Indian Hotels Expands Horizons with Majority Stake in Tree of Life

  • 8th Nov 2024
  • 1283
  • 0
Indian Hotels Expands Horizons with Majority Stake in Tree of Life

In a strategic move to broaden its hospitality portfolio, Indian Hotels Company (IHCL) has taken a significant 55% stake in Tree of Life Resorts & Hotels, solidifying its foothold in the growing leisure travel sector. This acquisition aligns with the Tata Group’s ongoing vision to elevate its presence in India’s flourishing hospitality industry.

A Major Agreement for New Ventures

According to a regulatory filing, IHCL’s board approved a share subscription and purchase agreement alongside a shareholders' agreement, ensuring a majority stake in Rajscape Hotels, the parent company of Tree of Life. This acquisition, valued at up to ?18 crore, signals IHCL’s intent to leverage emerging trends in experiential travel.

Commitment to Scaling Boutique Experiences

Puneet Chhatwal, IHCL’s MD and CEO, shared that this deal reflects the company’s pioneering spirit and its commitment to developing distinctive destinations. This investment, he added, is consistent with IHCL’s growth strategy, which focuses on both innovation and partnership expansion.

A Vision for 2030 and Beyond

Chhatwal further highlighted IHCL’s ambitious plans to expand Tree of Life to 100 properties by 2030, catering to an increasing demand for unique leisure experiences. Currently, Tree of Life has resorts in over 15 sought-after destinations, including Dared, Dehradun, Varanasi, Binsar, and Udaipurwati.

Ambuja Neotia Group Elevates Its Partnership with IHCL

Harshavardhan Neotia, chairman of the Ambuja Neotia Group, emphasized that this transaction has deepened their relationship with IHCL. He expressed confidence in IHCL’s expertise in cultivating distinctive boutique properties, reinforcing India's presence in global tourism with high-quality hospitality.

Growing the Tree of Life Brand Together

The Tree of Life collection now includes 19 operating resorts and hotels, with two more under development. Earlier this year, IHCL announced its expansion through a strategic partnership with Ambuja Neotia Group, which initially acquired the boutique chain Tree of Life late last year.


Recommended Topics

Author

Pradeep Dhuri

Pradeep Dhuri is a graphic designer, health enthusiast, video creator, and editor with a continuous desire to learn and develop. He is driven by an ambition to produce better things every day and to contribute to the world's betterment. He also utilises his talent for writing to explore fascinating ... read more


Comments

Add Comment

No comments yet.

Add Your Comment
bvr64

Relevant Blogs

Hotels
Elevating Hospitality Leadership - Atmosphere Core Welcomes Two Visionaries

Atmosphere Core strengthens its leadership team with the appointment of Alain Trefois as General Manager of OBLU NATURE Helengeli by SENTIDO and Moham

Hotels
Hokkaido's Luxury Gem, The Windsor Hotel TOYA, Joins IHG's Vignette Collection

The Windsor Hotel TOYA Resort & Spa, perched above Lake Toya and the Pacific Ocean, has joined IHG's Vignette Collection, blending Hokkaido's rich

Hotels
Crafting Sweet Excellence - Mohammed Saleem Gafoor Joins Four Seasons Bengaluru as Executive Pastry Chef

Four Seasons Hotel Bengaluru proudly welcomes Mohammed Saleem Gafoor as the new Executive Pastry Chef. With over 20 years of experience in luxury hosp