IHCL AND IFC MAKE STRIDES IN ECO-FRIENDLY HOSPITALITY

MUMBAI, JANUARY 2, 2024: India's leading hospitality company, Indian Hotels Company (IHCL) today announced the successful completion of nine pioneering pilot projects in collaboration with IFC’s TechEmerge Sustainable Cooling Innovation Program, within a short span of 18 months. This underscores the company’s unwavering commitment to fostering environmentally responsible practices to bring efficient, climate-smart, cost-effective cooling solutions to India's hospitality sector.

Mr. Gaurav Pokhariyal, Executive Vice President - Human Resources, IHCL, said, "IHCL with Paathya, its comprehensive ESG+ platform, is committed to driving sustainability and social impact measures. The rigorous testing of nine innovative cooling solutions has allowed us to validate their real-world performance. The implementation of these pilots across our portfolio has the potential to result in savings of up to US$18.2 million and a substantial annual reduction of 108,000 tCO2 emissions. We are delighted to work with IFC for a greener future."

A high-efficiency fresh air purification system installed at Taj Palace, New Delhi recorded notable improvements in the air quality of the hotel lobby with reductions in PM 2.5 by over 95%. A low approach cooling tower at Taj Exotica Resort & Spa, Goa, optimizes the performance of the air conditioning system by maintaining the approach condenser temperature within 2 °C. A BE-IoT (Built Environment Internet-of-Things) system, piloted at Taj Mahal, New Delhi, focusing on critical cooling system equipment, has shown remarkable potential for cost savings and emphasized the role of continuous monitoring and automation. Further, IHCL also successfully piloted a chemical-free water treatment system at Taj Holiday Village Resort & Spa, Goa. This solution eliminated the need for chemical dosage and created a positive impact on operational expenses. IHCL has successfully piloted projects in cities like New Delhi, Jaipur, Goa among others.

About IFC

IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

About TechEmerge

TechEmerge is IFC’s award winning program that accelerates the adoption of innovation where it is needed most. It has a proven track record of matching cutting-edge tech companies and start-ups with leading corporations and other organizations in emerging markets. Its programs have generated commercial contracts worth more than USD 1 million, helped innovators to raise tens of millions of dollars in financing and investment, and scaled innovations that are expected to benefit millions of people each year

About The Indian Hotels Company Limited

The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as India’s Strongest Brand 2023 as per Brand Finance; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment.

Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 280 hotels including 82 under development globally across 4 continents, 12 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.

Please visit: www.ihcltata.com; www.tajhotels.com; www.seleqtionshotels.com; www.vivantahotels.com; www.gingerhotels.com

For more information, please contact: kirti.dhingra@ihcltata.com