IHCL EXPANDS ITS FOOTPRINT IN BHUTAN WITH THE SIGNING OF IHCL SELEQTIONS IN THIMPHU
Mr. Puneet Chhatwal, MD & CEO, IHCL with Mr. Ugen Penjor, CEO, Yarkay Group
MUMBAI, June 18, 2024: Indian Hotels Company (IHCL), India’s largest hospitality company, further strengthens their footprint in Bhutan with the signing of an 83-key hotel in Thimphu. This hotel will be rebranded to an IHCL – SeleQtions.
Speaking on the occasion, Ms. Suma Venkatesh, Executive Vice President, Real Estate & Development, IHCL said, “We are delighted to expand our presence in Bhutan. The country’s growing popularity as a short-haul international getaway, particularly amongst Indian travellers, presents a significant opportunity for us. Thimphu’s strategic location makes it a natural inclusion in the popular Paro - Thimphu - Phobjikha itinerary, allowing us to create a seamless circuit for those seeking to explore this Himalayan kingdom.”
The conversion will enhance the interiors of the hotel and will offer a diverse range of dining options, including an all-day dining restaurant cum bar, and a rooftop restaurant with stunning views. It will be well-equipped with wellness areas including a gym, an indoor heated swimming pool, and a spa.
Mr. Ugen Penjor, CEO, Yarkay Group said, “We are excited to join hands with IHCL with its legacy of pioneering destinations in the Indian Sub continent. This partnership will be invaluable in establishing the hotel as the leading choice for travellers visiting Thimphu.”
Thimphu, the capital city of Bhutan, with its breathtaking landscapes, and vibrant cultural heritage is today a growing economic center.
This expansion strengthens IHCL's presence in Bhutan with 3 hotels under development.
About Yarkay Group
Yarkay Group is a family-owned business founded in 1970 having operations across construction, commercial real estate, hospitality, tours & travels and Film Production. The Group has undertaken several construction projects in the last five decades.
Mr. Ugen Penjor is the CEO of Yarkay Group Pvt. Ltd. Ms Phub Zam, one of the promoters served as the first woman President of the Bhutan Chamber of Commerce & Industry from 2016 to 2021.
About The Indian Hotels Company Limited
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as World's Strongest Hotel Brand 2024 and India’s Strongest Brand 2023 as per Brand Finance; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 322 hotels including 99 under development globally across 4 continents, 13 countries and in over 130 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is listed on the BSE and NSE.
Please visit: www.tajhotels.com; www.seleqtionshotels.com; www.vivantahotels.com; www.gingerhotels.com
For more information, please contact: malihah.faizi@ihcltata.com