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Our read

ITC Hotels is likely to add more Mementos resorts under management contracts rather than owning them.

For operators

ITC Hotels is adding Mementos by ITC Hotels Karjat, a 227-key resort with over 60,000 sq ft of indoor event space and over 30,000 sq ft of lawns, which positions it for the weddings, leisure, wellness and corporate-gathering demand near Mumbai and Pune.

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Another Mementos management signing beyond the 227-key Karjat resort by the next results would mean ITC Hotels is building a pipeline that owners and rivals must price in.

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What else has ITC Hotels done in the last three months?

The report: ITC Hotels signs 227-key Mementos resort in Karjat with Arihant Super Structures

ITC Hotels signed a management agreement for the luxury Maharashtra resort, which is planned with more than 60,000 square feet of indoor event space. It targets leisure travellers, weddings, wellness retreats and corporate gatherings.

Planned indoor event space set against outdoor lawns
  • Indoormore than 60,000 square feet
  • Lawnsover 30,000 square feet
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Store and format facts

From the report. Source details below

Outdoor lawns: over 30,000 square feet

What it means for the format

Arihant Super Structures is the owner-partner on this Mementos management contract, which shows ITC Hotels is growing the brand by signing with local developers and could make similar developers approachable for further Maharashtra resort deals.

Next on the rollout

  • A stated opening timeline or construction milestone for Karjat
  • Rival chains announcing wedding-focused resort signings in Maharashtra
  • Wedding and event booking commentary from ITC Hotels at its next results
  • Fresh Mementos signings with other developers, not only Arihant Super Structures

Likely next moves

Our read of what comes next — analysis, not reported by the source.

  • ITC Hotels is likely to announce more Mementos management agreements with property developers in leisure destinations.
  • ITC Hotels will probably market Karjat to wedding planners and corporate event buyers ahead of opening, using its indoor and outdoor event space.
  • Arihant Super Structures is likely to move to construction and design milestones for the 227-key resort, with the opening date set by its progress.
  • Rival luxury and upper-upscale chains may answer with their own management-contract signings for resorts aimed at weddings and wellness.

The source

Source Read the source at BW Hotelier

Filed

Also reported by ET Hospitality

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