Page 2 - Indian Hotels Company

Business segment recovery to drive growth for Indian Hotels Company

While growth metrics should improve as the leisure segment and business travel picks up, the company's March quarter performance was weaker than expected

Indian Hotels turns in Rs 72 cr profit in Q4 against a loss last year

Firm reports consolidated revenue of Rs 872.08 crore during the quarter as against Rs 615.02 crore in the year-ago period

Indian Hotels Company posts Rs 71.5 crore profit in March quarter

Tata group hospitality firm Indian Hotels Company Ltd (IHCL) on Wednesday reported a consolidated net profit of Rs 71.57 crore in the fourth quarter ended on March 31, 2022. The company had posted a consolidated net loss of Rs 97.72 crore in the same period of the previous fiscal, IHCL said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 872.08 crore as against Rs 615.02 crore in the year-ago period. Total expenses during the fourth quarter stood at Rs 894.16 crore as compared to Rs 754.15 crore in the same period a year ago, the company said. For the fiscal ended March 21, 2022, IHCL said its consolidated net loss narrowed to Rs 264.97 crore. The consolidated net loss was at Rs 795.63 crore in the previous fiscal. Consolidated revenue from operations in 2021-22 stood at Rs 3,056.22 crore as compared to Rs 1,575.16 crore in 2020-21, the company said. The Board of Directors at their meeting held on Wednesday have recommended

IHCL announces launch of new Taj Hotel with branded residences in Chennai

Spread over 3.5 acres, complex is strategically located close to key business districts; it will have a luxury hotel with 235 keys and 123 Taj branded residences

Indian Hotels nears record high ahead of fixing of QIP price band

In the past three months, the stock has outperformed the market by surging nearly 30 per cent, as compared to 0.61 per cent rise in the S&P BSE Sensex

Tata group companies cut debt by selling shares, some biz portfolios

Group's net debt fell to Rs 2.04 trn in FY21 from Rs 2.6 trn a year ago; Debt of unlisted Tata Sons, the holding company, will go up this fiscal with Air India deal

Indian Hotels gains 3% as board approves Rs 2,000-crore QIP

A board meeting is scheduled to be held on March 25, 2022 to consider and approve the issue price, including a discount, for the equity shares to be allotted to QIB

Hotel stocks rally on heavy volumes; Chalet, Lemon Tree soar over 10%

While Q2FY22 witnessed a sharp rebound in revenues on a lower base, ICICI Securities expect a further recovery in revenues during Q3FY22E supported by healthy festive season travel demand.

Sensex ends 477pts higher on all-round buying; Supriya Life up 42% on debut

The BSE Midcap index and Smallcap indices also finished with smart gains of 1 per cent and 1.5 per cent, respectively.

Indian Hotels, IRCTC: Are travel related stocks a risky bet or a smart buy?

Any positive development in the travel industry may boost related stocks.

Indian Hotels announces opening of Taal Kutir MICE venue on December 1

The Convention Centre is one of Kolkata's largest MICE and banqueting venues, spread over 4,645.15 sq metres in the heart of Eco Park

Sensex slips 336pts; Nifty Bank at new high; RIL falls 3%, TaMo DVR up 10%

Stock market LIVE: The broader markets also ended with notable losses as profit-taking continued for the third straight trading session, amid valuation and inflation concerns

Oriental Hotels expects recovery to be driven by domestic leisure, tourism

Oriental Hotels Ltd, an associate company of The Indian Hotels Company Ltd, on Wednesday said the company expects business recovery to be driven by domestic leisure and business tourism

Leisure Hotels Group to add 6 properties by 2022-end

Hospitality firm Leisure Hotels Group is looking to add six properties across the country by the end of 2022 as part of its expansion plans in the country, a top company official said. Currently, the company has 28 properties with around 1,000 rooms spread across four states Himachal Pradesh, Uttarakhand, Uttar Pradesh and Goa. "We are looking to add a total of six properties by the end of the next year. So, the number will be somewhere in the region of 34 by the end of 2022," Leisure Hotels Group told Vibhas Prasad PTI. The upcoming properties will be in Varanasi, Dharamshala, Bhimtal, Mussoorie, Naukuchiatal and Jaipur, he added. About the investment, the company is planning for opening the upcoming hotels, Prasad said these would be largely under the asset-light model. So, the company will not be putting in money from its own pockets, but the owners will be putting somewhere to the tune of about 100 crores in total, for them. "We, over and above this, are looking at a few oth

Hotel stocks on a roll; Indian Hotels, Chalet, EIH surge over 10%

Easing of travel related restrictions, coupled with pent-up vacation demand, seems to the driving force behind a sharp surge in hotel shares

Indian Hotels to raise Rs 3,000 cr via rights issue for capex, pruning debt

Tata Group's hospitality arm has been using rights issues for fund raising regularly. It raised Rs 1,500 cr in April 2017, Rs 1,000 cr in January 2016 and Rs 844 crore in Feb 2008

Indian Hotels' iconic Taj named strongest hotel brand in the world

Indian Hotels Company (IHCL), South Asia's largest hospitality company, announced that its iconic brand, Taj, has been rated the Strongest Hotel Brand in the World by Brand Finance, the world's leading brand valuation consultancy in its annual 'Hotels 50 2021' report.This report recognizes the most valuable and strongest hotel brands across the globe."This is a proud moment for the Indian hospitality industry on the global stage. Taj being rated as the World's Strongest Hotel Brand is a testament to the unwavering trust our guests have consistently placed in us and the warmth and sincere care our employees have embodied day-after-day. We will continue our endeavor to elevate the world class experiences of luxury hospitality and deliver the magic of Tajness to all our stakeholders," said Puneet Chhatwal, Managing Director & Chief Executive Officer, Indian Hotels Company.Taj received an overall Brand Strength Index of 89.3 out of 100, with a corresponding AAA rating for customer ..

United Breweries, Indian Hotels: RBI policy fires up hotel, liquor stocks

In order to mitigate the adverse impact of the second wave of the pandemic on certain contact-intensive sectors, a separate liquidity window of Rs 15,000 crore is being opened till March 31, 2022

Indian Hotels hits 52-week high; up 26% in a month on demand recovery hope

The company is hopeful of demand recovery in the US and the UK in the next three to four months with the Covid-19 situation coming under control

IHCL, chef Sanjeev Kapoor, Jose Andres offer meals to healthcare workers

Kapoor and WCK have partnered with Indian Hotels Company (IHCL) for its MealsToSmiles initiative