ITC Hotels is all set to launch its first five star in Goa with an Advani Hotel’s property

With Goa being one of the most favored tourist destinations in the world it comes as no surprise then that one of India’s premiere most hotel chains – ITC Hotels, too has decided to explore firsthand the potential of the sunshine state. Speculation is rife that the hotel division of ITC Ltd will soon be purchasing the Ramada Caravela Beach Resort from Advani Hotels & Resorts for a whopping figure of Rs. 700 crore. If the deal does go through, this will be ITC Hotel’s first five star property in Goa.

The 199-room sea-facing property located on Varca beach is done up in the quintessential Portuguese style of architecture and even has an additional floor space index (FSI) of 1 lakh sq ft. Industry insiders see ITC’s move to acquire a readymade hotel as a masterstroke especially in a state where getting land for new projects is next to impossible.

The spokesperson for the ITC as well as a senior Advani Hotels executive have both declined to comment regarding the hush hush deal however, if sources are to be believed, “ITC Hotels, which currently operates amid-market facility under the Fortune brand in the state, has been on the hunt for a bigger property for some time now. The Ramada property has substantial scope for expansion and is very close to the sea, making it an ideal choice for a luxury hotel operator, according to those cited above.”

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By 2018, ITC Hotels will also see the launch of six new resorts and premium hotels in the country. While the resort properties will be opening in Manesar near Gurgaon and Mahabalipuram near Chennai, the premium hotels will be found in the cities of Hyderabad, Kolkata and Ahmedabad. 2018 will also see the luxury hotel chain launch its first international hotel in Colombo along with the Sri Lankan government.

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