Indian Hotels shares rose 2% in early trade as the firm proclaimed signing contracts for 11 hotels and opening five new hotels across destinations during the April-June quarter.

With this development, the country’s largest hospitality firm has prolonged its portfolio to 270 hotels. Not just that, the existing portfolio also places the company on track to accomplish its vision of over 325 hotels by 2025.
At 9:22 am, Indian Hotels shares were trading 1.75% higher at Rs 391.90 on the NSE.

This fiscal, Indian Hotels will be stepping into new parts like Tawang in Arunachal Pradesh, Gangtok in Sikkim, Jaisalmer in Rajasthan and adding to its collection in Mumbai, National Capital Region (NCR), Kolkata, Ahmedabad, Srinagar, Tirupati, Ranthambore among others.

Currently, 70% of Indian Hotels’ pipeline is fee-based, while 7% is owned, and the residual 23% is under operating leases for the Ginger brand.

Brokerage firm Motilal Oswal Financial Services preserves a positive view for Indian Hotels’ strong pipeline of 10,145 rooms (~48% of operative portfolio) attached to the rapid scaling of the re-imagined new productions, which it expects to whittle a diversified growth path for the company going ahead.