Indian Hotels plans to sell 10 properties over next 3 years to cut debt

Indian Hotels CEO Puneet Chhatwal. The properties for sale would span across all brands, including The Gateway, Vivanta and Ginger located primarily in the secondary and tertiary markets. Photo: Mint

Indian Hotels Co. Ltd, which runs Taj hotels, plans to monetize around 10 properties in the next three years as part of a larger plan to bring down its debt and fund its future growth, said a top executive. The Tata Group firm aims to reduce its consolidated debt by 30% in the next 18 months, mainly through asset monetization, Puneet Chhatwal, managing director and chief executive officer said in an interview.

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