Teaching Note: “Maiden overseas venture of ITC hotel business an opportunity?”

ITC was one of the most admired companies in India because of its robust performance. As per the reports of 2024, it was found that the ITC Group generated revenue of ₹ 69,446.20 crores (1 crore = US$114,478.23) from tobacco to non-tobacco; the transformation was not at all easy. The company diversified the business keeping in mind that the major threat would come to tobacco business due to societal pressure. Shareholders of ITC agreed to the demerger of its hotel business. The company invested $500m in Sri Lanka for the expansion of its hotel business. However, the economy of Sri...