Indian Hotels Company Limited (IHCL) stands as South Asia’s most iconic and comprehensive hospitality ecosystem, with a legacy spanning over 120 years. Established in 1902, IHCL is deeply rooted in a commitment to excellence, sustainability, and service, pioneering a hospitality narrative that blends Indian tradition with global sophistication. With a vision to deliver unparalleled experiences across diverse segments, IHCL’s expansive portfolio now includes 309 operational hotels and an additional 72 in the pipeline across 12 countries. Its core strength lies in a multi-brand strategy comprising Taj, SeleQtions, Vivanta, Ginger, Tree of Life, Qmin, and others, designed to meet the preferences of a wide array of customers.
In FY 2024–25, the company recorded its third consecutive year of industry-leading performance, driven by robust demand, strong operating leverage, an expanding brand portfolio, and an asset-light growth model. Its flagship brand, Taj, has been rated as India’s Strongest Brand across all sectors for three years in a row. IHCL’s blueprint, “Ahvaan 2025,” and the broader vision, “Aspiration 2030,” highlight its goal to double revenue, triple profit, and significantly enhance its brand and market footprint.
1. Company Profile
Indian Hotels Company Limited (IHCL), a part of the Tata Group, is India’s largest hospitality company in terms of market capitalization. The company operates in the luxury, premium, midscale, and economy segments of the hospitality sector through a portfolio of brands. IHCL also manages heritage hotels, resorts, and safari lodges. It is headquartered in Mumbai, Maharashtra, and is listed on the BSE and NSE.
Company Facts
- Incorporated: September 1, 1902
- Registered Office: Mandlik House, Mandlik Road, Mumbai – 400001, India
- CIN: L74999MH1902PLC000183
- Stock Exchanges: BSE (500850), NSE (INDHOTEL)
- Parent Company: Tata Sons Private Limited
- Chairman: Mr. N. Chandrasekaran
- Managing Director & CEO: Mr. Puneet Chhatwal
- Number of Employees: Approximately 29,000
Vision and Mission
IHCL’s mission is to be South Asia’s most iconic and most profitable hospitality ecosystem, driven by purpose and values that honor its past and embrace the future. The company aspires to be a hospitality leader that is sustainable, customer-centric, and innovation-driven.
2. Company History
The story of IHCL began with the vision of Jamsetji Tata, who opened the Taj Mahal Palace in Mumbai in 1903. It was one of the first luxury hotels in India to offer electricity, American fans, German elevators, and Turkish baths. Over time, IHCL expanded its footprint with new properties in India and abroad.
Milestones:
- 1903: Taj Mahal Palace opens in Mumbai.
- 1974: Taj Exotica Resort opens in Goa.
- 1980: First international hotel opens in Yemen.
- 1982: St. James’ Court acquired in London.
- 2004: Launch of budget brand Ginger Hotels.
- 2018: Launch of SeleQtions brand.
- 2020: Launch of Qmin food delivery platform.
- 2021: Taj named India’s Strongest Brand.
- 2023: Launch of Tree of Life acquisition.
Over the years, IHCL has evolved from being a domestic hospitality provider to a global leader in the premium and luxury segments, with brands that resonate across geographies.
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3. Business Segments & Revenue Breakup
IHCL categorizes its operations into key segments: Hotels (Luxury, Premium, and Economy), Food & Beverage, and Hospitality Support Services.
Segment-wise Breakdown:
A. Luxury Hotels
- Operated under the brand Taj.
- Offers high-end accommodations, concierge services, gourmet dining, and spa facilities.
- Includes iconic properties like Taj Mahal Palace, Mumbai, and Taj Lake Palace, Udaipur.
- FY 2024–25 revenue contribution: approximately 55%
B. Premium Hotels
- Operated under SeleQtions and Vivanta brands.
- Focus on upscale hospitality with modern amenities and business facilities.
- Major properties include Vivanta New Delhi and SeleQtions The Connaught.
- FY 2024–25 revenue contribution: approximately 25%
C. Economy Hotels
- Operated under the Ginger brand.
- Budget-friendly accommodations focused on millennials and business travelers.
- Properties include Ginger Mumbai, Ginger Agartala.
- FY 2024–25 revenue contribution: approximately 10%
D. Food & Beverage (F&B)
- Restaurants and cafes such as Qmin, Shamiana, Golden Dragon, and Paprika.
- Focus on fine-dining, catering, and food delivery.
- FY 2024–25 revenue contribution: approximately 8%
E. Hospitality Support Services
- TajSATS Air Catering Ltd – premium in-flight and institutional catering.
