ITC Hotels Limited has signed a 90-room Fortune Select hotel in Guwahati, Assam, expanding its presence in Northeast India's hospitality market. The property, scheduled to open in April 2028, will include 90 rooms, an all-day dining restaurant, banquet and conference facilities, and other guest amenities catering to both business and leisure travellers. As per The Times of India, MD Anil Chadha confirmed the company is in early-stage evaluation for suitable opportunities for management contracts in international destinations. The Middle East (West Asia), along with proximal markets, is currently under review given the emerging business opportunities in this space.
Despite current challenges, ITC Hotels sees significant opportunity in the Dubai market once hostilities end. As reported by The Times of India, tourist flow to West Asia has been impacted after the conflict in the region began on February 28, but the company believes there will be substantial recovery once the situation stabilizes. The expansion comes as Dubai attempts to make a comeback amid ongoing regional tensions, with the company actively evaluating multiple offers from property owners in the region for luxury and premium hotel management contracts.
The Indian luxury hotel market is experiencing robust growth, with luxury properties representing 42% of hotel transaction volume in 2025, according to latest market data. India's luxury hotels and resorts market is forecast to grow from USD 9,430 million in 2025 to USD 18,612 million by 2032, representing a 10.20% CAGR. The market recorded 64,118 branded-key signings across 586 properties in 2025, with nationwide occupancy of approximately 63-65% and luxury ADR reaching USD 69. As per The Times of India, the company currently operates a property in Sri Lanka and will open one in Nepal shortly, while focusing on the 'asset right' approach to reach its target of 250 operational properties by 2031 with 22,000 keys.
The luxury hotel market is witnessing significant expansion beyond metropolitan areas, with Tier II and Tier III cities accounting for approximately 71% of branded hotel signings in 2025. According to latest market analysis, this shift changes the luxury investment landscape by making regional business hubs, spiritual destinations, wildlife circuits and wedding markets more commercially viable for branded resorts and experiential hotels. The government has approved 40 tourism projects worth INR 3,295.76 crore (2024, India) across 23 states, which will improve public infrastructure and destination amenities to support premium accommodation development.
Beyond Dubai, ITC Hotels is pursuing growth in proximal international markets as part of its broader expansion strategy. According to The Times of India, the company has achieved 87 hotel signings and 43 hotel openings over the last three years, laying the foundation for its ambitious 2031 target. While the company will continue its 'calibrated increase in owned assets', the primary focus remains on managed hotels to achieve the 250-property milestone. The company's expansion strategy aligns with the broader Indian luxury hotel market growth, which recorded 14,199 rooms opening across 176 properties in 2025, with Tier II and Tier III cities accounted for approximately 71% of branded hotel signings.
