Tata Sons Eyes Bright Future with Expanding Hotel Footprint
Tata Sons Chairman N Chandrasekaran expresses optimism about India's travel sector growth, aiming for 700 hotel global footprint by 2030. He mourns recent losses, including the passing of Ratan Tata. Despite economic challenges post-Covid, India's service sector shows resilience, with foreign travel increasing and significant financial gains in IHCL's performance.
- Country:
- India
Tata Sons Chairman N Chandrasekaran projected a robust future for India's travel sector, banking on rising domestic consumption to fuel growth. Addressing the Indian Hotels Company Limited's (IHCL) Annual General Meeting, he outlined the goal to expand the global hotel footprint to 700 properties by 2030 and double revenues.
Chandrasekaran paid tribute to victims of a recent Air India crash and mourned Tata Group icon Ratan Tata, who passed away last October, lauding his leadership and philanthropic legacy. He highlighted India's resilience amidst global economic shifts post-pandemic, noting recovery in the services sector and rising foreign travel.
IHCL's financial achievements were spotlighted, with notable fiscal performance and plans for future expansion. In 2024-25, 74 new hotels were added, totaling 380 properties. The company reported Rs 5,145 crore in standalone revenue and Rs 1,430 crore profit after tax, underscoring a strong financial position with significant cash reserves.
- READ MORE ON:
- Tata Sons
- Chandrasekaran
- travel sector
- growth
- hotels
- IHCL
- Ratan Tata
- India
- economy
- revenue
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