In a major boost to the hospitality landscape of Visakhapatnam, ITC Hotels has announced plans to construct a new 200-key hotel in the city. The project marks the company’s foray into directly owning hotel property in the coastal Andhra Pradesh city.
Currently, ITC Hotels manages two properties in Visakhapatnam through management contracts — the Welcomhotel Devee Grand Bay with approximately 104 keys and Fortune Inn Sree Kanya, which has around 68 keys and is operated through a wholly owned subsidiary.
The proposed 200-key hotel is expected to be completed by the year 2029, with a capital investment of approximately Rs 328 crores. The funding will be sourced through internal accruals. This initiative aligns with ITC’s broader investment and expansion strategy as it strengthens its footprint in tier-2 cities with rising tourism and business potential.
The announcement of this new hotel reflects ITC Hotels’ commitment to enhancing luxury hospitality offerings across India, and Visakhapatnam. With this addition, ITC Hotels is set to elevate the city’s premium accommodation standards, catering to both domestic and international travellers.
Read also: AP Govt to Build Semi-Ring Road Around Vizag Connecting Bhogapuram and Rambilli
Stay tuned to Yo! Vizag website and Instagram for more city and news updates.
Foundation stone was laid for a virtual reality centre at Yendada and an MIG housing…
Tourism in Visakhapatnam is all set to get a big push, as the State Cabinet…
The review meeting held by South Coast Railway General Manager Sandeep Mathur in Visakhapatnam on…
Chaired by Chief Minister N Chandrababu Naidu, the State Cabinet at its meeting held on…
The first episode of the latest season of the Houses of the Dragon just dropped and…
Pendurthi MLA Panchakarla Ramesh Babu has promised all help from both the government and the…