NEWS | IHCL to set up hotel in China next year
Indian Hotels Company Ltd (IHCL) plans to set up its first luxury hotel in China next year. The company will be the first Indian hotel major to set foot in China, according to Raymond Bickson, Managing Director, IHCL while outlining the hotel chain's expansion plans in the country and overseas.
According to a report in The Hindu Business Line, IHCL plans to add a total of 13 hotels and 1,840 rooms in 2011-12. Bickson said that it also expects to add 19 hotels and 2,591 rooms in the next two years. Giving specifics on overseas expansion, Bickson said that the company plans to set up a 160-room Taj Palace hotel in Marrakech, Morocco by February 2012.
The company is also looking at other emerging economies to expand its presence. Singapore, Vietnam and Tokyo are still untapped regions for the company, according to Bickson. "Although IHCL has experienced some stress in the US, it hopes to turn around the operations in the next 14-15 months, he added.
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