that it will manage as tourist destinations to boost its hotels portfolio.
ITC runs different categories of hotels under the WelcomGroup umbrella — ITC Hotels, WelcomHotels, Fortune Hotels and WelcomHeritage —which cater to a wide range of travellers spanning luxury, budget and heritage segments.
“The global economic meltdown and 26/11 have both had an impact on tourism into India and like other chains, our hotels have also faced cancellations. However, things are looking up and we are happy to be adding more properties to our various categories of hotels,” Pawan Verma, senior executive vice-president, ITC Hotels Division, said.
ITC signed up with three new heritage properties — at Sandur valley in Karnataka, Sirsi near Jaipur and Naukichiatal district in Uttaranchal — on Tuesday.