"Three properties of ITC Hotels are ready to be inaugurated in the next month," ITC Hotel president, KK Malhotra told The Financial Express While ITC Grand Maratha, the 400-room five star deluxe property in Mumbai and the 222-room Marriott in Delhi is scheduled to be inaugurated in January 2001, the 88-room ITC-I, an extension of Maurya Sheraton, New Delhi, is already operational.

"We expect to add 500 rooms in the next couple of years, as the construction of ITC Sonar Bangala in Calcutta and ITC Grand Central in Mumbai has been initiated," Mr Malhotra said. Both the five star deluxe properties will have 250 rooms each.

Speaking about the company's investment plans on the hotel projects, Mr Malhotra said: "The company will invest Rs 1,500 crore to add 1,500-odd rooms in the next three-four years." They have invested Rs 400 crore in ITC Grand Maratha and Rs 250 crore each will be invested in the two upcoming projects in Mumbai and Calcutta.

ITC Hotels' wholly-owned subsidiary, Fortune Hotels, which promotes mid-market 3-4 star hotels, is also planning to open about six hotels in different parts of the country.

Stating that the second property of the company in Saket, New Delhi will be named Merriott, Mr Malhotra said, Merriott will not have any equity stake in the hotel. Ansal Hotels Ltd is the promoter of the Saket property, in which ITC Hotels is one of the major shareholders. The other stakeholders are the construction major Ansal group and the Japanese company Itochu.

In order to have a leadership position in the country, the hotel major had recently re-positioned its properties under four different categories. According to the new brand positioning, the super five star deluxe hotels of the group will bear the prefix "ITC" in their names. The five-star properties would be positioned as "WelcomHotels" and the 3-4 star hotels would be placed under the "Fortune Hotels" brand. "WelcomHeritage" is the brand under which heritage properties such as palaces, forts and havelis will be promoted.