Page 5 - Itc Hotels

Centre's new regulations bring cheer to owners of vintage cars in India

But there is a mismatch in the rules and their implementation on the ground

We want to take strategic positions in proximal markets: ITC's Sanjiv Puri

Puri told Business Standard in a recent conversation that the company would increasingly try to go outside India

Street signs: ITC's drag, Indiabulls high rollers, Paytm Money urgency

The foreign direct investment cap in ITC means that BAT cannot directly sell to another foreign entity

ITC Q3 results: Consolidated net profit rises 6.6% to Rs 5,335 crore

Consolidated revenue from operations in Q3FY24 was at Rs 19,484.50 crore, up 2.44 per cent

Year Ender: 10 big events that shaped the Indian corporate world in 2023

From Hindenburg's report on the Adani Group to the signing of the biggest aircraft orders by Air India and Indigo, India saw several important corporate news in 2023. Here are the 10 most significant

Adopted an asset-right model, not asset-light: Top ITC Hotels exec

Chadha said that the new company would have a strong, debt-free balance sheet, with marquee properties and good cash flows

As stake value doubles, govt puts plans to sell ITC stock in cold storage

The Centre is getting around Rs 1,000 crore dividend annually from the cigarette-to-FMCG conglomerate for its 7.87 per cent stake

Behind ITC's hotels demerger

Why ITC threw down the gauntlet with the demerger of its hotels business

ITC Hotels signs management agreement for Welcomhotel Kalimpong in WB

ITC Hotels on Thursday announced that it has signed a management agreement with a construction company for Welcomhotel Kalimpong resort in West Bengal. The 70-key greenfield project will spread over four acres of land and will offer plush rooms with views of the Himalayas and the valley, a company statement said. The company announced the signing of Welcomhotel Kalimpong resort under a management agreement with Pravez Constructions Private Ltd. "With the upcoming property of Welcomhotel Kalimpong, the group will have a strong presence across West Bengal with eight hotels across various segments," ITC Hotels Divisional Chief Executive Anil Chadha said. He also said the 'Welcomhotel' brand trajectory is "growing fast across both business and leisure locations". The upcoming facility in north Bengal will have an all-day dining restaurant, a lounge and a bar among other facilities. The group portfolio currently showcases 25 Welcomhotels across India with more in the pipeline, the com

Chocolate tree, local produce: How hotels went all out for G20 Summit

ITC Hotels was entrusted with the task of catering for the presidential and prime minister's banquets

ITC hits 2-month low; stock down 12 per cent from record high

The board of ITC on Monday approved the Hotel demerger, with share entitlement ratio of 10:1 for the demerged entity.

ITC rises 2% in a weak market as brokerages give thumbs up to Q1 results

The company clocked 16.2 per cent year-on-year (YoY) rise in consolidated net profit to Rs 5,104.9 crore in Q1FY24

Tobacco-to-soap conglomerate ITC approves hotel business spin-off

The decision to spin off its upmarket lodging arm had been widely anticipated by analysts and investors

ITC board approves demerger of hotel business; listing in 15 months

Trademarks jointly used by ITC's other businesses and hotels business would be licensed to ITC Hotels, on mutually agreed terms

ITC Q1FY24 results: Net profit rises 16% to Rs 5,180 cr, revenue down 6%

The company also announced acquisition of 45.36% stake in International Travel House Limited and 25% stake in Maharaja Heritage Resorts Limited

ITC holding in hotel business key to its success, says CMD Sanjiv Puri

Move will help it use ITC logo and brands; entire demerger process may take 12-15 months

ITC AGM, Q1FY24 nos: When will the stock breakout from consolidation mode?

ITC shares have corrected 10 per cent from their record high level of Rs 499.6, hit on July 24, 2023, as investors booked profit post the hotel business' demerger announcement

ITC, select Marriott International hotels promote millet in India, APAC

The ITC Hotels on Monday said it has embarked on an initiative to introduce an expansive range of millet-based bread, available across ITC Hotels and select Marriott International hotels in India and the Asia-Pacific (APAC) region. Other millet-based food will also be available in APAC region countries such as Japan, South Korea, Australia and Indonesia. It seeks to contribute significantly to India's role in advocating the benefits of millets globally, commemorating 2023 as the International Year of Millets in partnership with the United Nations, the hotel chain said in a statement. These millet bread, brimming with essential nutrients, cater to the discerning taste of health-conscious consumers, it said. The menu boasts of offerings like Sorghum Sundried Tomato Sourdough Bread, Foxtail Millet and Carrot Bread, Multi Millet and Turmeric Loaf, and Pearl Millet Focaccia each promising an exquisite culinary experience. Beyond the realm of bread, the gastronomic journey extends to I

ITC hotel demerger financially win-win, says chairman Sanjiv Puri

Financial ratios to improve significantly for ITC, while new entity will start with strong balance sheet

Demerged hotels biz will have a strong balance sheet: ITC chairman

Chairman and managing director of ITC Limited Sanjiv Puri on Thursday said that the proposed demerged hotels business will have a strong balance sheet and also be debt-free. Speaking to analysts over concall, Puri said the new entity when it comes into being, will be able to raise capital, either through debt, equity or from strategic investors when required. This is up to to the board of the new entity to determine when such capital is required, Puri said, adding that it will work on a asset-light model requiring modest amount. On July 24, the board of ITC gave in-principle approval to demerge the hotels business into a new entity to be listed pursuant to a scheme of arrangement. In the new entity, ITC will directly hold 40 per cent of equity while the balance 60 per cent will be owned by the shareholders of the company. Puri said "ITC will stay invested in the hotels business with this holding and also draw synergies for its foods vertical from the demerged entity." Puri said "