International Travel House is India’s first publicly listed travel management company, born in 1981 and now an associate of ITC Hotels Limited after a group demerger in early 2025. It operates as a single, tightly integrated business providing every layer of corporate travel - from booking flights and hotels to owning the car that picks you up and running the conference you attend - all under one roof, with a recurring philosophy of delivering a seamless experience that helps travellers achieve more from each trip. # Business segments A single integrated travel-services engine with four complementary lines - business travel management, a company-owned car fleet, corporate events, and leisure packages - all serving the same corporate client base and feeding each other. ## 1. Business Travel Management: the core booking and advisory engine **The company earns fees on every flight, hotel room and visa it books for corporate clients, with international travel driving the bulk of transaction value.** - **Paid on bookings, not mark-ups** - revenue from air tickets and hotels is recognised on a net basis, meaning ITH collects a commission or fee rather than reselling inventory; it also earns Productivity Linked Bonuses from airlines when performance targets are met. - **The booking tool is proprietary** - the SMART 2.0 Self-Booking Tool lets corporate employees book their own travel within policy rules, and a new integrated Expense Module ties spending to trips, so clients get one view of travel and cost. - **Carbon tracking built in** - a partnership with an industry-leading platform lets clients track Scope 3 emissions from their travel, turning a regulatory headache into a service the company already provides. - **Foreign exchange on the side** - the company runs a money-changing business across key Indian cities, offering currency to the same corporate travellers it books tickets for, though it does not offer forex services at its Hyderabad and Pune branches owing to lack of volumes. ## 2. Car Rental Services: the company-owned fleet **ITH owns the cars and employs the drivers through an entrepreneur programme, earning revenue on a gross basis as a principal - not a broker - in the corporate rent-a-car market.** - **Owns the metal** - the company holds a fleet of commercial motor vehicles with a gross block of ₹3,711.85 lakhs as of March 2024, meaning it carries the asset on its books and earns the full fare, not a commission. - **Drivers are entrepreneurs, not employees** - the Driver Entrepreneur Program supplies chauffeurs nationwide and is credited with enhancing operating margins, so the company gets quality without carrying a full driver payroll. - **Technology from booking to billing** - the ‘Disha’ app handles duty assignment and navigation, while an in-house application manages the full reservation-to-invoicing cycle. - **Going electric on its own fleet** - the company inducted 65 additional EVs in FY25, bringing the total to 106 across ten cities, a move projected to cut roughly 806 metric tonnes of CO₂ annually. ## 3. Meetings, Incentives, Conferences and Exhibitions: the group-travel organiser **When a corporate client needs to move a hundred people to a conference or incentive trip, ITH plans and executes the entire event - flights, hotels, venues and logistics - as a single package.** - **Serves the same corporate roster** - groups handled in recent years span sectors from consultancy and healthcare to automobiles and banking, meaning the MICE line deepens relationships with clients already using the travel and car businesses. - **Access to global supply** - the company engages directly with tourism boards, destination management companies, global hotel chains and airlines, so it can assemble packages that a standalone travel agent cannot easily replicate. - **Pandemic-proofed by staying close** - when COVID-19 cancelled most events, the company kept engaging with corporates to track their future planning rather than letting the relationships go cold, positioning it for the recovery. ## 4. Outbound and Domestic Leisure: the holiday-package line **ITH designs and sells curated holiday packages - from long-weekend getaways to international safaris - aimed at the same discerning travellers it serves on the corporate side.** - **Packaged, not off-the-shelf** - products are built around themes and seasons: “Long Weekend Specials” to Nepal, Indonesia and Dubai, spring packages to Kashmir and Amsterdam, and summer trips to the Himalayas, all launched in a single year. - **The corporate safety promise travels with you** - during the pandemic, the company collaborated with ITC Hotels to create “Safe Drivable Getaways” using its own “Safe Car” fleet, turning a hygiene protocol into a leisure product. # Group structure and partners **ITH is an associate of the ITC group, with its Chairman and Managing Director on deputation from ITC Hotels Limited, and it extends its global reach through a travel-management alliance spanning over 55 countries.** - **Management drawn from the parent** - the Managing Director, Ashwin Moodliar, is on deputation from ITC Hotels Limited, and the Chairman, Anil Chadha, is the Managing Director of ITC Hotels Limited, so strategic direction flows from the group. - **No subsidiaries, no complexity** - the company has no subsidiary, associate or joint venture, making it a pure-play operating entity with a clean structure. - **Global reach without global offices** - ITH is a partner in the GlobalStar Travel Management network, which has a presence in over 55 countries, giving its corporate clients access to travel services in almost every major destination worldwide without ITH needing its own overseas infrastructure. - **Related-party transactions in the ordinary course** - the company has material transactions with ITC Limited and ITC Infotech India Limited, all conducted on an arm’s-length basis, covering shared services and technology.