IHCL Expands Its Partnership With CG Hospitality, To Grow Its Portfolio In The Indian Subcontinent

MUMBAI, MAY 9, 2024: Indian Hotels Company (IHCL), India’s largest hospitality company, today announced a strategic partnership with CG Hospitality, extending its current association of TAL Hotels & Resorts Limited and Taj Safaris Limited to achieve a portfolio of 25 hotels by 2025. Ekyam, the platform will primarily pursue opportunities in destinations that offer adventure experiences across the Indian Ocean and Greater Himalayan regions and wildlife escapes.

“IHCL has a long-standing association with CG Hospitality, a member of the renowned CG Corp Global for over two decades. We are delighted to announce that the next phase of this partnership will pursue accelerated growth in the Indian Subcontinent. This collaboration under the platform – Ekyam, will explore opportunities to manage hotels across regions around the Himalayas as well as Indian ocean and strengthen the wildlife sector.”

Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL

The current operating footprint in the Indian Sub-Continent and Middle East includes Taj Exotica Resort & Spa, Taj Coral Reef Resort & Spa in Maldives, Taj Samudra, Colombo, Sri Lanka, Taj Jumeirah Lakes Towers, Dubai and Taj Safaris, the wildlife luxury lodges in India and Nepal.

‘The platform will commence with the current portfolio of 11 operating hotels. CG Hospitality has invested over INR 1,250 crores in the operational and upcoming hotels thus far and is committed to onboard 14 more hotels under this partnership.”

Rahul Chaudhary, MD of CG Hospitality

“We are proud of CG Hospitality’s partnership with Tata Group’s IHCL, spanning 25 years. This expansion underscores the confidence and trust we place in IHCL’s century old legacy which is globally recognised as the benchmark in Indian hospitality.”

Binod Chaudhary, Chairman, CG Corp Global

Taking forward the vision, Ram Maheshwari, Vice President Commercial will lead the platform to a portfolio of 25 hotels with 2,500 rooms by 2025.

ABOUT CG CORP GLOBAL

With a prolific history of over 140 years, CG Corp Global is Nepal’s only Multi - National Conglomerate. CG’s business interests include the largest Bank in Nepal and Union Bank in Sri Lanka under its Financial Services arm, the renowned noodles brand, ‘Wai Wai’, under its FMCG arm and investments across verticals namely Education, Hospitality, Energy, Cement, Infra & Power, Consumer Electronics, Real - Estate, Motors, Telecom, to name a few. The group has a strength of over 20,000 employees across 35 Countries in 5 Continents Globally. CG also prioritizes initiatives in the ESG space through the Chaudhary Foundation.

To learn more - www.cgcorpglobal.com

ABOUT CG HOSPITALITY GLOBAL

With a remarkable history spanning two decades, CG Hospitality Global made it’s beginning by investing with Tata Group’s IHCL in Taj Exotica Resort & Spa and Taj Coral Reef in Maldives and Taj Samudra in Colombo. This partnership has grown to 11 iconic properties in operation in 5 Countries including Taj Safaris in India & Nepal and Taj JLT Dubai and with 7 more properties under development and opening soon, also in Bhutan.

CG Hospitality also has successful joint ventures with other esteemed partners and leading brands globally like Fern Hotels in India, Jetwing Hotels & Ceylon Hotels Group in Sri Lanka, Radisson in NYC, Fairmont Hotels in Kenya. CG Hospitality also has its own house of brands such as the iconic wellness retreat, The Farm in Philippines, Zinc, Fern and Beacon. Today, CG Hospitality's portfolio boasts over 178 Hotels & Resorts in 12 countries and 114 destinations with over 10,000 keys. Focused on our ‘Vision 2025’, its portfolio is expected to grow to over 200 hotels globally.

To learn more: www.cghospitalityglobal.com

About The Indian Hotels Company Limited

The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as India’s Strongest Brand 2023 as per Brand Finance; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment.

Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 311 hotels including 91 under development globally across 4 continents, 13 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is listed on the BSE and NSE.

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