Hotel groups ITC and East India Hotels are planning to merge their hotel interests to create India’s largest hotel chain by revenues, reports the Financial Express of India. The combined group would overtake Tata group’s Indian Hotels division.
According to the reports, conglomerate ITC would demerge its ITC Welcomgroup division,which has more than 100 hotels, and combine it with EIH’s 28 strong Oberoi and Trident brands. ITC already holds almost 15% of EIH shares. The combined group would have revenues of Rs 1,948 crore, providing a base for further expansion both domestically and in international markets.