Page 5 - Ihcl

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

Meet Peter Kerkar, the man behind a travel firm's unpleasant journey

A travel and tourism competitor, who met Kerkar at corporate events, says, "He seemed to have many irons in the fire, and it was hard to tell how these businesses were all doing"

Indian Hotels looks East, signs three-hotel deal with Ambuja Neotia Group

This and three other properties being developed by the Kolkata-based Group will enable IHCL to double the number of rooms to 2,000 in four years in a strategically important region for the company

Hospitality firms may go for fund raising to stay afloat as recovery eludes

EIH's successful rights issue to help firm reduce debt substantially, paves way for more companies to actively consider fund raising

Indian Hotels to acquire remaining stake in ELEL from Nanda family

The buyout will make IHCL, the 100% owner of Sea Rock Hotel

Sales, revenue to be impacted in Q1, Q2 of FY21 due to Covid-19: TAJGVK

In a regulatory filing, the company said since the situation is exceptional and is changing dynamically, it is not in a position to gauge with certainty the future impact on its operations

The AGM: Obituary of a unique Dalal Street tradition

These shareholder-led AGMs are a throwback to the pre-reforms era when the annual meetings served to engage and reassure shareholders and often hit them up for more capital

Tata's IHCL plays catch up with Marriott, plans to open 1 hotel each month

The new destinations that will be opened include the Taj Fateh Prakash Palace in Udaipur, the Devi Ratn in Jaipur and the Taj Convention Center Goa, in central Goa

IHCL gets permission to build flagship hotel for Ginger brand

Ginger now operates 50 hotels, and is developing another 16

CG Hospitality joins IHCL to open Taj Jumeirah Lakes Towers in Dubai

As per the agreement, IHCL will manage and operate the property, CG Hospitality said