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| Mr. Ramesh Ramanathan, MD, Sterling Holidays |
Highlights of Q3 2011 Results:
^ The quarterly Total Operating Income of the Company was reported at Rs. 18.06 crores, as compared to Rs. 12.19 crores for the same period last year, representing a 48% growth in revenues.
^ Total Income from sales of Vacation Ownership Plans was Rs. 9.35 crores, as against Rs. 3.47 crores for the same period last year an increase of 169%.
^ The Company's Sales Operations has been expanding rapidly, adding Mumbai, Delhi, Chandigarh and Lucknow in Q3 alone. The Company plans to continue its market expansion by opening up more sales territories.
^ Q3 also saw the Company add three new resorts to its portfolio - Woods n Spice in Thekkady, Emerald Bay in Karwar and a second resort in Goa (Villagio). In addition, it is in the process of negotiating to add more resort destinations to its footprint.
Mr. Ramesh Ramanathan, MD, Sterling Holidays said ''The Q3 vacation ownership sales has shown encouraging results in all new markets and existing locations. The growth in Vacation Ownership is a strong indicator of the continued faith in the brand as well as an outcome of the growth strategies adopted. With this momentum in growth, our investments in expanding our resorts network will continue at a rapid pace. In fact, to enhance our service offering, we are shutting down two of our resorts - Green Vistas, Munnar & Lake View, Kodaikanal for renovation and a complete makeover. We hope to complete the renovation and open the doors to welcome our guests in time for the 2012 summer season"
About Sterling Holiday Resorts (India) ...!
Sterling Holiday Resorts (India) Limited is a pioneer in Vacation Ownership and a leading Leisure Hospitality company in India. Sterling was incorporated in 1986 with the vision of delivering Great Holiday experiences to Indian Families.
To achieve this vision, the company pioneered Vacation Ownership in India & set about building a network of leisure resorts at some of the best holiday destinations in India.
Now, Sterling has 17 resorts located in Darjeeling, Gangtok, Goa, Karwar, Kodaikanal, Lonavala, Manali, Munnar, Mussoorie, Ooty, Puri, Thekkady, Yelagiri and Yercaud. The company also has 13 additional sites where it plans to add new resorts in the coming years.
For more do visit: www.sterlingholidays.com
For further information, please contact:
Deepak Kapoor/ Hardik Desai
Mobile: 9833528474/9819562380/
E mail: deepak@torquemail.com/ hardik@torquemail.com
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