Publications
Publications
- October 2023
- HBS Case Collection
Leading Transformation at IHCL
By: Krishna G. Palepu, V.G. Narayanan and Malini Sen
Abstract
In November 2017, Puneet Chhatwal, took charge as MD and CEO of IHCL, popularly referred to as the Taj Hotels. Despite being India’s largest hospitality company by market capitalization and respected for its values and service, IHCL had made losses for the last seven years and had high debt levels. Chhatwal prioritized improving the company’s profitability while reducing debt. He opted for an asset-light portfolio and refreshed the brand architecture. With each brand addressing a different price point, IHCL expanded its portfolio across different customer segments. The new strategy of ‘asset-light’ and ‘multi-brand’ yielded impressive financial results and Chhatwal started planning the next phase of IHCL’s growth. What more should IHCL do to sustain this momentum, especially amidst increasing competition from global players?
Keywords
Turn Around Management; Hospitality Industry; Brand Management; Financial Strategy; Business Model; Restructuring; Asset Management; Leadership Style; Crisis Management; Brands and Branding; Product Positioning; Segmentation; Asia; India
Citation
Palepu, Krishna G., V.G. Narayanan, and Malini Sen. "Leading Transformation at IHCL." Harvard Business School Case 124-041, October 2023.