ITC Hotels Enters West Bengal with New Storii Devasom Resort & Spa in Kolkata

ITC Hotels is an Indian hotel chain, which is a part of ITC Limited. With over 100 hotels, it is India’s third-largest hotel chain. It has a franchise agreement to operate most of its hotels as part of The Luxury Collection of Marriott International. It entered the hotel business on 18 October 1975 with the opening of a hotel in Chennai, which was renamed as Welcomhotel By ITC Hotels, Cathedral Road, Chennai.

ITC Hotel to enter West Bengal

On Monday, ITC Hotels announced its entry into West Bengal with the Storii Devasom Resort & Spa inaugurated in Kolkata. The property, spread across three acres, marks a significant addition to ITC Hotels’ portfolio in the region. This new launch aims to strengthen the brand’s presence in eastern India and enhance its offerings in West Bengal. According to ITC Hotels Chief Executive Anil Chadha, each of the company’s distinctive brands, including ITC Sonar, ITC Royal Bengal, and Brand Fortune, provides guests with a diverse selection of experiences. The Storii Devasom Resort & Spa is expected to further elevate these offerings.

ITC Hotel Business Demerger 

ITC approved the Scheme of Arrangement between ITC Ltd and ITC Hotels on August 14, 2023. The scheme mentions the issuing of equity shares by the resultant entity to the shareholders of the demerged counterpart. In a more specific way, for every 10 shares held in the company ITC Ltd, shareholders would be entitled to receive 1 share of ITC Hotels Ltd. 

The main point behind the demerger from the company is that the Hotel Business of ITC has been resilient and matured over the years and has the potential to make its growth path. As part of the demerger, ITC Hotels would be given a license to use the ‘ITC’ prefix as part of its corporate name.

Conclusion: The entry of ITC Hotels into West Bengal with the opening of Storii Devasom Resort & Spa in Kolkata marks a significant step in expanding its presence in eastern India. This new addition reinforces ITC’s commitment to offering diverse and high-quality hospitality experiences in the region. The stock of ITC Ltd. is currently trading flat at Rs.428.50 a piece.

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