Premium Essay

Jannr

In: Business and Management

Submitted By sunilchoudhary
Words 433
Pages 2
Globalising markets and the expected higher rates of growth of the Indian economy will lead to growing demand for high quality accommodation. India is grossly under-roomed and it is estimated that hotel room capacity will have to at least double over the next five years to keep pace with the expected growth in demand. It is companies such as yours, with a strong balance sheet, that can contribute effectively to the creation and sustenance of such capital intensive and long gestation projects like hotels, which constitute an important part of infrastructure for the growth of trade, commerce and industry.

Towards this end, your Company had initiated an aggressive investment plan a couple of years ago, with a planned outlay of over Rs. 1500 crores to strengthen the ITC Welcomgroup chain by establishing presence in key markets. The 80-room super deluxe extension at the ITC Maurya Sheraton, christened ‘ITC One’, has been completed and is ready for opening shortly. The super deluxe project, ITC Grand Maratha, at Sahar, Mumbai is at an advanced stage of construction and is expected to open towards the end of this year. Construction of the second hotel near Upper Worli in Mumbai has already commenced, together with a housing project for managers. The construction of ITC Sonar Bangla at Calcutta is progressing satisfactorily. The second hotel project in Delhi is at an advanced stage of completion and will be ready to receive guests in the next few months.

in order to re-position effectively the product and service offerings of the ITC Welcomgroup chain across different segments of consumers, a revised branding strategy is being implemented. This will enable your Company’s hotels business to focus even more closely on the needs of consumers and position itself to dominate the major segments of the hospitality industry.

Your Company believes that with skills and

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