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
IHCL's plans two offerings in Bahrain, Saudi Arabia each
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
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 ...
Rajscape Hotels manages 16 boutique properties under the brand 'Tree of Life Resorts & Hotels' across India
The 100-key Vivanta MWC will offer elegantly designed rooms and suites, an all-day diner and a specialty restaurant featuring a bar
Delhi High Court has ordered the MD of Taj Iconic to pay Rs 10 lakh in damages and Rs 5 lakh in costs to IHCL, in a trademark lawsuit filed by the Tata Group
The Indian travel and tourism sector is well-positioned to capitalise on an upcycle, driven by factors, including the demand-supply gap, penetration opportunities in Tier II and Tier III markets and rebound in foreign tourist arrivals, according to Indian Hotels Company Ltd Managing Director and CEO Puneet Chhatwal. In his address to shareholders in the company's Annual Report for 2023-24, Chhatwal said the Tata group hospitality firm is uniquely placed to capitalise on the opportunities provided by a dynamically growing industry. The company plans to make its 'Gateway' brand -- a full-service hotel offering in the upscale segment targeting emerging micro markets in metros, Tier II and Tier III cities -- 100 hotels portfolio by 2030, he added. "In India's evolving economic landscape, tourism has emerged as a powerful force driving not only economic growth but also forging a path towards a brighter and more inclusive future. With its rich cultural heritage and warm traditions, ...
Indian Hotels Company (IHCL) on Thursday announced a strategic partnership with CG Hospitality with a plan to grow its portfolio in the Indian sub-continent to 25 hotels by 2025, involving a total investment of around Rs 4,000 crore. The portfolio of 25 properties by 2025, will include 11 operating hotels with 900 keys and will add another 14, which will be under one platform -- 'Ekyam' -- to pursue opportunities in destinations that offer adventure experiences across the Indian Ocean and Greater Himalayan regions and wildlife escapes, IHCL Managing Director and Chief Executive Officer Puneet Chhatwal told reporters. IHCL's Vice President Commercial Ram Maheshwari will lead the 'Ekyam' platform, he added. "We have a long-standing association with CG Hospitality, a member of the renowned CG Corp Global for over two decades. We are delighted to announce that the next phase of this partnership will pursue accelerated growth in the Indian sub-continent. "This collaboration under the ..
Indians travelling because of higher disposable income and priorities have changed: Puneet Chhatwal
Tata Group hospitality firm Indian Hotels Company Ltd (IHCL) is planning to increase the number of skill training centres to 50 across India by next year, apart from accelerating online training in partnership with group firm TCS to meet its target of skilling 1 lakh people by 2030, a senior company official said. The company, which has identified skilling as one of the areas of focus under its environmental, social, and corporate governance initiative Paathya, is focussing on rural areas for the skill training programme and is confident that more than 25 per cent of the 1 lakh people who will be skilled by 2030 will be women. It is trying to play its part in bridging the demand-supply gap of skilled workforce in the hospitality industry, which has witnessed robust growth in the last couple of years after the pandemic. "The industry has come back in a very strong way... In the last few quarters in terms of growth, (if it) is anything to go by, we are looking at a very robust path in
Tata group hospitality firm Indian Hotels Company Ltd is looking to strengthen its leadership position in spiritual tourism, developing properties in noted locations in India with spirituality expected to play a more significant role globally, according to a top company official. The company currently has 66 hotels either operational or under development at spiritual destinations, including the latest hotspot Ayodhya, and will continue to grow the portfolio. "I think spiritual destination and spirituality is going to play a more significant role across the globe. Not just for us, but generally for the world population, a very important role and I'm glad to say that we are at the forefront of it," company Managing Director & CEO Puneet Chhatwal told PTI. On why the company sees a huge opportunity in the segment, Chhatwal said, "spiritual destinations are a safer bet because people in good or in bad times go to get the blessings of the Lord, whether it's any kind of good, bad, sad ..
Indian Hotels Company (IHCL) on Tuesday announced the signing of its first 77-key hotel in Dibrugarh, Assam, under the Ginger brand. "This signing is in line with our commitment to north east India where we have been rapidly expanding our footprint. Dibrugarh, an industrial city in Assam, is an important centre for tea trading and serves as a gateway to prominent tourist destinations in the region," IHCL Executive Vice President, Real Estate and Development, Suma Venkatesh said in a statement. The company has partnered with Vela Hotel & Resort LLP for this greenfield Ginger hotel. With the addition of this hotel, IHCL will have six hotels in Assam, including four under development.
The Indian Hotels Company (IHCL) reported a 18 per cent growth in consolidated Profit After Tax (PAT) to Rs 451.95 crore in the December quarter, on strong performance in all verticals. The hospitality company's PAT stood at Rs 382.71 crore in the year-ago period, the company said in a statement. The company's revenue from operations grew 16.49 per cent to Rs 1,963.84 crore in the third quarter of the ongoing fiscal compared to Rs 1,685.80 crore a year ago. IHCL Managing Director and CEO Puneet Chhatwal told PTI that the performance during the quarter was driven by strong performance in all verticals. "IHCL reported an all-time high consolidated PAT margin of 22.6 per cent, marking seven consecutive quarters of record financial performance. This robust performance was enabled by 'same store hotels' clocking RevPAR premium across markets and segments, and the scaling of new businesses," he said. The company's new business vertical comprising Ginger, Qmin, ama Stays & Trails, The ..
The hospitality giant reported a 14.1 per cent uptick in revenue to Rs 1,963.24 crore from Rs 1,685.80 crore in the year-ago period
As per analysts' estimates, Chhatwal, who is also the Managing Director and CEO of Indian Hotels Company Ltd (IHCL), said the sector had clocked a 14 per cent growth in Revenue Per Available Room
The hotel has spent close to Rs 250 crores in renovation. These changes - a homage to the past while future proofing the hotel - have been made to cater to the evolving needs of patrons
A combination of asset-light and asset-heavy is the right formula, driving absolute returns in its owned portfolio where the operating leverage is currently higher, he said
Indian Hotels Company Ltd on Friday said its consolidated profit after tax (PAT) rose 37 per cent to Rs 167 crore in the second quarter ended September 30, 2023. In the year-ago period, the PAT was Rs 121.56 crore. Total income from operations rose to Rs 1,480.87 crore in July-September period from Rs 1,257.57 crore in the corresponding quarter of 2022-23, it said in a BSE filing. Total expense too was higher at Rs 1,248.68 crore as compared to Rs 1,101.20 crore. "We opened 8 hotels and signed 17 more in the first half of the fiscal thereby maintaining an industry-leading pipeline of 82 hotels. India's economic momentum coupled with higher consumer spends augurs well for the industry. Business on the books remains strong and the company is well positioned for the traditionally stronger second half of the financial year," Puneet Chhatwal, MD & CEO, IHCL, said. The company also informed about the acquisition of 2,59,000 equity shares of its subsidiary Piem Hotels held by New Vernon