- FY 2024–25 revenue contribution: 2%
Revenue Composition Table:
| Segment | Revenue Contribution (%) |
|---|---|
| Luxury Hotels (Taj) | 55% |
| Premium (Vivanta, SeleQtions) | 25% |
| Economy (Ginger) | 10% |
| Food & Beverage | 8% |
| Hospitality Support Services | 2% |
| Total | 100% |
4. Products & Services
IHCL’s diversified service offerings cover accommodation, wellness, food and beverage, event management, and travel experiences:
Accommodations
- Luxury: Royal suites, heritage rooms, club floors
- Premium: Deluxe rooms, business class services
- Economy: Smart rooms with essential amenities
Food & Beverage
- Signature restaurants like Golden Dragon, House of Ming, Masala Kraft
- Multi-cuisine dining outlets and specialty cafes
- Qmin: Home delivery platform for IHCL culinary experiences
Wellness & Lifestyle
- Jiva Spa – authentic Indian wellness treatments
- Fitness centers, yoga sessions, and personalized wellness programs
Events & Conferences
- Banquet halls, ballrooms, and boardrooms for MICE (Meetings, Incentives, Conferences, and Exhibitions)
- Wedding planning and luxury event hosting
Experiences
- Heritage walks, curated safaris, tea tastings, and river cruises under the Palaces & Safaris vertical
5. Brand Portfolio
| Brand | Segment | Description |
|---|---|---|
| Taj | Luxury | Flagship brand offering iconic properties and royal hospitality |
| SeleQtions | Premium | Hand-picked distinctive hotels with local flavor |
| Vivanta | Upscale | Contemporary hotels designed for business and leisure travelers |
| Ginger | Economy | Smart and lean design hotels for budget-conscious guests |
| Tree of Life | Heritage | Experiential hotels in unique natural and cultural settings |
| Qmin | Food Delivery | Digital platform offering curated gourmet meals from IHCL kitchens |
| ama Stays & Trails | Homestays | Private bungalows and villas in scenic locations |
| TajSATS | Services | Premium in-flight and institutional catering services |
Each brand targets a specific customer base, contributing to IHCL’s broad market coverage and brand equity.
6. Geographical Presence and Revenue Breakup
Indian Hotels Company Limited operates across 12 countries and 125+ cities worldwide, with a strong focus on expanding its domestic footprint while growing its global presence. The company has successfully leveraged India’s tourism and business travel potential, while its international assets help reinforce global brand recall.
India
India remains IHCL’s largest market, accounting for the majority of its operational and pipeline properties. Key cities include Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Kolkata, Goa, Jaipur, and Udaipur.
- Number of Hotels: 270+ (operational and pipeline)
- Revenue Contribution: 85%
International Markets
IHCL’s global presence includes hotels in major cities such as London, New York, Dubai, Cape Town, and Colombo.
- Number of Hotels: 30+ (operational and pipeline)
- Revenue Contribution: 15%
Region-wise Revenue Table:
| Region | Hotels (Oper. + Pipeline) | Revenue Contribution (%) |
|---|---|---|
| India | 270+ | 85% |
| Middle East | 10+ | 5% |
| Europe | 6+ | 4% |
| North America | 4+ | 3% |
| South Asia | 3+ | 2% |
| Africa | 1 | 1% |
| Total | 381 | 100% |
7. Financials: Consolidated Statements
7.1 Consolidated Profit & Loss Statement (₹ in Crores)
| Particulars | FY 2024–25 | FY 2023–24 |
|---|---|---|
| Revenue from Operations | 8,565.09 | 4,590.11 |
| Other Income | 473.80 | 387.65 |
| Total Revenue | 9,038.89 | 4,977.76 |
| Total Expenses | 5,716.03 | 4,203.28 |
| EBITDA | 3,322.86 | 1,561.47 |
| Depreciation & Amortisation | 484.65 | 467.98 |
| Finance Costs | 362.13 | 381.22 |
| Profit Before Tax | 2,476.08 | 712.27 |
| Tax Expense | 872.31 | 238.12 |
| Profit After Tax | 1,603.77 | 474.15 |
7.2 Consolidated Balance Sheet (₹ in Crores)
| Particulars | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Equity Share Capital | 142.05 | 142.05 |
| Other Equity | 10,783.63 | 9,408.12 |
| Total Equity | 10,925.68 | 9,550.17 |
| Non-Current Liabilities | 2,231.70 | 2,179.83 |
| Current Liabilities | 2,157.41 | 2,065.39 |
| Total Liabilities | 14,087.36 | 11,615.39 |
| Non-Current Assets | 9,701.27 | 8,683.98 |
| Current Assets | 4,386.09 | 3,231.41 |
| Total Assets | 14,087.36 | 11,615.39 |
7.3 Consolidated Cash Flow Statement (₹ in Crores)
| Particulars | FY 2024–25 | FY 2023–24 |
|---|---|---|
| Net Cash from Operating Activities | 2,983.71 | 2,014.98 |
| Net Cash used in Investing Activities | -1,219.80 | -1,203.09 |
| Net Cash used in Financing Activities | -360.59 | -740.30 |
| Net Increase / (Decrease) in Cash | -63.24 | 71.59 |
8. Subsidiaries, Wholly-Owned Subsidiaries and Associates
As of FY 2024–25, IHCL holds significant interests in a number of subsidiaries and associates, enabling expansion, operational control, and market penetration.
