Puneet Chhatwal

The Tata Group's hospitality arm reported a record quarterly performance for the June quarter as all-round growth helped the firm surpass the 2019-20 operational performance

The company's revenue surged by 249.45 per cent to Rs 1,293 crore during the quarter under review, compared to Rs 370 crore in the year-ago period.

Tata group hospitality firm Indian Hotels Company Ltd (IHCL) on Tuesday said its board has approved the re-appointment of Puneet Chhatwal as Managing Director and CEO for another term of five years.

The Indian Hotels Company (IHCL) is eyeing to build a portfolio of 300 hotels and strengthen and scale up new businesses, including Qmin, 7Rivers, ama Stays & Trails, under its Ahvaan 2025. We have signed over 100 hotels and opened over 40 hotels in the past five years, becoming the fastest growing hospitality company in India. Ahvaan 2025 will further accelerate our profitable growth by scaling our diversified brand portfolio across traditional and new businesses," IHCL Managing Director and Chief Executive Officer Puneet Chhatwal told reporters on Monday. IHCL aims to build a portfolio of 300 hotels, clocking 33 per cent EBITDA margin, of which 35 per cent EBITDA share contribution is expected to come from new businesses and management fees by 2025-26, he said. The hospitality company is also focused to strengthen the balance sheet with focus on free cash flows and be a zero net debt company, he said. Chhatwal said Ginger will be an important growth vehicle and will scale to 125

Of the 18 launches that IHCL is eyeing, 7-10 would be under the Ginger brand

Rakesh Sarna is stepping down on September 30