Altinho (Goa) [India], February 27 (ANI): In a landmark move to bolster the hospitality sector in Goa, the Indian Hotels Company Ltd. (IHCL) and the Directorate of Skill Development, Goa, signed a Memorandum of Understanding (MoU) on Wednesday.

Chief Minister Pramod Sawant took to Twitter to announce the collaboration, stating, 'Witnessed the signing of a Memorandum of Understanding (MoU) between the Indian Hotels Company Ltd. (Taj Group) and the Directorate of Skill Development, Goa. This collaboration paves the way for India's largest hospitality skilling centre in Goa, aimed at creating enhanced employment opportunities for the state's youth.'

The establishment of India's largest hospitality skilling centre in Goa marks a significant step towards skill enhancement and employment generation in the tourism sector. With Goa being a prime travel destination, this initiative is expected to create substantial job opportunities, boost the local economy, and elevate hospitality standards in the region.

The initiative aligns with IHCL's broader vision under 'Accelerate 2030', a strategic roadmap to become South Asia's most valued, responsible, and profitable hospitality ecosystem.

As part of this plan, IHCL aims to expand its brand presence by launching new hospitality brands, bringing its total hotel portfolio to 700 properties by 2030.

The company is set to double its consolidated revenue to Rs 15,000 crores, with a strong focus on generating industry-leading margins and return on investment while maintaining its service excellence.

The 'Accelerate 2030' vision is centered on driving top-line growth, with 75 per cent of revenues expected from traditional hospitality businesses and management fees, while 25 per cent+ will come from new and re-imagined businesses.

Traditional revenue streams will be strengthened by RevPAR leadership, asset management initiatives, and the expansion of existing properties. Management fees alone are projected to exceed Rs 1,000 crores by 2030, driven by portfolio growth and an increasing share of managed inventory.

IHCL's new business verticals, including Ginger, Qmin, ama Stays & Trails, and Tree of Life, will follow a capital-light expansion model, aiming for a revenue CAGR of 30 per cent+.

Meanwhile, re-imagined businesses such as The Chambers and TajSATS will continue their growth trajectory, further reinforcing IHCL's leadership in the hospitality industry. (ANI)