Hotels posted impressive performance during the year with segment revenues growing by 26%.

The Company’s Hotels business posted yet another impressive performance during the year with segment revenues growing by 26%. The year marked a significant development for the Company’s Hotels business with ITC-Welcomgroup entering a new phase in its collaboration with Starwood Hotels & Resorts through a new franchise agreement. As per the agreement, ITC-Welcomgroup will have an exclusive partnership with Starwood to bring in its premium brand, ‘The Luxury Collection’, to India. Seven ITC-Welcomgroup hotels have joined the list of exclusive properties world-wide that are part of Starwood’s ‘Luxury Collection’.

Construction activity in respect of the new super-deluxe luxury hotels at Bengaluru and Chennai is progressing as per plans.