A. Major Wholly-Owned Subsidiaries
| Subsidiary Name | Jurisdiction | Ownership (%) |
|---|---|---|
| Piem Hotels Ltd | India | 100% |
| Roots Corporation Ltd (Ginger) | India | 100% |
| Sheena Investments Pvt Ltd | India | 100% |
| ELEL Hotels & Investments Ltd | India | 100% |
| Genness Hospitality Pvt Ltd | India | 100% |
| United Overseas Holdings Inc | USA | 100% |
| IH Hospitality GmbH | Germany | 100% |
| Demeter Specialities Pte Ltd | Singapore | 100% |
B. Joint Ventures
| JV Name | Country | Stake (%) |
|---|---|---|
| Taj GVK Hotels & Resorts Ltd | India | 25.52 |
| TAL Hotels & Resorts Ltd | Hong Kong | 27.60 |
| Taj Kerala Hotels & Resorts Ltd | India | 28.78 |
C. Associate Companies
| Associate Name | Country | Holding (%) |
|---|---|---|
| Oriental Hotels Ltd | India | 35.86 |
| Taj Madurai Ltd | India | 26.00 |
| Lanka Island Resorts Ltd | Sri Lanka | 24.66 |
9. Physical Properties
IHCL’s extensive portfolio comprises owned, leased, licensed, and managed properties, including luxury hotels, palaces, resorts, city business hotels, and wildlife lodges. These properties are located across urban centers, tourist destinations, and heritage sites.
Representative Property List
| Property Name | Location | Property Type | Notes |
|---|---|---|---|
| Taj Mahal Palace | Mumbai | Owned | Historic flagship property |
| Taj Lake Palace | Udaipur | Leased | Iconic lakefront heritage palace |
| Taj Falaknuma Palace | Hyderabad | Licensed | Restored royal palace |
| Vivanta by Taj | Bengaluru | Managed | Business-focused upscale property |
| Ginger Hotel | Pune | Owned | Economy hotel under Roots Corporation |
| SeleQtions The Connaught | New Delhi | Managed | Premium boutique hotel |
| Taj Exotica Resort & Spa | Goa | Owned | Leisure resort |
| Taj Cape Town | South Africa | Managed | International luxury hotel |
| St. James Court – A Taj Hotel | London, UK | Part-owned (JV) | High-end urban property |
| Ginger Statue of Unity | Gujarat | Owned (under development) | Near world’s tallest statue |
10. Founders
Jamsetji Nusserwanji Tata
Jamsetji Tata, the founding father of the Tata Group, laid the cornerstone of IHCL with his vision of establishing a grand hotel that could rival the best in the world. His dream materialized with the opening of the Taj Mahal Palace, Mumbai, in 1903.
- Born: March 3, 1839
- Founded IHCL: 1902 (incorporated)
- Vision: To bring world-class hospitality to India
- Legacy: Philanthropist, industrialist, and nation-builder
Jamsetji’s legacy lives on in IHCL’s enduring commitment to service excellence, sustainability, and national pride.
11. Board of Directors & Key Management Personnel
Board of Directors
| Name | Role | Designation |
|---|---|---|
| N. Chandrasekaran | Non-Executive Chairman | Chairman, Tata Sons |
| Puneet Chhatwal | Executive Director | MD & CEO |
| Ankur Dalwani | Executive Director | EVP & CFO |
| Farhad Bamji | Non-Executive Director | Partner, TATA Opportunities Fund |
| Nasser Munjee | Independent Director | Chairman, DCB Bank |
| Vibha Paul Rishi | Independent Director | Former CMO, PepsiCo |
| Mehernosh Kapadia | Independent Director | Former EVP, Finance at TCS |
Key Management Personnel
| Name | Position |
|---|---|
| Beejal Desai | EVP – Corporate Affairs & Company Secretary |
| Parveen Chander | EVP – Sales & Marketing |
| Vincent Ramos | Senior VP – Goa & West India |
12. Shareholding Pattern (as of March 31, 2025)
| Shareholder | Shareholding (%) |
|---|---|
| Tata Sons Pvt Ltd | 39.59 |
| Life Insurance Corporation of India | 7.20 |
| Mutual Funds | 9.85 |
| Foreign Institutional Investors | 20.34 |
| Public Shareholding & Others | 23.02 |
| Total | 100.00 |
IHCL’s shareholding structure reflects a robust institutional presence and strong promoter backing.
