IHCL acquires majority stake in Tree of Life Resorts, plans major expansion
Updated – November 06, 2024 at 01:35 PM.
IHCL plans to expand the Tree of Life portfolio from its current 19 properties (plus 2 under development) to 100 properties by 2030
CHENNAI, TAMIL NADU, 17/05/2024 : Puneet Chhatwal Managing Director and Chief Executive Officer of Indian Hotels Company Limited (IHCL). Photo : B.Jothi Ramalingam / The Hindu
| Photo Credit:
JOTHI RAMALINGAM B
The shares of The Indian Hotels Company Limited (IHCL) were trading at ₹682.55 up by ₹14.55 or 2.18 per cent on the NSE today at 11.55 am.
The Indian Hotels Company Limited (IHCL) announced the acquisition of a majority stake in Tree of Life’s operating company, partnering with the Ambuja Neotia Group yesterday November 5. The move strengthens IHCL’s position in the experiential leisure segment.
IHCL plans to expand the Tree of Life portfolio from its current 19 properties (plus 2 under development) to 100 properties by 2030. The brand operates in over 15 destinations, including off-beat locations such as Dared, Dehradun, Varanasi, Binsar, Kumaon, and Udaipurwati.
The acquisition deepens IHCL’s existing partnership with Ambuja Neotia Group, with whom it already collaborates on seven hotels and resorts, including the Taj Chia Kutir in Darjeeling and Taj Guras Kutir in Gangtok.
Puneet Chhatwal, Managing Director & CEO of IHCL, cited growing demand for experiential leisure as a key factor in the acquisition. The deal aligns with IHCL’s strategy of expanding existing partnerships and scaling new hospitality formats.
IHCL, founded by Tata Group’s Jamsetji Tata, currently manages a portfolio of 350 hotels, including 118 under development, across 13 countries. The company operates various brands including Taj, SeleQtions, Vivanta, Gateway, and Ginger, in addition to the newly acquired Tree of Life brand.
The Tree of Life brand is known for offering tranquil escapes that showcase authentic Indian experiences in boutique settings.
