Cigarettes-to-hotels conglomerate ITC is working on creating an alternative structure for its hotel business following a recovery in the hospitality sector post Covid-19 pandemic. The plans to unlock value for the hotel business were earlier kept on hold as the industry dealt with the impact of the pandemic.ITC chairman and managing director Sanjiv Puri, while addressing shareholders in the 11th AGM said, “We will take it forward in line with industry recovery dynamics,” adding that the company is aiming at a de-merger of its hotel business.

Reiterating their aim of de-merger on Thursday in a press conference, Puri said, “Now that there are indications of industry on a positive trajectory, it is very much on the table.” For the uninitiated, the company operated 113 properties under its hotel business.

9 hotels were launched in FY22 and ITC has a healthy pipeline of new properties which will be opened over the next few quarters, Puri shared at the company’s AGM. “Undoubtedly, the last two years have been the most challenging for the travel and hospitality sector worldwide. Your company’s hotels business responded with commendable agility to tap alternate customer cohorts and garner new revenue streams,” he said.

Puri further added that the segment revenue for the year doubled whilst segment PBIT turned positive in the second half of FY22. The resurgent trend in domestic tourism, MICE and banqueting highlight the immense opportunities for trusted brands like ITC Hotels in a post-pandemic era.

Other than the plans for the hotel business, Puri also pointed out a ‘possible listing’ of the IT business under ITC Infotech and said the company is evaluating the plan. Along with this, the FMCG major is also giving a major push to its recently launched app for farmers — ITCMAARS.

With ITCMAARS, the company aims to equip farmers with the latest information and technology, which will help them better their yields and ultimately raise their income. It will also connect the farmer with farmer producer organisations (FPOs), and companies and offer them services such as loans.

Puri indicated that they will also look at plans of onboarding insurance and other offerings on the app later.

“The newly launched super-app ITCMAARS is designed to provide maximum support to marginal farmers at their doorsteps, to give them the benefits of the best in technology and access to markets. For me, ITC MAARS will be a success when it makes a meaningful contribution to multiplying farmer incomes and making India’s agri value chains competitive,” said Puri.