Indian hospitality company ITC Hotels has revealed plans to foray into international markets and focus on expansion in Southern India, reported The Times of India.  

On the verge of being spun off from its parent company ITC, the hospitality company is looking to establish a presence in multiple locations near India. 

It plans to debut internationally with ITC Ratnadipa in Colombo, Sri Lanka. 

ITC’s ‘asset right’ strategy, which focuses on expanding its management portfolio, has allowed it to launch 24 properties in the past two years.  

In addition, the company introduced two new brands during the Covid-19 pandemic, Storii and Mementos, which have experienced swift expansion.  

This includes the opening of Jaipur city’s second luxury Mementos property by the end of this month. 

Meanwhile, the company has signed a management agreement with Narne Hotels and Resorts to establish a property under the Welcomhotel brand at Coorg, Karnataka. 

To be located in the hill town of Madikeri, the property will have 150 rooms, two restaurants and bars, a lounge and more than 1,300m² of meeting space.

ITC Hotels divisional chief executive Anil Chadha said: “Madikeri is an important market for ITC Hotels. Over recent years, this region has grown in popularity and we saw a niche space for leisure travel.” 

“With this signing, ITC’s Hotel group further strengthens its presence in Karnataka, where we currently operate 11 hotels and over 1,300 rooms under various brands including ITC Hotels, Welcomhotel, Fortune and Welcomheritage.” 

This comes after the company announced plans to increase its hotel room inventory by 50% over the next five years, targeting to have 200 hotels with 18,000 keys in December last year. 

It expects two-thirds of the new inventory to be in the managed portfolio by 2028.