ITC Hotels has been allotted land on a lease basis by the India International Convention & Exhibition Centre (IICC) at New Delhi to develop a 5-star hotel, with a lease premium of ₹3.27 billion. The project strengthens ITC’s luxury footprint and aligns with Delhi’s growing convention-led hospitality ecosystem and tourism demand.
ITC Hotels announced the allotment of land by the India International Convention & Exhibition Centre (IICC) at New Delhi for the development of a 5-star property. The parcel has been secured on a lease basis for a premium of ₹3.27 billion, signaling a strategic expansion in a high-demand, convention centric micro market.
Positioned adjacent to one of India’s largest MICE hubs, the planned hotel is expected to enhance ITC’s luxury portfolio and capture business travel, events, and international delegations. The investment underscores confidence in Delhi’s hospitality outlook and supports broader infrastructure tourism growth.
Key highlights
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Lease allotment: Land allotted by IICC, New Delhi, for 5-star hotel development.
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Lease premium: ₹3.27 billion committed, reflecting a long-term growth bet.
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Strategic location: Proximity to major convention and exhibition infrastructure.
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Portfolio impact: Strengthens ITC Hotels’ luxury presence and MICE capability.
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Demand drivers: Business travel, events, and international tourism expected to support occupancy and rates.
Sources: ITC Hotels exchange filing, India International Convention & Exhibition Centre (IICC), Business Standard