ITC plans to expand its hotel business internationally, beginning with neighbouring countries and West Asia, its Chairman and Managing Director Sanjiv Puri said.
The cigarettes-to-consumer goods conglomerate has demerged its hotels division and the new company will list on bourses in the next couple of weeks. The date of ITC Hotels Ltd listing is yet to be announced but Puri said it will happen in "next few weeks".
India's most-valued consumer company selling a wide variety of goods from cigarettes to paper, also operates 140 hotels, almost all of them in India.
ITC's shareholders will own 60 per cent in the new unit, with the parent company retaining the rest.
"So as far as overseas is concerned, we are starting to (expand). We have been India-centric, but we have started to go beyond India. We have a hotel in Colombo. We have one in Nepal. There is one more in Nepal that we have signed up for.
"And over a period of time, we will expand (overseas), primarily more focused on proxi