Investor Presentaiton
Strategic Rationale
1 Hotels Business has matured over the years; well poised to chart its own growth path as a separate entity
Asset Right strategy to accelerate growth whilst continuing to leverage ITC's institutional strengths & brand equity
2
3
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Creation of a separate Pure Play Hotels entity to enable crafting the next horizon of growth & sustained value
creation for shareholders
Sharper business focus anchored on a differentiated strategy aligned with industry specific market dynamics
A
TC
Enduring Value
New entity would operate with an optimal capital structure, with the ability to access equity/ debt markets for
funding growth requirements
Ability to attract the right set of investors / strategic partners/collaborations Investment strategies & risk profiles aligned
more sharply with Hospitality industry
4
Unlock Value for ITC shareholders
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Direct stake to existing ITC shareholders in a pure play Hotels entity
Independent market driven valuation of focused new entity
Continued access to cross synergies
Reinforce ITC's sharper capital allocation strategy (i.e. 'asset-right' + higher dividend distribution)
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