Taj Hotels parent IHCL buys majority stake in Brij Hotels for ₹193 crore —details here

Tata group's hospitality arm Indian Hotels Company (IHCL) announced on Thursday that it has acquired a majority stake in Brij Hospitality, which operates Brij Hotels, in a deal worth ₹193 crore.

IHCL, the parent company of Taj Hotels, said in an official release that it has signed definitive agreements to acquire 51% stake in Brij Hospitality, a company known for its presence in boutique experiential leisure offering.

India’s largest hospitality company by market capitalization, the IHCL is listed on both BSE and NSE. Shares of the company closed at ₹688, up ₹9.85, or 1.45% on Thursday.

IHCL set to boost presence in boutique leisure segment

Through this acquisition, IHCL will gain ownership of the Brij brand, and together with its founding promoters, plans to expand its footprint in the boutique leisure segment of the country, as per the statement.

“India’s hospitality sector is witnessing sustained demand growth led by rising disposable income and discretionary spends with a growing preference for experiential leisure,” Puneet Chhatwal, the Managing Director and CEO of IHCL, said in a statement.

In view of the increasing demand, IHCL plans to use this acquisition to strengthen its position as a leading player in India’s leisure tourism, especially in key cultural, spiritual and wildlife destinations.

“Brij’s presence in offbeat locations offers heterogeneity to IHCL’s portfolio in places such as Jaipur, Varanasi, Ranthambore, northern hills, the north east region and Goa, among others," Chhatwal added.

Hence, with this acquisition, IHCL’s total portfolio now stands at 610 hotels, including 253 properties that are currently under development and will be added in the coming years.

Brij to expand to Nepal, Sri Lanka

Meanwhile, Brij Hotels has a portfolio of 22 hotels, with 11 in the pipeline. The hotel chain specialises in providing luxurious stays with a focus on personalised service and unique settings.

Udit Kumar and Anant Apurv Kumar, Co-Founders of Brij Hospitality, said, “We are excited to partner with IHCL to shape the future of boutique hospitality. Brij Hotels is recognised for creating immersive, locally rooted experiences that celebrate the country's cultural diversity.”

When asked whether the brand will be restricted to India, they told PTI that, “We actually have an upcoming asset in Pokhara in Nepal, which is very experiential. We are also in the midst of some business development in Sri Lanka. Basically, we are looking at highly unmatched locations that are still storytelling.”