On this page
ITC Hotels signs 104-key Welcomhotel in Manesar, expanding its NCR footprint under its asset-right strategy
Our read
ITC Hotels will more likely than not use the Manesar signing as a template for further asset-right Welcomhotel deals in NCR, with the property opening later than the announcement implies.
For operators
ITC Hotels signed a management agreement for a 104-key Welcomhotel in Manesar, Gurugram, so other NCR hotel operators now compete with a property offering over 18,000 sq. ft. indoor banqueting and 22,000 sq. ft. outdoor event space.
Watch
An opening date for the 104-key Manesar hotel before the next ITC Hotels results would mean construction is advanced, putting NCR banquet rivals on a clock.
The report
The Gurugram hotel, run by ITC Hotels under a management agreement, will have more than 18,000 sq. ft. of indoor banqueting space and 22,000 sq. ft. of outdoor event space. It will also include an all-day restaurant, a bar and a lounge.
One email each morning: the day’s top moves in Indian retail, why each matters and what to watch. Free. Stop any time.
What it means for the format
ITC Hotels added a 104-key Welcomhotel in Manesar through a management agreement, so NCR hotel owners have a live example of a management agreement as the route onto the Welcomhotel brand.
Next on the rollout
- Another ITC Hotels NCR signing announced after Manesar
- Pipeline or key-count disclosure in ITC Hotels' next quarterly results
- Rival chains' Gurugram or Manesar event-hotel announcements