ITC Hotels has announced plans to construct a new 200-key hotel in Visakhapatnam. The project marks the company’s foray into directly owning hotel property in the coastal Andhra Pradesh city.

Currently, ITC Hotels manages two properties in Visakhapatnam through management contracts — the Welcomhotel Devee Grand Bay with approximately 104 keys and Fortune Inn Sree Kanya, which has around 68 keys and is operated through a wholly owned subsidiary.

The proposed 200-key hotel is expected to be completed by the year 2029, with a capital investment of approximately Rs 328 crore. The funding will be sourced through internal accruals.

With this addition, ITC Hotels is set to elevate the city’s premium accommodation standards, catering to both domestic and international travellers.