Domestic tourism will get a boost from key sporting events, and events like Bharat Mobility Expo, Aero India, Pravasi Bhartiya Diwas, and Mahakumbh
Earlier in the day, the Indian Hotels share rose as much as 2.60 per cent to hit an intraday high of Rs 835 per share
Hotels behemoth records 20% rise in PAT and revenue in Q3
Tata group's hospitality firm Indian Hotels Company Ltd (IHCL) on Friday reported a 29 per cent on-year jump in net profit at Rs 582.32 crore for three months ended December 2024, driven by the consolidation of air and institutional catering business. This was in comparison to Rs 451.95 crore in the corresponding quarter of the preceding fiscal. Also, the company's total income surged by 29 per cent to Rs 2,592 crore in the quarter under review, from Rs 2,003.64 crore in the October-December quarter of the preceding fiscal (FY24), the company said in a regulatory filing. Puneet Chhatwal, Managing Director and CEO, IHCL, attributed the strong quarterly performance to consolidation of air and institutional catering business. "Q3 marks 11 consecutive quarters of record performance with the hotel segment reporting a strong revenue growth of 16 per cent... The revenue performance was driven by 40 per cent increase in new businesses, not like-for-like growth and double-digit growth in sa
Stocks to Buy Today: Indian Hotels share price has turned up after breaking out from an bullish harami candlestick pattern on the daily chart
Tata Group-backed Indian Hotels Company on Thursday said it is "well poised" to achieve the portfolio of 700 hotels by 2030 under its "Accelerate 2030" strategy. The country's largest hospitality firm currently has 360 hotels under its portfolio, including 237 operational and 123 hotels in the pipeline. "IHCL is well poised to achieve its goal of a 700 hotel portfolio under its strategy - Accelerate 2030," the company said. IHCL also said it executed "85 signings and 40 openings in 2024". Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL said, "In line with IHCL's strategy Accelerate 2030, the growth continues to be focused on capital light, accounting for 75 per cent of the year's signings." She added, "The iconic Taj brand remains at the forefront of this growth with 19 signings in 2024. This is reflective of the growing affluence and demand for luxury experiences with signings spanning metros, pilgrimage locations, leisure destinations, state capitals .
IHCL's plans two offerings in Bahrain, Saudi Arabia each
The company expects revenue per available room (RevPAR) growth to remain strong, with like-for-like RevPAR to grow in high single digits
Indian Hotels Company on Tuesday had set a target to grow consolidated revenue 2x to Rs 15,000 crore and double the portfolio of hotels to over 700 by 2030.
Ankur Dalwani, executive vice president and chief financial officer, IHCL, stated that the company will continue to remain net cash positive
Tata Group hospitality firm Indian Hotels Company Ltd (IHCL) has earmarked capex of Rs 5,000 crore to double its number of properties to over 700 by 2030, its Managing Director and CEO Puneet Chhatwal said on Tuesday. Under the 'Accelerate 2030' programme, the company is also looking to double its consolidated revenue to Rs 15,000 crore in the next five years, Chhatwal told reporters at its 'Capital Market Day'. "We started our aspiration, saying that will be the most iconic and most profitable (hospitality) company from South Asia. Having achieved that, we've just tweaked it a bit, and we say we will be the most valued, most responsible and profitable hospitality ecosystem in South Asia...," he said. He further said anything related to the hospitality ecosystem, IHCL would like to be on the forefront of that. "And how do we win with this strategy is our expansion of our portfolio...," he said. Sharing the company's expansion plans for the next five years, Chhatwal said, "IHCL wi
Shares of Coforge hit a new high of Rs 8,236.95, gaining 3%, and zooming 71% in six months, on a strong growth outlook.
Management credits demand-supply gap, shifting demographics for hitting the 'suite spot'
Indian Hotels will open the 1952-built Hessischer Hof in Frankfurt in the next 10 months marking its first foray into continent Europe
The company has witnessed revenue growth of 16.5 per cent YoY in October 2024 with a majority of the growth being contributed by an increase in average room rates
Indian Hotels Company Ltd on Thursday reported a more than three-fold rise in its consolidated net profit to Rs 582.71 crore for the second quarter of 2024-25, helped by exceptional gains from the consolidation of its air and institutional catering business segment TajSATS. The country's largest hospitality firm had registered a net profit of Rs 178.97 crore in the year-ago period, according to a regulatory filing. Its revenue from operations increased to Rs 1,826.12 crore in the June-September quarter from Rs 1,433.20 crore in the corresponding quarter of the last financial year. However, during the period under review, IHCL's expenses also rose to Rs 1,502.01 crore, as against Rs 1,248.68 crore a year ago. Puneet Chhatwal, Managing Director & CEO, IHCL, said, "The second quarter witnessed a strong revival of demand resulting in overall revenue growth of 28 per cent and 16 per cent growth for the hotel segment, marking the best ever Q2 Consolidated EBITDA margin at 29.9 per ...
Ratan Tata News: Tata Chemicals, Indian Hotels Company, Tejas Networks, Voltas, Tata Elxsi and Tata Consultancy Services (TCS) were up in the range of 1 per cent to 4 per cent
Derivatives market update Oct 01: FIIs continue to hold more than 4 long positions in index futures for every short bet. Proprietary trades hold 5 shorts for every bullish bet in index futures.
The 100-key Vivanta MWC will offer elegantly designed rooms and suites, an all-day diner and a specialty restaurant featuring a bar
Shares of Indian Hotels Company hit a new high of Rs 693.35, gaining 4 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes on expectations of strong revenue growth.