The Indian Hotels Company (IHCL), the country’s leading hospitality firm, has announced its acquisition of a majority stake in Tree of Life’s operating company. This move is set to bolster IHCL’s presence in the experiential leisure segment.
What Happened: As per a regulatory filing, the Tata Group company disclosed the acquisition on Wednesday, November 5, 2024. This acquisition signifies IHCL’s continued partnership with the Ambuja Neotia Group and aligns with its growth strategy and vision of expanding existing partnerships.
Puneet Chhatwal, MD and CEO of IHCL, said the acquisition is in sync with IHCL’s ethos of creating destinations and building and scaling new hospitality formats. He also expressed enthusiasm about incorporating the Tree of Life brand and scaling it to 100 properties by 2030.
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Harshavardhan Neotia, Chairman, Ambuja Neotia Group, welcomed IHCL to their newest venture, expressing confidence in IHCL’s expertise in developing and operating boutique leisure offerings. The Tree of Life portfolio currently comprises 19 resorts & hotels, with two under development.
Tree of Life Resorts have a presence in Dared, Dehradun, Varanasi, Binsar, Kumaon and Udaipurwati.
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