India’s second-largest hotel chain , IHCL (Indian Hotels Company ), posted a net profit of Rs 8.12 Crore for the quarter ended September 30, 2011. The company had posted a loss of Rs 6.30 Crore for the corresponding quarter a year ago.
Mr. Raymond Bickson, MD, IHCL said, "Notwithstanding the foregoing, the company improved the average room sold per day by 8% and to that extent, the performance during the period, which is generally subdued because of the off season, was satisfactory."
Income from operations grew by 9% to Rs. 357 Crore during the quarter as against Rs 328 crore posted in the same quarter a year earlier.
According to company officials an overall room occupancy of 59% and Rs 7,961 as average room rate during the September (2011) quarter.
The IHCL, a part of the Tata Group, gained a net amount of Rs 10.64 crore during the quarter as interest income on a deposit refund received following surrender of leasehold plot of land in terms of a Supreme Court order on a disputed allotment in Noida.
The IHCL’s total debt stood at Rs. 3,400 Crore, while the standalone debt stood at Rs. 2,300 crore for the September quarter. Its debt; equity ratio at the consolidated level was 1.1 and at the standalone level 0.79.
In overall , 13 new properties are supposed to be added in this 2011-12 financial year with 1,840 rooms.
About Indian Hotels Company..!
The IHCL (Indian Hotels Company) and its subsidiaries, collectively known as Taj Hotels Resorts & Palaces, is one of Asia's largest and finest group of hotels.
Incorporated by the founder of the Tata group, Mr. Jamsetji Tata, the company opened its first property, the Taj Mahal Palace, in Bombay in the year 1903. The Taj, a symbol of Indian hospitality, completed its centenary year in 2003.
Business Area..!
Indian Hotels Company operates in the luxury, upper upscale, upscale and value segments of the market through the following:
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| Raymond Bickson, MD, IHCL |
Mr. Raymond Bickson, MD, IHCL said, "Notwithstanding the foregoing, the company improved the average room sold per day by 8% and to that extent, the performance during the period, which is generally subdued because of the off season, was satisfactory."
Income from operations grew by 9% to Rs. 357 Crore during the quarter as against Rs 328 crore posted in the same quarter a year earlier.
According to company officials an overall room occupancy of 59% and Rs 7,961 as average room rate during the September (2011) quarter.
The IHCL, a part of the Tata Group, gained a net amount of Rs 10.64 crore during the quarter as interest income on a deposit refund received following surrender of leasehold plot of land in terms of a Supreme Court order on a disputed allotment in Noida.
The IHCL’s total debt stood at Rs. 3,400 Crore, while the standalone debt stood at Rs. 2,300 crore for the September quarter. Its debt; equity ratio at the consolidated level was 1.1 and at the standalone level 0.79.
In overall , 13 new properties are supposed to be added in this 2011-12 financial year with 1,840 rooms.
About Indian Hotels Company..!
The IHCL (Indian Hotels Company) and its subsidiaries, collectively known as Taj Hotels Resorts & Palaces, is one of Asia's largest and finest group of hotels.
Incorporated by the founder of the Tata group, Mr. Jamsetji Tata, the company opened its first property, the Taj Mahal Palace, in Bombay in the year 1903. The Taj, a symbol of Indian hospitality, completed its centenary year in 2003.
Taj Hotels Resorts and Palaces comprises 93 hotels in 53 locations, including 25 Ginger hotels Pan India, with an additional 16 international hotels in the Maldives, Malaysia, Australia, UK, US, Bhutan, Sri Lanka, Africa and the Middle East. From world-renowned landmarks to modern business hotels, idyllic beach resorts to authentic grand palaces, each Taj hotel offers an unrivalled fusion of warm Indian hospitality, world-class service and modern luxury.
The most significant additions to the Taj portfolio have been The Pierre, the iconic landmark hotel on New York's 5th Avenue, the Taj Cape Town in South Africa and the latest Taj Falaknuma Palace in Hyderabad.
In the year 1993, the company established the Indian Institute of Hotel Management in Aurangabad, Maharashtra, in western India.
Business Area..!
Indian Hotels Company operates in the luxury, upper upscale, upscale and value segments of the market through the following:
- Taj is the flagship brand for the world’s most discerning travelers seeking authentic experiences in luxury. Besides luxurious living and fine dining, Taj Hotels also promise a whole new experience of tranquility and total ‘wellness’ through Jiva Spas, a unique concept that brings together the wisdom and heritage of the Asian and Indian philosophy of wellness and well-being.
- Taj Safaris is India's first and only wildlife lodges circuit that allows travelers to experience the unparalleled beauty of the Indian jungle amidst luxurious surroundings.
- The Gateway Hotel chain is a pan-India network of hotels and resorts that offers business and leisure travelers a contemporary hotel experience.
- Vivanta by Taj provides the new generation of travelers a contemporary and creative hospitality experience that matches their work hard, play hard lifestyles.
- Ginger is Indian Hotels Company ’s revolutionary concept in hospitality for the value segment.
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