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Mar 29, 2011, 08.25 PM IST
ITC Hotels, the hotels division of the tobacco-tohospitality major ITC, is foraying into retail mall and service apartments, reports The Economic Times.
Most of the new mega hotel projects of the company will have luxury retail space and service apartments. ITC would soon start talks with high-end retail players for renting out retail space. It will be part of ITC's strategy to de-risk the hotel business, the report adds..
The company is planning to invest USD 2 billion in hospitality business in next few years which is one of the thrust areas for investment of ITC along with FMCG and paper. The hotel division of ITC has a turnover of over Rs 1,000 crore, the report says.
Source: The Economic Times
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