Part of ITC
ITC Hotels
ITC Hotels is expanding fast, with Q1 FY27 revenue up 15% year on year to ₹936 crore and net profit up 36% to ₹182 crore, and it targets 251+ hotels and 22,000 rooms by 2031 (Mint, 26 Sept). Domestic air traffic fell 6.3% YoY to 12.1 million in August (Business Today, 5 Oct).
What it means Rival hotel groups face a managed-contract competitor now signing resorts such as the 227-key Karjat property.
Latest moves
Our read of each move first, where we have one; what the report said is marked Reported.
- Reported: ITC Hotels signed a management agreement for a 104-key Welcomhotel in Manesar, Gurugram, so other NCR hotel operators now compete with a property offering over 18,000 sq. ft. indoor banqueting and 22,000 sq. ft. outdoor event space.Reported: ITC Hotels has signed a management agreement for a 104-key Welcomhotel in Manesar, Gurugram, extending its asset-right growth strategy in the NCR. The property will have more than 18,000 sq. ft. of indoor banqueting space and 22,000 sq. ft. of outdoor event space.Watch: An opening date for the 104-key Manesar hotel before the next ITC Hotels results would mean construction is advanced, putting NCR banquet rivals on a clock.
- Reported: ITC Hotels signed a management agreement, not an ownership deal, for 227 keys in Karjat, so it adds fee-based, asset-light growth to the Mementos brand, though the signal gives no fee terms, opening date or investment figure.Reported: ITC Hotels has signed a management agreement with Arihant Super Structures for Mementos by ITC Hotels Karjat, a 227-key luxury resort in Maharashtra.Watch:
Background
From 4 stories, the newest dated 8 Oct 2026. Summary written 10 Oct 2026. Newer developments are under Latest moves.
ITC Hotels is an Indian hotel operator that runs Storii by ITC Hotels, a boutique retreat brand spread across emerging leisure destinations. [1] source: ET Hospitality
Show 3 more paragraphs and 4 sources
It has 156 operational hotels across 90+ destinations and is pursuing asset-light expansion through management contracts and franchising. [2] source: Mint
In October 2026, ITC Hotels signed the 30-key Storii Sanjay Dubri wildlife retreat in Sidhi district, Madhya Pradesh, which it will operate under a management contract with Sal Tree Resorts. [1] source: ET Hospitality Mint reported in September 2026 that ITC Hotels is targeting more than 251 hotels and 22,000 rooms by 2031, with total rooms rising from 14,300 to 22,000. [2] source: Mint Owned rooms are projected to rise from 5,700 to 7,500, and the managed portfolio is targeted at 15,000 rooms from 8,600. [2] source: Mint Q1FY27 revenue was ₹936 crore, up 15% YoY, and profit increased 36%. [2] source: Mint ITC Hotels also acquired a Kumarakom resort and signed eight hotels. [2] source: Mint
In October 2026, JM Financial named Leela, Lemon Tree and ITC Hotels as preferred picks and cited ITC Hotels revenue growth of around 15%. [3] source: Mint Elara Capital also said it prefers Lemon Tree Hotels and ITC Hotels in the short term. [4] source: Business Today
Sources
Questions about ITC Hotels
What are ITC Hotels' expansion plans?
ITC Hotels signed the 30-key Storii Sanjay Dubri wildlife retreat in Sidhi district, Madhya Pradesh, in October 2026, and Mint reported in September 2026 that it acquired a Kumarakom resort and signed eight hotels. [1] source: ET Hospitality[2] source: Mint
How many ITC Hotels stores are there?
ITC Hotels had 156 operational hotels across 90+ destinations, as reported by Mint in September 2026. [2] source: Mint
How fast is ITC Hotels growing in India?
ITC Hotels reported Q1FY27 revenue of ₹936 crore, up 15% year on year, and profit that increased 36%, according to Mint in September 2026. [2] source: Mint
What is ITC Hotels' current strategy in India?
ITC Hotels is pursuing asset-light expansion through management contracts and franchising, targeting more than 251 hotels and 22,000 rooms by 2031 (September 2026). [2] source: Mint In October 2026 it signed the 30-key Storii Sanjay Dubri retreat under a management contract with Sal Tree Resorts. [1] source: ET Hospitality
Who are ITC Hotels' main competitors?
JM Financial named Leela, Lemon Tree and ITC Hotels as preferred picks in October 2026, and Elara Capital named Lemon Tree Hotels and ITC Hotels as its short-term preferences. [3] source: Mint[4] source: Business Today
More stories about ITC Hotels
- ITC Hotels evaluates Dubai management contracts as it targets 250 properties by 2031
- ITC Hotels targets 250 properties and 22,000 keys within five years
- ITC Hotels Q1FY27 net profit jumps 36% to Rs 182 cr, revenue up 15% to Rs 936 cr
- ITC Hotels, Devyani, VIP, Arvind among 145 firms posting Q4FY26 results today
Stories that mention ITC Hotels
3 stories
ITC Hotels is named in these stories but is not their subject.