| He said there was an all-round buoyancy in the hotel business with all segments "doing well". |
| "The average occupancy aggregating for all 60 hotels (of Indian Hotels) is likely at 75 per cent against 70 per cent a year ago. The average occupancy in the peak season is over 90 per cent against 70 per cent three years ago," Misra told reporters on the sidelines of the India Economic Summit 2004. |
| He said the average room tariff was up 10 per cent on year for 2004-05""though it was difficult to detail the exact figures, given the wide range in the tariff structure. |
| "Prices have firmed up due to the strong demand and tariff for most hotels is beginning to come back to the peak levels of 2000-2001," Misra said. |
| Indian Hotels had posted a 422 per cent rise in net profit and a 25 per cent rise in sales on year for the July-September quarter. The sharp rise in profit was aided by an extraordinary income of Rs 16.58 crore on account of sale of business. |
| On the company's plans to acquire new properties, Misra said the Taj Group would shortly open a hotel in Seychelles. |
| "It is an existing property in Seychelles called Denis Island, which will be renamed Taj Denis Island. We are likely to sign the management contract for this property by the end of December," he said. |
| The company will also open the Green Kov resort at Kovalam, Kerala later this month, Misra said. |
| "We have already opened a hotel in Mauritius on November 30. We have also launched Umed Bhavan at Jodhpur and refurbished Usha Kiran Palace in Gwalior," he added. |
| On November 25, Crisil MarketWire had quoted Indian Hotels Managing Director Raymond N Bickson as saying the company was scouting properties in Shanghai, Beijing, London, and New York for possible acquisition. |
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