Page 4 - Ihcl

Hotel stocks order room service: See strong Q1, a stronger outlook

Inbound tourism, higher occupancies, and lean cost model are positives for listed hospitality majors

With new hotel brands, ITC checks in with 'house of brands' model

ITC has launched two brands - Storii, in the boutique premium segment, offering immersive experiences, and Mementos, a collection of unique luxury properties across destinations

Salaries of top managers rise as occupancy in hospitality sector improves

The remuneration of directors of hotel companies, like IHCL and EIH Ltd, has seen a rise between 8 and 250 per cent in FY22 year-on-year (YoY)

Best yet to come for hospitality sector: IHCL CEO Puneet Chhatwal

The Tata Group's hospitality arm reported a record quarterly performance for the June quarter as all-round growth helped the firm surpass the 2019-20 operational performance

IHCL's Ginger brand continues expansion, on track to scale up to 125 hotels

IHCL has traditional hotel brands like Taj, Vivanta, SeleQtions, and new-age ones like Ginger and Ama

Hospitality deals pick up after a lull as HNIs, family offices check in

Family offices, high net-worth individuals and institutional investors are looking at the sector, say advisory firms

Indian Hotels re-appoints Puneet Chhatwal as MD & CEO for 5 yrs from Nov 6

Tata group hospitality firm Indian Hotels Company Ltd (IHCL) on Tuesday said its board has approved the re-appointment of Puneet Chhatwal as Managing Director and CEO for another term of five years.

Indian Hotels to stay the course on asset monetisation for growth

Hospitality chain says its needs 'see what we need and what we don't' as it goes on monetisation plan.

IHCL plans to raise women participation in workforce to 25% by 2025

IHCL's Managing Director and CEO Puneet Chhatwal said the company has been championing the cause of women and enhancing their participation, both within and outside the organisation

Business segment recovery to drive growth for Indian Hotels Company

While growth metrics should improve as the leisure segment and business travel picks up, the company's March quarter performance was weaker than expected

Indian Hotels Company posts Rs 71.5 crore profit in March quarter

Tata group hospitality firm Indian Hotels Company Ltd (IHCL) on Wednesday reported a consolidated net profit of Rs 71.57 crore in the fourth quarter ended on March 31, 2022. The company had posted a consolidated net loss of Rs 97.72 crore in the same period of the previous fiscal, IHCL said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 872.08 crore as against Rs 615.02 crore in the year-ago period. Total expenses during the fourth quarter stood at Rs 894.16 crore as compared to Rs 754.15 crore in the same period a year ago, the company said. For the fiscal ended March 21, 2022, IHCL said its consolidated net loss narrowed to Rs 264.97 crore. The consolidated net loss was at Rs 795.63 crore in the previous fiscal. Consolidated revenue from operations in 2021-22 stood at Rs 3,056.22 crore as compared to Rs 1,575.16 crore in 2020-21, the company said. The Board of Directors at their meeting held on Wednesday have recommended

Hotel bookings for March-May period cross pre-pandemic levels, says IHCL MD

Hotel bookings for the March-May period this year have surpassed the pre-pandemic levels of the same period of 2019, led by strong domestic demand, Indian Hotels Co Ltd (IHCL) Managing Director & CEO Puneet Chhatwal said on Tuesday. The head of the Tata group hospitality firm said that the long-term outlook of the industry is going to be far more positive than it was 5-10 years ago, although the volatility and geopolitical sentiments around the world amid the fear of the fourth wave of COVID-19 makes it difficult to forecast beyond 100 days. "What we are experiencing in the last four to six weeks is such a strong revival. I can definitely speak for IHCL that our March, April and May (2022) business on the books is higher than March, April and May of 2019," Chhatwal said. He said the bounce back in the business is led by domestic demand as "international is very limited for 'bubble flights' or OCI (overseas citizen of India)". While the international flights is scheduled to resume .

Tata Sons to dilute stake in Indian Hotels; looks to raise Rs 2,000 crore

On a standalone basis, IHCL's gross debt was Rs 1,665 crore and it had liquidity of Rs 580 crore, as of December last year

Indian Hotels expands presence in Uttarakhand with new resort

Indian Hotels Company Ltd (IHCL) on Tuesday announced the addition of its second hotel in Rishikesh with the signing of a new SeleQtions resort. The formerly operating resort will be rebranded as Anand Kashi, an IHCL SeleQtions resort post renovation. Suma Venkatesh, Executive Vice President Real Estate & Development, IHCL, said, "IHCL remains committed to the vast tourism potential of Uttarakhand. This will be our second hotel in Rishikesh, the Yoga Capital of the world. This exciting new addition to our portfolio will offer travellers yet another breath-taking location to explore the beauty and myriad experiences the state offers." The 24-room resort is located at the foothills of the Himalayas in the Tehri Garhwal region of Uttarakhand. With the addition of this hotel, IHCL will have seven hotels across brands, including three under development in Uttarakhand.

Soon, new Ginger Hotel by an all-woman engineering team in Mumbai

This marquee project is a significant step forward in promoting varied opportunities for women in other-wise traditionally male-dominated industry like construction

Tata Cha to be moved from Tata Consumer Products to IHCL subsidiary

This will enable Tata Consumer Products to better focus on its core FMCG business, the company said

Standalone brands, hospitality chains shift into overdrive as demand rises

Other legacy brands are bracing to wrest the odds in their favour by creating niches within their portfolio for offering bespoke services to their guests

Indian Hotels launches new exclusive Taj The Chambers club in London

The Indian Hotels Company Limited (IHCL) has launched its newest membership club, Taj The Chambers, in London as part of a wider Re-imagined worldwide drive for India's leading hospitality brand.

IHCL's Taj is the strongest hotel brand globally in 2021: Brand Finance

In 2021, Hilton, Hyatt & Holiday Inn are the most valuable brands in the hotel industry

IHCL and BACL announce pact for 775-room hotel at Bengaluru airport

It will be a combination of a 450-room 'Vivanta' and a 325-room 'Ginger' hotel