IHCL Strenghtens Presence in Experiential Leisure Segment
Acquires Majority Shareholding in Tree if Life Operating Company - Furthers Its Partnership with Ambuja Neotia Group
Indian Hotels Company (IHCL), India’s largest hospitality company, today announced the acquisition of majority shareholding in the operating company of Tree of Life, joining hands with Ambuja Neotia Group.
Photo by IHCL
MUMBAI - Indian Hotels Company (IHCL), India’s largest hospitality company, today announced the acquisition of majority shareholding in the operating company of Tree of Life, joining hands with Ambuja Neotia Group.
This acquisition aligns with IHCL’s pioneering ethos of creating destinations and building and scaling new hospitality formats. In line with our growth strategy, it also reflects our vision of expanding existing partnerships. Currently, IHCL is in partnership with Ambuja Neotia Group for seven hotels and resorts featuring notable properties such as the Taj Chia Kutir and Taj Guras Kutir in Darjeeling and Gangtok.
Recognising the growing demand for experiential leisure, IHCL is excited to onboard the Tree of Life brand and scale it to 100 properties by 2030.
Mr. Puneet Chhatwal, Managing Director & Chief Executive Officer, IHCL
Tree of Life Resorts offers tranquil escapes from the everyday, embodying the essence of authentic India in over 15 destinations including off-beat locations like Dared, Dehradun, Varanasi, Binsar, Kumaon, and Udaipurwati.
We are delighted to welcome IHCL to our newest venture taking our collaboration to the next level. As leaders in Indian hospitality, IHCL has been instrumental in pioneering new destinations and travel segments, placing India on the global tourism map. With a proven track record of successfully scaling brands across various formats, we are confident of growing the Tree of Life portfolio with their expertise in developing and operating boutique leisure offerings. Mr. Harshavardhan Neotia, Chairman, Ambuja Neotia Group
Tree of Life portfolio is 19 resorts & hotels with 2 under development.
About the Ambuja Neotia Group
Ambuja Neotia is a prominent and respected corporate house headquartered in Kolkata with its forte in real estate and recent forays into hospitality, healthcare, and education.The company, under the stewardship of Mr. Harshavardhan Neotia has been responsible for landmark projects in and around Kolkata. Udayan, Kolkata’s first condoville built on the PPP (Public-Private Partnership) model made good living ‘affordable’ for the first time in the country and earned Shri Harshavardhan Neotia, the Padmashree in 1999. This was followed by several mini township projects and housing complexes in Kolkata, Durgapur, Burdwan and Siliguri.
With City Centre Salt Lake, the mall concept was revolutionised. Leisure destinations like The Fort Raichak and Ganga Kutir were created by the river Ganges. The Group also forayed into healthcare with the setting up of Bhagirathi Neotia Woman and Child Care Centre. Eco space Business Park was developed to give the city smarter, greener workspaces for better work-life balance. With the vision of imparting education that transforms students into leaders for global society, the Group embarked on a new journey with The Neotia University.
Please visit: www.ambujaneotia.com