In a senior management rejig, diversified group ITC has elevated chief operating officer of its hotels division, Dipak Haksar, as the Chief Executive of ITC Hotels.
Nakul Anand, Executive Director of ITC who was earlier holding additional charge as Chief Executive will continue to oversee the hotels, travel and tourism businesses as well as the lifestyle retailing business of the conglomerate.
"Nakul Anand, Executive Director of ITC Ltd oversees the hotels, travel & tourism businesses as well as the lifestyle retailing business," an ITC spokesperson said in an emailed response to a query.
Dipak Haksar is the Chief Executive of ITC Hotels/ WelcomHotels, the spokesperson added.
In another change, ITC Hotels division's operations vice-president Ranvir Bhandari has been elevated as Chief Operating Officer of ITC Hotels/ WelcomHotels.
"As in the other businesses of ITC, the executive management of a division is entrusted to the Divisional Management Committee, headed by the Divisional Chief Executive," the spokesperson said.
ITC Hotels currently has over 100 properties across the country under four brands - 'ITC Hotels' in the luxury segment, 'WelcomHotel' in the upper-upscale segment, 'Fortune Hotels' in the upscale & mid-market space and 'WelcomHeritage' in the leisure and heritage segment.
"In view of the positive long-term outlook for the Indian Hotel industry coupled with the prospect of sustained growth in both global and domestic economy, ITC's Hotels business remains committed to its investment-led growth strategy," the spokesperson said.
The new GHW will encourage the flow of illegal trade of
brands owned by international companies into the country since such brands are manufactured in many jurisdictions which do not mandate the printing of graphic health warnings on cigarette packages as applicable in India, it added.
The company said legal cigarette industry in India will be hard pressed "to counter the menace of illegal cigarettes as they will be perceived by the consumer to be safer in the absence of the statutorily mandated health warnings".
"Coupled with the fact that illegal cigarettes are available at a fraction of the price of legal cigarettes, the new GHW will provide further fillip to the growth of illegal cigarettes in the country," ITC said.
