Taj Hotels parent IHCL buys majority stake in Brij Hotels for ₹193 crore —details here

Indian Hotels Company (IHCL), the hospitality arm of the Tata group, announced on Thursday that it has acquired a majority stake in Brij Hospitality, which operates Brij Hotels, in a deal worth its salt. ₹193 crore.

IHCL, the parent company of Taj Hotels, said in an official statement that it has signed definitive agreements to acquire 51% stake in Brij Hospitality, known for its presence in boutique experiential entertainment offerings.

IHCL, India’s largest hospitality company in terms of market capitalization, is listed on both BSE and NSE. The company’s shares as of the closing date ₹688, up ₹9.85 or 1.45% on Thursday.

IHCL is set to increase its presence in the boutique entertainment segment

According to the statement, through this acquisition, IHCL will gain ownership of the Brij brand and plans to expand its footprint in the country’s boutique entertainment segment along with its founding backers.

“India’s hospitality sector is witnessing a continuous rise in demand driven by rising disposable income and discretionary spending, as well as the growing preference for experiential entertainment,” IHCL Managing Director and CEO Puneet Chhatwal said in a statement.

In the face of growing demand, IHCL plans to use this acquisition to strengthen its position as a leading player in India’s leisure tourism, especially in key cultural, spiritual and wildlife destinations.

“Brij’s presence in offbeat locations offers heterogeneity to the IHCL portfolio in places like Jaipur, Varanasi, Ranthambore, northern hills, north-eastern region and Goa, among others,” Chhatwal added.

Hence, with this acquisition, IHCL’s total portfolio reaches 610 hotels, including 253 hotels currently under development and to be added in the coming years.

Brij will expand to Nepal and Sri Lanka

Meanwhile, Brij Hotels has a portfolio of 22 hotels, 11 of which are under construction. The hotel chain specializes in providing luxury stays with a focus on personalized service and unique environments.

Udit Kumar and Anant Apurv Kumar, Co-Founders of Brij Hospitality, said: “We are excited to partner with IHCL to shape the future of boutique hospitality. Brij Hotels is known for creating immersive, locally rooted experiences that celebrate the cultural diversity of the country.”

When asked if the brand will be limited to India, they said: PTI “We actually have a very experiential presence coming up in Pokhara in Nepal. We’re also in the middle of some business development in Sri Lanka. Essentially, we’re still looking at places that tell stories, that are extremely unique.”