13. Parent Company
The parent company of Indian Hotels Company Limited is Tata Sons Private Limited, the principal investment holding company of the Tata Group. As of FY 2024–25, Tata Sons holds a 39.59% stake in IHCL and plays a strategic role in guiding the company’s long-term vision, governance, and business expansion.
14. Passive Investment Details
Indian Hotels Company Limited continues to make passive investments to support growth in hospitality-related services and to enter new adjacent categories:
| Entity Name | Nature of Investment | Stake (%) | Amount Invested (₹ Crores) |
|---|---|---|---|
| Genness Hospitality Pvt Ltd | Strategic Subsidiary | 100% | 40.00 |
| Qurio Hospitality Pvt Ltd | Strategic Subsidiary | 100% | 40.00 |
| Zarrenstar Hospitality Pvt Ltd | Minority Investment | 100% | 72.00 |
| IHOCO B.V. (Netherlands) | International Arm | 100% | 77.19 |
| Tree of Life Resorts | Acquired Hospitality | 100% | Confidential |
These investments are directed towards scaling innovative formats, expanding into new territories, and building new business lines.
15. Future Investment Plan
IHCL’s strategic roadmap, “Ahvaan 2025,” and long-term vision, “Aspiration 2030,” outline robust goals to double its revenue, expand its hotel network, and enhance profitability.
Strategic Targets:
- Revenue Goal: ₹15,000+ crores by 2030
- Hotel Portfolio: 700+ hotels (operational + pipeline)
- Management Fee Income: ₹1,000 crores
- Ginger Hotels: Double room inventory to 10,000+
- New Business Ventures: Qmin, ama Stays & Trails, Tree of Life to contribute 25% of revenues
- Sustainability: Achieve Net Zero by 2030
Key Projects in Pipeline:
- New Ginger hotels in key metro and tier-2 cities
- Expansion of Qmin into 20+ cities with delivery kitchens and cafes
- Luxury openings in international cities including Riyadh, Dhaka, and New York
- Renovation of existing heritage hotels under SeleQtions
Through these plans, IHCL aims to reinforce its leadership position in South Asia while establishing itself as a global benchmark in responsible luxury and hospitality innovation.
What is Indian Hotels Company Limited (IHCL)?
Indian Hotels Company Limited (IHCL) is India’s largest hospitality company, part of the Tata Group, operating luxury and economy hotels under brands like Taj, Vivanta, SeleQtions, and Ginger. Established in 1902, IHCL manages 381 hotels across 12 countries.
Which are the main brands under IHCL?
IHCL operates a multi-brand strategy that includes Taj (luxury), SeleQtions (premium), Vivanta (upscale), Ginger (economy), ama Stays & Trails (homestays), Qmin (food delivery), and Tree of Life (heritage resorts).
How many hotels does IHCL operate?
As of FY 2024–25, IHCL operates 309 hotels and has 72 hotels in its development pipeline, totaling 381 properties in 125+ cities across 12 countries.
Who is the founder of IHCL?
IHCL was founded by Jamsetji Nusserwanji Tata, the visionary industrialist and founder of the Tata Group. He established the iconic Taj Mahal Palace in Mumbai in 1903.
What are IHCL’s future investment plans?
IHCL plans to reach ₹15,000+ crores in revenue by 2030, expand to over 700 hotels, and grow its management fee income to ₹1,000 crores. Its brands Qmin, Tree of Life, and ama Stays & Trails are expected to contribute 25% of revenues.
What is the shareholding structure of IHCL?
As of March 2025, Tata Sons holds 39.59% of IHCL. Other shareholders include foreign institutional investors (20.34%), mutual funds (9.85%), LIC (7.20%), and public shareholders (23.02%).
What is IHCL’s flagship hotel?
The Taj Mahal Palace in Mumbai is IHCL’s flagship hotel and one of the most iconic heritage hotels in India, known for its historical significance and luxury hospitality since 1903.
Where does IHCL operate internationally?
IHCL has international hotels in regions such as the Middle East, the UK (e.g., St. James Court – A Taj Hotel, London), the US, South Africa, Sri Lanka, and Southeast Asia.
