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.
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