Shri Sanjiv Puri, Chairman of ITC Hotels Limited, delivered an inspiring address at the company’s first meeting following its historic listing on the stock exchanges, calling it a defining moment in the brand’s illustrious journey. He reaffirmed ITC Hotels’ commitment to its pioneering ethos of Responsible Luxury, a philosophy that blends world-class hospitality with sustainable practices, underscoring its role as a leader in “compassionate capitalism.” Emphasizing ITC Hotels’ strategic focus, agility, and long-term value creation, Puri expressed confidence in leveraging ITC’s institutional strengths to script a transformative growth story. Against a challenging global backdrop marked by geopolitical tensions, economic fragmentation, and climate change, he lauded India’s emergence as the fastest-growing large economy, fuelled by the Prime Minister’s Atmanirbhar Bharat vision. Highlighting the industry’s potential, he noted that India’s young demographic profile, rising incomes, infrastructure expansion, and diverse tourism offerings would propel the hospitality sector to new heights. In 2024, international visitor spends reached INR 3.1 trillion, while domestic travel spending touched INR 15.5 trillion 22% higher than pre-pandemic levels. The sector contributed 6.6% to the nation’s GDP, generating over 46 million jobs, and is projected to account for 10% of GDP with more than 100 million jobs by 2030.
Puri reported that ITC Hotels delivered a stellar performance with total income exceeding INR 3,300 crore and EBITDA margin expansion to 36%. The company signed 30 new management and franchise contracts, building a pipeline of 58 hotels with over 5,300 keys and is on track to surpass 200 hotels by 2030. ITC Hotels reinforced its global sustainability leadership with 23 LEED Platinum certified properties the highest number worldwide along with 12 hotels earning the world’s first LEED Zero Carbon certification and 9 with the LEED® Zero Water distinction. The brand also won the 2024 US Green Building Council Leadership Award for Organizational Excellence and has surpassed its 2030 GHG emission targets for five years in a row in alignment with the Paris Agreement. Currently operating over 140 hotels across 90 locations under six distinct brands ITC Hotels, Mementos, Welcomhotel, Storii, Fortune, and WelcomHeritage the company is expanding into Tier 2 and 3 cities and nearby international markets, with ITC Ratnadipa in Colombo marking its first overseas venture and a presence established in Nepal. ITC Hotels’ celebrated restaurants, including Bukhara, Avartana, Dum Pukht, Yi Jing, Ottimo, and Royal Vega, continue to earn acclaim both nationally and globally. Looking ahead, Puri outlined plans to operate 220 hotels with over 20,000 keys by 2030, guided by an “asset-right” strategy, investments in AI-driven digital transformation, and a focus on enhancing guest experiences. Concluding his address, he commended the ITC Hotels team for upholding the Indian hospitality philosophy of Atithi Devo Bhava and thanked shareholders, partners, and guests for their steadfast trust and support, affirming the company’s dedication to a legacy built on trust, innovation, and sustainable excellence.
