IHCL Expands Partnership with CG Hospitality Through Ekyam Platform

On May 9, 2024, Indian Hotels Company Limited (IHCL) informed the exchanges that the company had partnered with CG Hospitality, extending its existing alliance of TAL Hotels & Resorts Limited and Taj Safaris Limited. Through the platform Ekyam, Indian Hotels Company Limited aims to reach a portfolio of 25 hotels by 2025, focusing on adventure destinations in the Greater Himalayas, wildlife sanctuaries and the Indian Ocean.

The existing operational presence in the Indian Subcontinent and the Middle East comprises Taj Exotica Resort & Spa and Taj Coral Reef Resort & Spa in the Maldives, Taj Samudra in Colombo, Sri Lanka, Taj Jumeirah Lakes Towers in Dubai, and Taj Safaris, luxury wildlife lodges in India and Nepal.

Commenting on the collaboration, the Managing Director and Chief Executive Officer of IHCL, Puneet Chhatwal, said, “IHCL has a long-standing association with CG Hospitality, a member of the renowned CG Corp Global for over two decades. We are delighted to announce that the next phase of this partnership will pursue accelerated growth in the Indian Subcontinent. This collaboration under the platform – Ekyam will explore opportunities to manage hotels across regions around the Himalayas as well as the Indian Ocean and strengthen the wildlife sector.”

The MD of CG Hospitality, Mr Rahul Chaudhary, said, “The platform will commence with the current portfolio of 11 operating hotels. CG Hospitality has invested over ₹1,250 crore in the operational and upcoming hotels thus far and is committed to onboard 14 more hotels under this partnership.”

The company stated that Mr Ram Maheshwari, Vice President Commercial will take forward the vision and lead the platform to a portfolio of 25 hotels with 2,500 rooms by 2025.

Dr Binod Chaudhary, the Chairman of CG Corp Global, stated that they are proud of CG Hospitality’s 25-year collaboration with Tata Group’s IHCL. They are confident and have trust in IHCL’s century-old legacy, which is globally recognised as the benchmark in Indian hospitality.

On May 9, 2024, the share price of Indian Hotels Company Ltd opened at ₹564.90, touching the day’s low at ₹555.00, as of 12:50 PM on the NSE.

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