ITC has already announced the demerger of its hotels business. As part of the scheme, ITC Hotels will become a separate entity which will get listed on the bourses. Shareholders of ITC Limited will be given the shares of the ITC Hotels if they own the stock as on the record date which would be announced later. Ratio for the demerger has already been declared.
The ITC Hotels Demerger Ratio is that for every 10 shares held in ITC Limited, eligible shareholders would be entitled to receive 1 share of ITC Hotels Limited. ITC Hotels demerger record date will be announced by the company in the due course to determine the eligibility of ITC Limited shareholders’ to whom the shares of the demerged company will be issued.
In an investors’ presentation, ITC revealed its plans for the hotels business. It currently owns 140 hotels with around 13,000 keys. The company is eyeing to take this number to 200+ with 18,000+ keys. ITC Hotels are present in 90+ destinations and is recognised as the greenest hotel chain in the world. The company owns 6 distinct hotel brands – ITC Hotels, Mementos, Welcomhotel, Storii, Fortune, WelcomHeritage.
The Hotels business of ITC recorded a 15 per cent YoY jump in the July-September 2024 quarter to Rs 3103 crore while a 25 per cent rise in its EBITDA to Rs 1066 crore.
ITC unveiled 28 managed hotels in the past 24 months i.e. from November 2022 to October 2024. It is eyeing opening > 1 hotel per month for next 24 months. “Targeting 200+ hotels with 18000+ keys over 5 years, with 2/3rd salience of Managed Portfolio,” ITC said.
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