The hospitality chain wants to double its room inventory to 30,000 in that period.
The company opened its 100th property in India today, the Vivanta Gurgaon, marking its entry into the city.
“It was about time we entered the market. It took us much longer than others but we are there.
“We have been very aggressive in our growth,” said Raymond Bickson, managing director.
Grappling with lease renewal issues for two of its iconic properties in recent times, IHC indicates it is confident of retaining these.
On the Taj Mumbai’s property lease with the Mumbai Port Trust, Bickson would not comment, saying the matter was under adjudication.
On the proposed auction of the Taj Mahal in this city by the New Delhi Municipal Council, he said, “We are prepared. We have been partners (with NDMC) for many years.”
The company, meanwhile, feels it is important to expand its presence internationally, to “protect its market share” with competition intensifying in the space.
It plans to build presence in markets such as China, Africa, West Asia and Cuba, by opening 10 hotels in all, primarily luxury properties of the Taj and a few of Vivanta.
It operates 17 hotels internationally.
While inorganic growth is an option, the chain's talks for buying Orient-Express have not moved further and the matter remains ‘status quo’, said Bickson.
At present, Indian Hotels has a market share of around 22
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