The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company, today announced a strategic partnership with Singapore’s sovereign wealth fund, GIC for an investment Platform to the tune of Rs. 4000 crores or USD 600 million over a period of three years. This Platform will be used to acquire fully operational hotels in the Luxury, Upper Upscale and Upscale segments in India.
This Platform will look at potential hotel assets primarily located in key lodging markets in India.
Key highlights of the Platform for IHCL are:
- IHCL will be able to pursue acquisitions in an asset-light format, with the equity contribution from IHCL at 30% and the balance 70% contributed by GIC.
- Each acquisition is intended to be in a separate SPV with its own funding.
- The hotels acquired will be managed by IHCL under its various brands and complement the company’s current growth aspirations via Management Contracts.
About The Indian Hotels Company Limited (IHCL)
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the hallmark of iconic hospitality, SeleQtions, a named collection of hotels, Vivanta, sophisticated upscale hotels and Ginger which is revolutionizing the lean luxe segment.
