In a significant boost to Visakhapatnam’s hospitality sector, ITC Hotels has announced plans to develop a new 200-key luxury hotel in the coastal city. This marks the company’s first directly owned property in Visakhapatnam, reinforcing its commitment to expanding its premium presence in emerging Indian markets.
Currently, ITC Hotels operates two properties in Visakhapatnam under management contracts: the 104-key Welcomhotel Devee Grand Bay and the 68-key Fortune Inn Sree Kanya, managed through a wholly owned subsidiary. The new project will be a fully owned venture and represents a major step in ITC’s strategic investment approach.
With an estimated capital outlay of ₹328 crore, funded entirely through internal accruals, the hotel is slated for completion by 2029. The development aligns with ITC’s broader vision of strengthening its footprint in high-potential tier-2 cities, driven by rising tourism and business demand.
This new property will significantly elevate the city’s luxury accommodation offerings, catering to both domestic and international travelers. The initiative underscores ITC Hotels’ ongoing commitment to enriching India’s hospitality landscape with world-class infrastructure and service excellence.
