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IHCL to sell entire 25.52 pc stake in TAJ GVK to GVK-Bhupal family
IHCL to sell entire 25.52 pc stake in TAJ GVK to GVK-Bhupal family
New Delhi, Dec 19 (PTI) Indian Hotels Company (IHCL) on Friday said it has entered into an agreement to sell its entire shareholding of 25.52 per cent in TAJ GVK to the GVK-Bhupal family.
The move will lead to the transition of IHCL's joint venture with the GVK-Bhupal family in Taj GVK Hotels and Resorts Ltd. to a long-term management agreement for its portfolio of hotels.
GVK-Bhupal family will continue to be promoters and will hold 74.99 per cent in the company, on the completion of the transaction, IHCL stated.
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Puneet Chhatwal, Managing Director & CEO IHCL, said: “In line with IHCL's five-year roadmap ‘Accelerate 2030' focused on a capital-light strategy, the next phase with the GVK-Bhupal family transitions from a shareholding agreement to long-term management contracts. We look forward to realising our common purpose of unlocking India's tourism potential." He added, “This transition elevates IHCL's capital-light operating inventory to 67 per cent, unlocking capital for high-margin growth while advancing the consolidated ROCE towards our guidance of 20 per cent by 2030." Krishna Bhupal, Joint Managing Director, Taj GVK Hotels & Resorts Ltd., said: “The GVK-Bhupal family and IHCL for over two decades have established a portfolio of seven hotels with over 1,500 keys." He added, “Exploring future growth opportunities, we have executed a management contract with IHCL in October 2025, for a 256-key Taj in Yelahanka, Bengaluru, set to open in 2026 with a further scope of development on the remaining ~4-acre land parcel. The company will pursue its growth strategy to scale the hospitality business to an inventory of about 4,000 keys over the next five years." IHCL will continue to manage the currently operational six hotels along with the upcoming hotel in Yelahanka, Bengaluru.
TAJ GVK portfolio includes Taj Krishna, Hyderabad, Taj Deccan, Hyderabad, Taj Club House, Chennai, Taj Chandigarh and Vivanta Hyderabad, Begumpet and the upcoming Taj in Yelahanka, Bengaluru. PTI RSN HVA
Source: News18
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