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Mac Hotels Ltd.

BSE: 541973 Sector: Services
NSE: N.A. ISIN Code: INE004Z01011
BSE 00:00 | 16 Sep 43.55 0
(0.00%)
OPEN

43.55

HIGH

43.55

LOW

43.55

NSE 05:30 | 01 Jan Mac Hotels Ltd
OPEN 43.55
PREVIOUS CLOSE 43.55
VOLUME 6000
52-Week high 68.00
52-Week low 43.55
P/E
Mkt Cap.(Rs cr) 13
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 43.55
CLOSE 43.55
VOLUME 6000
52-Week high 68.00
52-Week low 43.55
P/E
Mkt Cap.(Rs cr) 13
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mac Hotels Ltd. (MACHOTELS) - Chairman Speech

Company chairman speech

Dear Shareholders

I am pleased to announce the results of your esteemed Company in the midst of theunprecedented onslaught of the current Pandemic of Covid-19 plaguing the world today.Needless to say that the industry has taken a direct hit as the core business of thissector depends of movement of people across geographies which came to a standstill afterthe Pandemic struck the world. And as we are dealing with the Charter Business we wereaffected right from December 2019 when Covid -19 first surfaced in Wuhan in

China. The Russian Chartered dropped immediately and hence there was a loss in revenuewhich could not be replaced at the last moment with the domestic traveller as in March thevirus had arrived in India as well. As we announce this year's results the scenario hasnot changed much with the only ray at the end of the tunnel being the announcement of thearrival of Covid vaccine.

The Pandemic has redefined people's priorities and made them sit up and take note ofwhat is happening around the world. The world came to a halt overnight as lock-down afterlock-down were announced by cities around the world. People were shocked with disbeliefand those who were invincible once were brought back to the ground.

We at Mac Hotels Limited though badly hit and down are not out. We are holding groundwith a never say die attitude when all odds are against us being in the hospitalityindustry; we know that this too shall pass. We will come out triumphant and victorious.Our management have begun thinking out of the box and exploring avenues not yet explored.We are converting our empty room inventory into work stations with high speed Wificonnectivity for the digital Nomads to take advantage of the new normal where Companieswill allow its employees to work from home. Most will prefer to live a nomadic life wherethey can explore the world while still at work-thanks to the advent of high speedconnectivity around the world.

The Company is also exploring the concept of using their properties as "ONE STOPSHOP" where a visitor can use his leisure time to shop around the property which willbe converted into a virtual shopping mall. He could pick his product and place the orderand lo and behold before he is home the product will be delivered to his house.

The Company is also exploring Sky Kitchen concepts whereby people will order their foodthrough food aggregators like Swiggy or Zomato and the Restaurant owners will compete witheach other to take a market share of this growing segment. We could give variety andquality to a wider market in and around the location of our hotel or resort.

We are also looking at possibilities of upgrading our properties to cater to the highstandards expected by the middle class travellers. The quarantine months could be wellused to upgrade our properties and bring them to international standards. Efforts are onto get Bankers to fund or investors to invest into such activity which will give us anedge over our competitors when the dust settles and we come out on the other side of thisPandemic.

The GOA brand name has gained tremendously over the years and has fortified itselfduring this pandemic as a most sought after destination for the domestic travellers fromacross the country. We have seen a sudden surge in arrivals the moment the doors wereopened for the domestic tourists from India. Although the International Tourist arrivalsare still not confirmed we are expecting the good traction from abroad once this happensas every quarantined individual wants to revenge travel after months in houseboundconditions. All this augers well for your Company as we are gearing up to take advantageof the pit fall once it happens.

Chairman
Edwin E. R. Cotta

.