Anil Chadha, Managing Director of ITC Hotels, “Luxury is no longer restricted to big hotels. The domestic consumer is willing to pay. Give him a good product and he will come back. Our boutique brand Storii is doing quite well.” Besides investing in its flagship brand ITC and opening ITC Narmada (Ahmedabad), ITC Kohenur (Hyderabad), ITC Royal Bengal (Kolkata) and the most recent ITC Ratnadipa in Colombo, over the last few years, ITC has introduced two new brands—ITC Mementos, a luxury brand and Storii by ITC, a boutique brand. Both are managed by ITC as part of its ‘asset-right’ model.