Q3 DELIVERS A STRONG PERFORMANCE FOR IHCL
6% Growth in Revenue Y-o-Y
7% Growth in EBITDA Y-o-Y
16% Growth in Profit After Tax Y-o-Y
Mumbai, February 12, 2018: Indian Hotels Company Ltd, a leading hospitality company in South Asia reported its Consolidated and Standalone financials for the third quarter ending, December 31, 2017.
CONSOLIDATED FINANCIAL RESULTS FOR QUARTER ENDING DECEMBER 31, 2017
Commenting on Q3 performance, Mr. Puneet Chhatwal, MD and CEO of IHCL said, “For the third quarter our company demonstrated a good performance through enhanced revenues and cost optimization measures. During the year we have added and upgraded an inventory of over 1,300 rooms including our flagship hotel Taj Mahal Palace in line with our efforts to consolidate our positioning of being an iconic and profitable hospitality company.”
Mr.Chhatwal added, “The Industry is entering the strongest upcycle where demand is outpacing supply of rooms. We look forward to benefiting from this growth given our strong network of hotels in India and key gateway cities of the world.”
Mr.Giridhar Sanjeevi, CFO said: “As a consequence of balance sheet management initiatives combined with the recent successful rights issue, our debt to equity ratio of the company has reduced to 0.47 and it remains our focus to support growth while containing our leverage ratios.”
AWARDS & RECOGNITION
About The Indian Hotels Company Limited
Indian Hotels Company Limited (IHCL) and its subsidiaries, bring together a group of brands and businesses that offer an unrivalled fusion of warm Indian hospitality and world-class service. IHCL operates 142 hotels globally across 4 continents, 11 countries and 71 locations. Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - the Taj Mahal Palace, in Bombay in 1903.
The iconic Taj Hotels Palaces Resorts Safaris is Indian Hotels Company Limited’s (IHCL) flagship brand for the world’s most discerning travellers seeking authentic experiences in luxury. The brand’s unique hotel portfolio comprises world-renowned landmarks to modern business hotels, idyllic beach resorts to authentic grand palaces. Vivanta by Taj provides new generation travellers a contemporary and creative hospitality experience that matches their work-hard, play-hard lifestyles. The Gateway Hotel brand welcomes guests to a refreshingly enjoyable and hassle-free experience, anytime, everywhere, offering the highest consistency in quality, service and style. Ginger, IHCL’s revolutionary concept in hospitality for the budget segment in India is also its largest. Ginger Hotels are designed and operated with the ethos of providing reliable, safe and clean rooms that provide guests with a restful sleep experience coupled with a refreshing and reviving start to each day. Taj SATS Air Catering, a joint venture of the Indian Hotels Company, and SATS (formerly known as Singapore Airport Terminal Services), is the market leader in airline catering.
The Indian Hotels Company Limited (IHCL) is amongst South Asia’s largest Indian hospitality company by market capitalization. It is primarily listed on the BSE and NSE.
For more information, please contact: Rakhee Lalvani I firstname.lastname@example.org