ITC to pursue 'asset-right' strategy for its hotel business: Chairman
ITC Ltd would pursue the "asset-right" strategy for its hotel business to ensure that the diversified conglomerate remains competitive and contemporary, and continues to deliver superior performance, its chairman Sanjiv Puri said.
The Kolkata-based multi-conglomerate, which operates hotels under the brand names such as ITC and Welcome, also said that it is exploring foreign markets for its hospitality business, he said.
According to Puri, the tourism and hotel industry is recovering after pandemic and the company will take the demerger process forward and explore alternate structure.
"Once things are finalised and we have a final proposal we will share it," Puri told PTI when asked about the demerger of ITC hotel business.
On the company's plans to expand hotel operations overseas, he said they are "pursuing asset-right strategy sometime now and there are large number of hotels that have come in under Welcome hotels. The new brand called 'Storii' and 'Momentous' also will start ...