The Indian Hotels Company (IHCL), India’s largest hospitality enterprise, has entered into a landmark strategic partnership, signing definitive agreements to acquire a controlling stake in ANK Hotels Pvt. Ltd. and Pride Hospitality Pvt. Ltd., along with a distribution agreement with Brij Hospitality Pvt. Ltd. The promoters of these companies, with decades of industry experience, hail from the illustrious Clarks Hotels family. This move boosts IHCL’s portfolio to over 550 hotels nationwide.
Speaking on the milestone, Puneet Chhatwal, Managing Director & CEO, IHCL, said:
“India’s hospitality sector has witnessed sustained demand momentum over the last three consecutive fiscal years, reflective of the country’s growing economic prominence and rising discretionary spends. The outlook for the sector remains buoyant as demand outpaces supply and India continues to be an under-served hospitality market, especially in the mid-market segment. Our partnership with ANK, Pride and Brij Hospitality is a multi-pronged approach addressing India’s heterogeneous market landscape and is in line with IHCL’s five-year roadmap ‘Accelerate 2030’ of unlocking India’s tourism potential.”
He further added:
“Furthering IHCL’s leading presence in the midscale segment with the successful transformation of Ginger, this partnership doubles our portfolio with 240+ hotels addressing the growing needs of the aspirational traveller. Expanding our brandscape, the strong brand equity of Brij Hotels in India’s cultural and historical centres extends our offering in the experiential boutique luxury segment. With their rich legacy and hospitality expertise, the key managerial personnel of ANK, Pride and Brij Hospitality will continue to oversee the running of the respective companies, thereby providing business continuity and also enabling future growth of the companies.”
Portfolio Highlights:
- ANK Hotels Pvt. Ltd. & Pride Hospitality Pvt. Ltd.: A combined portfolio of 135 hotels in the midscale segment, spread across 110 locations and currently operating under The Clarks Hotels & Resorts banner. Over the next few months, these will be integrated operationally into IHCL’s ecosystem, predominantly under the Ginger brand and other suitable banners.
- Brij Hospitality Pvt. Ltd.: Operates 19 boutique luxury hotels in experiential leisure destinations, enhancing IHCL’s presence in culturally rich and historically significant locations.
The partnership operates under an asset-light model through management contracts and select operating leases, aligning with IHCL’s growth strategy. By consolidating mid-market offerings and enhancing its boutique luxury segment, IHCL reinforces its market leadership and positions itself for accelerated growth in one of the world’s fastest-growing hospitality markets.
