ITC looks to expand in neighbouring countries

Diversified conglomerate ITC Ltd is looking to expand its footprints in hotel segment in the countries adjacent to India. "The Nepal subsidiary is looking at some opportunities. We can look at countries adjacent to India... Ideally these would be countries where ITC has a brand value and there is a tourist inflow from India," company's new Chairman and Managing Director Sanjiv Puri said after the inauguration of its super premium luxury hotel ITC Royal Bengal in Kolkata.

According to him, the group would focus more on managed properties as it is looking more on leveraging its experience in helping others manage their hotel properties.

The WelcomHotel brand is re-launched to focus more on managed properties, Puri said adding that 13-14 hotels are expected under the brand over the next few years.

Asked about its Colombo project in Sri

Lanka, he said the hotel is expected to go onstream by the end of next fiscal and there is no change in timeline in view of the recent disturbances. Built with an investment of Rs 1,400 crore, the 456-keys ITC Royal Bengal, adjacent to its ITC Sonar in the eastern metropolis is one of the largest properties for the company.

According to Puri, the group has lined up Rs 1,700 crore of additional investments in the state for setting up a personal care manufacturing facility and for capacity and technical upgrade of existing units.

"We are optimistic about West Bengal", he said. This investment comes on the back of Rs 4000 crore investment in setting up new food processing facilities and augmenting existing units.