ITC expands global footprint with maiden overseas hotel in Colombo

In a strategic move towards global expansion, ITC, the diversified conglomerate headquartered in Kolkata, inaugurated its first hotel outside India in Colombo on Thursday. The inauguration of "ITC Ratnadipa" marks the conglomerate's foray into overseas ventures within the hospitality sector, with plans for further expansion across international markets. Sanjiv Puri, Chairman and Managing Director of ITC Ltd, stated that the conglomerate is open to exploring potential in international markets for hotel openings, mainly through management contracts. Puri also highlighted the company's strong credentials in the hospitality sector, expressing confidence in expanding its footprint beyond Indian borders.The newly inaugurated property, ITC Ratnadipa, situated on prime sea-facing land spanning 5.86 acres in Colombo, boasts 352 guest rooms, suites, and service apartments. With a $500 million investment, the hotel aims to cater to the Meetings, Incentives, Conferences, and Exhibitions (MICE) segment, along with inbound tourism in Sri Lanka. WelcomHotels Lanka, a wholly-owned subsidiary of ITC Ltd, spearheaded the property's launch. Puri also emphasised the conglomerate's focus on "proximal markets" for its worldwide hospitality expansion strategy. While the immediate focus remains on these markets, ITC is open to exploring compelling opportunities beyond them, including the Middle East and Nepal.