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The company name was changed from ITC Ltd. to ITC Hotels in 1986. [11] In an effort to unlock value and focus on core competencies, ITC Ltd. decided to demerge its hotel business into a separate entity in 2023. The board of ITC Ltd. granted in-principle approval for the demerger under a scheme of arrangement. [12]
On 15 October 2011, the hotel was re-branded the My Fortune, Chennai, the first hotel in the Fortune Park Hotels line, a wholly owned subsidiary of ITC Ltd. [6] [7] The hotel was again rebranded as WelcomHotel Chennai on 15 October 2017, and later as Welcomhotel by ITC Hotels, Cathedral Road, Chennai.
Taj Mahal Palace Hotel c. 1908. The company was founded by Tata Group founder and industrialist Jamshedji Tata. [7] He incorporated Indian Hotels Company Limited in 1899 and registered in 1902. [8]
In July 2023, ITC Ltd.'s board of directors approved in principle the demerger of its hotel business and the formation of a wholly owned subsidiary called ITC Hotels. [ 27 ] [ 28 ] As of March 2024, British American Tobacco is the largest shareholder in the company with a 25.5% stake, followed by Life Insurance Corporation of India which holds ...
The ITC Grand Chola is a 5-star luxury hotel in Chennai, India. [4] It is located in Guindy , opposite SPIC building and along the same row of buildings as Ashok Leyland Towers. The building, designed by Singapore -based SRSS Architects, is of mixed-use development with three separate wings and is themed after traditional Dravidian architecture ...
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