Mumbai: ITC Ltd, a diversified business group with interests in consumer goods and hotels, and US-based Starwood Hotels and Resorts have renewed their partnership to operate 12 luxury hotels in India.
The companies also signed for three more luxury hotels in Hyderabad, Ahmedabad and Kolkata, taking the total number of tie-ups for hotels to 15. These three new properties are expected to open within the next four years.
At present, the luxury hotels are run under two brands—The Luxury Collection (11 hotels) and Sheraton (one hotel). The three upcoming hotels will come under the The Luxury Collection brand.
The partnership between the two companies came into being in 1979 with the Sheraton brand. In 2007, Starwood Hotels entered into an exclusive partnership with ITC to introduce The Luxury Collection in India.
“The association with Starwood Hotels and Resorts for close to 4 decades bears testimony to this commitment and we are pleased to further strengthen our alliance with 3 upcoming ITC luxury hotels in Kolkata, Hyderabad and Ahmedabad, which will be an archetype of the culture and region they are located in," said Nakul Anand, executive director, ITC Ltd, in a statement on Thursday.
Thomas Mangas, chief executive officer (CEO), Starwood Hotels and Resorts Worldwide Inc., said India is one of the fastest growing markets and represents nearly 30% of its current operating footprint in the country.
“Much of our success can be attributed to our long, collaborative partnership with ITC. Together with ITC and our highly experienced local team, we look forward to offering our guests and customers more choices in more places, and our continued mutual success in the country," Mangas said.