ITC, Starwood Hotels in pact for luxury collection
ITC Hotels on Thursday announced its 10 year franchise agreement with the US-based Starwood Hotels and Resorts, for re-branding its seven hotels and bringing them under latter's ‘Luxury Collection’, which is the third largest chain in the world.
ITC has been Starwood's partner in India for the last 30 years. The franchisee agreement between the ITC and Starwood Hotels and Resorts had ended in 2005 and since then it has been extended on a temporary basis.
Starwood’s Asia Pacific head, Miguel Ko said that the company will be doubling its 19 properties in India in the next five years and will introduce more brands in the next two years. He added that “India has opened up so much in the last five years given the economic growth that it has attracted more foreign tourists and business travellers and also stimulated more more domestic travel.” ITC’s Maurya Sheraton in New Delhi, Sonar Bangla in Kolkotta, Windsor in Banglore, Kakatiya in Hyderabad, Maratha and Grand Central in Mumbai and Mughal in Agra will come under the luxury collection