Indian Hotels Q1 net loss at Rs.34.82 crore

Indian Hotels Company Ltd. reported a consolidated net loss of Rs.34.82 crore for the quarter ended June 30, 2014, a filing in the Bombay Stock Exchange by the company said here Monday.

The company had posted a net loss of Rs.19.09 crore for the corresponding period of the last fiscal.

However, consolidated net sales of the company went up to Rs.937.46 crore for the quarter under consideration as against Rs.908.70 crore for the corresponding period year ago.

Hospitality major Indian Hotels Company Ltd last week announced the appointment of Rakesh K. Sarna as managing director and chief executive officer.

In a statement issued here, Indian Hotels - the company that runs the Taj group of hotels - said Sarna will take charge Sep 1 onwards from Raymond N. Bickson who will step down Aug 31 after an 11-year stint at Indian Hotels.

According to Indian Hotels, Sarna has over 30 years experience in leadership positions with Hyatt Hotels.

He was the group president of Americas and executive vice president at Hyatt Hotels Corporation with a portfolio of 146 full service, 233 select service hotels and 15 vacation ownership facilities across North America, the Caribbean and Latin America with 47,000 employees.