ITCH was originally incorporated as Rama Hotels Pvt Ltd in 1972. In
1974, the Company acquired a 4-acre plot of land from Karnataka
board. The Company was renamed as Vishwarama hotels in 1973. The
Vazir Sultan Tobacco Co Ltd. (VST) acquired this company in 1980-81.
A luxury hotel in Bangalore commenced operations in 1982. The hotel
was accorded 5 star status by the government in 1985. ITC Ltd. and
its associates bought the entire equity capital from VST in 1984. The
Company's name was changed to the existing name in 1986. ITCH acquired
rights in Welcome Group Rajputana Palace Sheraton Hotel at Jaipur in
1992 for a consideration of Rs418.2m. The company came with a rights
issue of partly convertible debentures in April 1993 (to raise
Rs500m) to fund the acquisition of Jaipur hotel from ITC and
expansion of Bangalore hotel with an addition of up market 100 room
As a part of restructuring, in FY95, all the licensed hotels were
transferred from the hotel division of ITC Ltd. to ITCH. The transfer
was on the basis of operating license agreement under which fee linked
to turnover was paid to ITC Ltd. The management team of hotel division
of ITC Ltd. was also transferred to ITCH. In the same year, the
company opened `Grand Kakatiya Hotel' at Hyderabad. The company also
acquired plots of land at Calcutta and Mumbai for setting up new
hotels. The company made a Rights issue at a premium of Rs 110)
in the ratio of 3:10. In 1996 , the company entered into an
operating services agreement to manage the Grand Bay Hotel at
During 2000, the company acquired controlling equity stake of Ansal
Hotels Ltd., representing 54.65 per cent of its subscribed capital.
Hence, Ansal Hotels Ltd. became a subsidiary of the company and that
of ITC Ltd. (the holding company of the company) with effect from
July. It undertook re-branding exercise to enable the customers
identify the products offered by the company.
Mr. S S H Rehman resigned as Managing Director of the company with
effect from 30th July 2003 and Mr. Nakul Anand was appointed as
Managing Director with effect from 30th July 2003.
-Appoints Mr Serajul Haq Khan and Mr K JayaBharath Reddy as the
Additional Directors of the company.
-Board approves the elevation of Mr Nakul Anand as Executive Director
and Chief Operating Officer from his current position.
-Mr S S Rehman ceases to be the Managing Director of the company.
-Company's joint venture Welcome Heritage signs a franchise and
management agreement with the Maharaja of Mysore Mr Srikanta Wodiyar
to foray into South India.
- Fortune Park Hotels, a wholly-owned subsidiary of ITC Hotels Ltd
with hotels catering to the mid-price segment, has added one more
property in the south.The chain which already has a strong presence
in the southern part of India , now announces its 18th property that
is strategically located at the industrially important city of
- ITC Hotels will soon be increasing the value chain, on the back of
its new association with its old partner Starwood Hotels and Resorts,
by bringing the Luxury Collection of hotels to India.