MUMBAI, FEBRUARY 3, 2021: The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company, reported its Consolidated and Standalone financials for the third quarter ending December 31st, 2020.
- Revenues up by 90% to 615 crore in Q3 vis-à-vis Q2
- Reports positive EBIDTA of 38 crore for the first time in FY20-21
- Signed six new hotels with over 1100 rooms across brands at multiple locations and states in India
- Strengthened the company’s presence in the Eastern part of India with the signing of three Taj hotels, two in Kolkata and one in Patna
- Opened four new hotels across brands including:
- The Connaught, an IHCL SeleQtions hotel, in the heart of New Delhi
- Introduced luxury hospitality to the city of Ahmedabad with the opening of Taj Skyline
- Pioneered a new destination in the East with the launch of Taj Chia Kutir – Darjeeling
- Opened a new Ginger hotel in Kalinganagar
- In addition, expanded the amã Stays & Trails portfolio with the opening of four new villas: two in Goa and one in Lonavala, Maharashtra and Thiruvananthapuram Kerala, respectively
- Ginger reached a milestone of 75 hotels in its portfolio
- Quilon, Taj’s award-winning coastal Indian cuisine restaurant in London, retained its Michelin Star for the 14th successive year
KEY CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED DEC 31st, 2020
Commenting on the Q3 performance, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “The third quarter saw stronger recovery driven primarily by leisure demand and resumption of weddings. With innovation at the heart of our strategy, we continued to unlock the potential of our ancillary businesses, creating alternative sources of revenue. Despite challenges, the company opened four and signed six new hotels in the quarter and continued its focus on adopting an asset-light model, which has helped IHCL achieve a 44 per cent managed portfolio, further boosting consistent portfolio growth without additional capital deployment.”
Whilst COVID-19 continues to impact the hospitality sector at large, IHCL’s performance has shown consistent progress quarter on quarter.
Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL, said, “We are seeing positive revenue growth quarter on quarter whilst delivering on spend optimization. We will continue to keep this focus and introduce multiple initiatives to manage operational costs and strengthen the balance sheet.”
AWARDS AND RECOGNITION IN Q2 FY 2020-21
- CONDE NAST TRAVELLER READERS’ TRAVEL AWARDS 2020: IHCL has been recognized in these prestigious awards basis readers’ votes across multiple categories including:
- Favourite Leisure Hotel In India – Taj Fort Aguada Resort & Spa, Goa
- Favourite Business Hotel In India – The Taj Mahal Palace, Mumbai
- Favourite Safari Lodge In India – Mahua Kothi, A Taj Safari – Bandhavgarh National Park
- Favourite Destination Wedding Hotel in India – Rambagh Palace, Jaipur
- Favourite Spa in an Indian Hotel – Taj Exotica Resort & Spa, Goa
- Favourite Hotel Loyalty Programme – Taj InnerCircle
- Favourite Overseas Leisure Hotel – Taj Exotica Resort & Spa Maldives
- Favourite Heritage Hotel in India – Umaid Bhawan Palace, Jodhpur
- Presents Favourite Restaurant in an Indian Hotel – Wasabi By Morimoto, The Taj Mahal Palace, Mumbai
- Favourite Hotel Bar In India – Blue Bar, Taj Palace, New Delhi
- Hotel with the Best Service In India – The Taj Mahal Palace, Mumbai
TRAVEL + LEISURE INDIA’S BEST AWARDS 2020: Taj Jumeirah Lakes Towers, Dubai was awarded ‘Best New Hotel’ in these coveted awards
- CONDE NAST TRAVELLER MIDDLE EAST HOT LIST 2020 | November 2020: Taj Jumeirah Lakes Towers, Dubai is one of the featured hotels in these coveted awards
- CONDÉ NAST TRAVELLER MIDDLE EAST READERS’ CHOICE AWARDS 2020 – Taj Jumeirah Lakes Towers, Dubai, has been recognized as ‘Favourite New Hotel’ in the Middle East and North Africa region in these prestigious awards, which celebrate the outstanding achievements of the travel and hospitality industry over the past year basis reader votes, resulting in a list that honours those who have gone above and beyond to create memorable guest experiences
About the Indian Hotels Company Limited (IHCL)
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the hallmark of iconic hospitality and India’s Strongest Brand as per Brand Finance India 100 2020 report, SeleQtions, a named collection of hotels, Vivanta, sophisticated upscale hotels and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel – The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 214 hotels including 49 under development globally across 4 continents, 12 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is South Asia’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.
Please visit: www.ihcltata.com; www.tajhotels.com; www.seleqtionshotels.com; www.vivantahotels.com; www.gingerhotels.com
