IHCL ANNOUNCES THE SIGNING OF FIFTHGINGER HOTEL IN AHMEDABAD, GUJARAT

MUMBAI, AUGUST 8, 2022: Indian Hotels Company (IHCL), India’s largest hospitality company, today announced the signing of its fifthGingerhotel in Ahmedabad.Located at Changodar,the hotel will be part of a mixed-use development project. This hotel is anoperating leasewith the Thakur Group of Companies.

Commenting on the signing, Ms.Suma Venkatesh, Executive Vice President– Real Estate & Development,IHCL, said, “Aside from being an important manufacturing hub, Changodar is located in close proximity to Ahmedabad, a key commercial and industrial centre. This signing, our fifth hotel under the Ginger brand, is in line with IHCL’s strategy in being present in leading satellite cities across India. With the addition of this hotel, IHCL will expand its presence to seven hotels across brands in Ahmedabad. We are pleased to partner with the Thakur Group of Companies for this project.”

Strategically located on the Ahmedabad-Rajkot national highway, the hotel will be within easy driving distance from the SardarVallabhbhai Patel International Airport. With over 95 rooms, the hotel will also feature an all-day diner and fitness centre. The hotel will have multiple conference rooms and a banqueting hall, making this the ideal location to host business meetingsand events. This Brownfield project is slated to open in 2024.

A prime business and residential region, Changodar’s industrial area encompasses a number of manufacturing and pharmaceutical industries. Located in the southern suburbs of Ahmedabad, Changodar is easily accessible by road from key cities and towns.

With the addition of this hotel, IHCL will have 17 hotels across brands in Gujarat including fourunder development.