NEWS| ITC Ltd plans to invest USD two billion in hotel business

According to a report in Reuters, ITC Ltd., a multi─business conglomerate, which has a diversified in hotels, specialty papers, packaging, paperboards, agricultural business and cigarettes, is not interested in a hostile takeover of hotel chains like EIH Ltd. and Hotel Leela. ITC Ltd. is looking at minority partnerships in some hotel projects.

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During the next five years, ITC Ltd plans to invest about USD two billion in its hotels business. ITC Ltd has a stake of 14.98 per cent in EIH, which runs the Oberoi and Trident chain of hotels and has a 3.72 per cent stake in Hotel Leela through its investment unit Russel Credit.

Editor | Maybe its time for them to buy into Indian Hotels too!!  What do you think?

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