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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.
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 ...
In total, companies on the Fortune Southeast Asia 500 took in $1.79 trillion in revenue in 2023, a drop of $45 billion, or 2.5%, from the previous year. Earnings shrank to nearly $130 billion ...
The two major holding companies of The Oberoi Group are EIH Ltd and EIH Associated Hotels (formerly East India Hotels). [8] Arjun Singh Oberoi is the current chairman of The Oberoi Group, his brother, Vikramjit Singh Oberoi at the holding companies. The Oberoi family is the majority shareholder in EIH Ltd with a 32.11% stake. [9]
ITC Ratnadipa (Sinhala: අයිටීසී රත්නදීප, lit. 'ITC Gem Island') is a luxury hotel in Colombo , Sri Lanka. The hotel is part of the Indian hotel chain ITC Hotels , while WelcomHotels Lanka Pvt. Ltd, a subsidiary of ITC Limited , is the proprietor.
The Savoy, is a historic luxury hotel in the hill station, Mussoorie, in Uttarakhand state of India, owned by Mr. Kishore Kaya and Managed by the ITC Hotels.Established in 1902, built in English Gothic architecture style mostly in wood, the hotel is spread over 11 acres (45,000 m 2) with 50 rooms at present, and overlooks the Himalayas.