ITC Limited renewed 40-year partnership with Starwood Hotels
Posted on:08 Apr 2016 13:26:35
08 April 2016 Current Affairs GK: ITC Limited and Starwood Hotels & Resorts on 7 April 2016 announced that they have signed agreements to extend their existing partnership for 11 ITC Luxury Collection hotels and 1 hotel under the Sheraton brand. ITC and Starwood also announced 3 upcoming ITC hotels under The Luxury Collection brand in India. The addition of the ITC Kohinoor in Hyderabad, ITC Narmada in Ahmedabad and ITC Royal Bengal in Kolkata will take the inventory up to 15 hotels, over the next 4 years. ITC Limited is an Indian conglomerate headquartered in Kolkata, West Bengal.Its diversified business includes five segments: Fast-Moving Consumer Goods (FMCG), Hotels, Paperboards & Packaging, Agri Business & Information Technology.It was established in 1910 as the Imperial Tobacco Company of India Limited.The company was renamed as the Indian Tobacco Company Limited in 1970 and further to I.T.C. Limited in 1974. The periods in the name were removed in September 2001 for the company to be renamed as ITC Ltd. The company completed 100 years in 2010.Starwood Hotels and Resorts Worldwide, Inc. is an American hotel and leisure company headquartered in Stamford, Connecticut. It is one of the world's largest hotel companies. It owns, operates, franchises and manages hotels, resorts, spas, residences and vacation ownership properties under its 11 owned brands.Nearly 40 decades old partnership between ITC Limited and Starwood Hotels came into being in 1979 with the Sheraton brand.In 2007, both companies signed an agreement through which Starwood introduced The Luxury Collection brand in India, which at present stands at 11 hotels.
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