The Indian Hotels Company Ltd (IHCL) reported signing 20 new hotels during the April-June quarter, a move that has kept its shares in focus among investors tracking the hospitality sector's growth trajectory.
The company stated that these additions are part of its ongoing efforts to expand its portfolio under the 'Accelerate' strategy.
12% stake in Ikeja Hotel Plc, marking a significant expansion into the Nigerian hospitality sector.
This initiative aims to bolster IHCL's market presence and diversify its asset base across key locations.
The announcement comes as the broader hospitality industry sees increased activity, with other players also making strategic moves.
For instance, Honeywell Group recently acquired a 14.12% stake in Ikeja Hotel Plc, marking a significant expansion into the Nigerian hospitality sector.
Additionally, Bank Asia PLC signed a strategic partnership with Crowne Plaza Dhaka Airport, an IHG Hotels & Resorts property, to enhance lifestyle offerings.