IHCL and Ambuja Neotia Group Sign Agreement for 15 New Hotels

Indian Hotels Company Ltd (IHCL) and Ambuja Neotia Group have agreed to set up 15 new hotels across India. As per news reports, these properties will come up mainly in West Bengal, Sikkim, and Himachal Pradesh. The mix includes greenfield, brownfield, and conversion projects.

The new developments will include a Taj resort each in Sunderban, Darjeeling, Shimla and Rabong. There are also plans for SeleQtions hotels in Kolkata and Siliguri. A Tree of Life property is planned in Lataguri, along with Taj-branded villas in Darjeeling, Lataguri, Gangtok, and Raichak.

Investment for Expansion 

Ambuja Neotia Group is expected to invest up to ₹2,000 crore. Chairman Harshavardhan Neotia said most of the land for these projects is already owned by the group. Many of the projects are awaiting approvals, while a few are yet to start that process.

The estimated timeline for the completion of most of these projects is 5 to 6 years. IHCL Managing Director and CEO Puneet Chhatwal stated that at least half of the hotels are expected to be operational in under five years.

Growth in Room Inventory

Once completed, the 15 hotels will add over 1,000 rooms to the current partnership portfolio. At present, the IHCL–Ambuja Neotia partnership operates 28 hotels with around 1,500 rooms. This will take the total to 43 hotels under the alliance.

"Under this capital light arrangement, the total number of hotels (through the partnership with the Ambuja Neotia Group) will go from 28 to 43. What we estimate is 1,000-plus rooms will be added (by the new hotels) to an existing 1,500 rooms," IHCL Managing Director and CEO Puneet Chhatwal told PTI.

Read more: IHCL Q1 FY26 Earnings Results: Reported ₹2,102 Crore Revenue and 19% Profit Growth!

Capital-Light Agreement 

The projects will follow IHCL’s capital-light model, with ownership and investment coming from the Ambuja Neotia Group. IHCL will manage operations under its various hotel brands.

This development comes shortly after IHCL and Ambuja Neotia Group extended their partnership for the Tree of Life brand. The companies have been working together on several properties in the region.

IHCL Share Price Performance 

As of 11:13 AM on July 22, Indian Hotels Company share price was trading at ₹760.65, down 1.43%, 1.57% lower over the past 6 months, but up 22.62% over the past year.

Conclusion

The expanded partnership is focused on building hospitality infrastructure in eastern and northeastern India, with long-term investments and phased development planned over the next few years.

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