Howard Hotels Limited was incorporated as a Private Limited Company in Dec.'89 by Mr.S.R.Narula and Mr.Sandeep narula with an object of setting up a Three Star hotel at Fatehabad Road, Agra. The company was sunsequently converted into a Public Limited Company on Jan.'94.
During the past years, company was mainly engaged in acquiring land, construction of Hotel building and placing various orders of plant and machinery required for the Hotel. In year 1990 the company acquired about 2700 Sq.mtr of land at Mustkil Tajganj, Fatehabad Road, Agra. The building plans were approved by the Agra Development authority and collector in 1991 and company awarded the building civil work and other related work in 1992. The Company finalised the various plant and machinery orders in 1993 and entered into an affiliation agreement with Best Western International Inc. and also got his project appraised by the PICUP.
During the financial year 1995-96, the company has almost completed the Hotel at Agra. The company has also entered into a hotel operation agreement with Sarover Park Plaza Hotel & Resorts Pvt.Ltd. a group of ex-Oberoi team. Sarover Park Plaza Hotel has a tie-up with 'Park Plaza Hotels & Resorts'- a California based multinational giant. Sarover Park Plaza has agreed to make available and allow the use of the information concerning industrial commercial and scientific knowledge and also expertise, expeience, skill and know-how for commencement and operation of the Hotel on agreed percentage profit sharing.
The Directors are hopeful that managing the hotel by the 'SPP' will certainly increase the profitablity,quality in service and hospitality.
During the year 1999-2000, total foreign exchange earned by the Company is 99 lakhs.