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Indian Hotels Co Ltd News

Bet on these stocks to mint money on your friend's big fat Indian wedding

An average Indian couple spends around 2x on weddings versus education (pre-primary to graduation), according to the Jefferies note, which is in sharp contrast to countries such as the United States

Bet on these stocks to mint money on your friend's big fat Indian wedding
Updated On : 24 Jun 2024 | 9:01 AM IST

ITC Hotel Ltd's demerger plan gets approval from competition watchdog

The Competition Commission of India (CCI) on Tuesday approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity, will be listed on the stock exchanges. The proposed combination relates to the demerger of the demerged undertaking to ITC's wholly-owned newly incorporated subsidiary, ITC Hotels. Following the demerger, shares of ITC Hotels will be listed. ITC will continue to hold a 40 per cent stake, while the remaining 60 per cent will be held by the conglomerate's shareholders, according to a notice on the CCI website. ITC has diversified businesses in India spanning from FMCG, hotels, paperboards, paper and packaging, and agri-business. The proposed combination is only an internal restructuring exercise which will not result in any change in market dynamics, ITC said in the notice. "Commission approves demerger of Hotels Business of ITC Ltd to its wholly-owned ...

ITC Hotel Ltd's demerger plan gets approval from competition watchdog
Updated On : 28 May 2024 | 10:37 PM IST

Domestic travel, tourism sector ready to capitalise on upcycle: IHCL MD

The Indian travel and tourism sector is well-positioned to capitalise on an upcycle, driven by factors, including the demand-supply gap, penetration opportunities in Tier II and Tier III markets and rebound in foreign tourist arrivals, according to Indian Hotels Company Ltd Managing Director and CEO Puneet Chhatwal. In his address to shareholders in the company's Annual Report for 2023-24, Chhatwal said the Tata group hospitality firm is uniquely placed to capitalise on the opportunities provided by a dynamically growing industry. The company plans to make its 'Gateway' brand -- a full-service hotel offering in the upscale segment targeting emerging micro markets in metros, Tier II and Tier III cities -- 100 hotels portfolio by 2030, he added. "In India's evolving economic landscape, tourism has emerged as a powerful force driving not only economic growth but also forging a path towards a brighter and more inclusive future. With its rich cultural heritage and warm traditions, ...

Domestic travel, tourism sector ready to capitalise on upcycle: IHCL MD
Updated On : 23 May 2024 | 6:22 PM IST

IHCL, partner CG Hospitality eye 25 hotels in Indian sub-continent by 2025

Indian Hotels Company (IHCL) on Thursday announced a strategic partnership with CG Hospitality with a plan to grow its portfolio in the Indian sub-continent to 25 hotels by 2025, involving a total investment of around Rs 4,000 crore. The portfolio of 25 properties by 2025, will include 11 operating hotels with 900 keys and will add another 14, which will be under one platform -- 'Ekyam' -- to pursue opportunities in destinations that offer adventure experiences across the Indian Ocean and Greater Himalayan regions and wildlife escapes, IHCL Managing Director and Chief Executive Officer Puneet Chhatwal told reporters. IHCL's Vice President Commercial Ram Maheshwari will lead the 'Ekyam' platform, he added. "We have a long-standing association with CG Hospitality, a member of the renowned CG Corp Global for over two decades. We are delighted to announce that the next phase of this partnership will pursue accelerated growth in the Indian sub-continent. "This collaboration under the ..

IHCL, partner CG Hospitality eye 25 hotels in Indian sub-continent by 2025
Updated On : 09 May 2024 | 6:20 PM IST

Sensex extends rally to fifth day, ends 486 pts up; SBI, Axis Bank zoom over 5%

Indian stock market on Thursday, April 25: The NSE Nifty ended atop the 22,550 levels, up 156 points; Kotak Bank and HUL, however, bucked the trend.

Sensex extends rally to fifth day, ends 486 pts up; SBI, Axis Bank zoom over 5%
Updated On : 25 Apr 2024 | 7:51 AM IST

Indian Hotels stock falls 5% post Q4 results; peer group shares rise

Indian Hotels stock update: Share price declined 5% day after company reported 29% growth in net profit.

Indian Hotels stock falls 5% post Q4 results; peer group shares rise
Updated On : 25 Apr 2024 | 11:41 AM IST

F&O expiry, Q4, Meta impact: Which way will the Nifty swing on April 25?

Stock market preview Thursday, April 25: Global mood turns bitter as Nasdaq futures fall post Meta guidance; HUL, Axis Bank and Indian Hotels to react to Q4 numbers on Dalal Street.

F&O expiry, Q4, Meta impact: Which way will the Nifty swing on April 25?
Updated On : 25 Apr 2024 | 7:13 AM IST

IHC Q4 result: PAT rises 29% to Rs 438 cr, total income at Rs 1,951 cr

The Indian Hotels Company Ltd (IHCL) on Wednesday reported a 29.36 per cent growth in consolidated profit after tax to Rs 438.33 crore in the fourth quarter ended March 2024. The hospitality company had reported a Profit After Tax (PAT) of Rs 338.84 crore in the year-ago period. For the financial year 2023-24, IHCL reported a consolidated PAT of Rs 1,330.24 crore as against Rs 1,052.83 crore in the previous fiscal. Its total income rose to Rs 1,951.46 crore during the quarter under review, from Rs 1,654.54 crore in the corresponding period of the previous year, according to a regulatory filing. However, its total expenses also increased to Rs 1,416.77 crore as against Rs 1,254.52 crore a year ago. Puneet Chhatwal, Managing Director & CEO of IHCL, said, "With 53 signings in FY2024, IHCL achieved a portfolio of 310 hotels, enabled by attaining scale in each of our brands and forming strategic alliances in new market segments". He shared that looking ahead at FY25, IHCL will continu

IHC Q4 result: PAT rises 29% to Rs 438 cr, total income at Rs 1,951 cr
Updated On : 24 Apr 2024 | 9:14 PM IST

Hotel stocks rally up to 9% in weak market on hopes of strong earnings

Analysts at Emkay Global see the strength in hospitality industry sustaining in March (Q4)/June (Q1) quarter, based on their channel checks, with year-on-year (YoY) improvement in average room rates.

Hotel stocks rally up to 9% in weak market on hopes of strong earnings
Updated On : 26 Mar 2024 | 3:23 PM IST

Ayodhya on track to become world's biggest spiritual destination: IHCL CEO

Indians travelling because of higher disposable income and priorities have changed: Puneet Chhatwal

Ayodhya on track to become world's biggest spiritual destination: IHCL CEO
Updated On : 19 Mar 2024 | 3:36 PM IST

IHCL to expand skilling centers by 2025; to impart training to 100K by 2030

Tata Group hospitality firm Indian Hotels Company Ltd (IHCL) is planning to increase the number of skill training centres to 50 across India by next year, apart from accelerating online training in partnership with group firm TCS to meet its target of skilling 1 lakh people by 2030, a senior company official said. The company, which has identified skilling as one of the areas of focus under its environmental, social, and corporate governance initiative Paathya, is focussing on rural areas for the skill training programme and is confident that more than 25 per cent of the 1 lakh people who will be skilled by 2030 will be women. It is trying to play its part in bridging the demand-supply gap of skilled workforce in the hospitality industry, which has witnessed robust growth in the last couple of years after the pandemic. "The industry has come back in a very strong way... In the last few quarters in terms of growth, (if it) is anything to go by, we are looking at a very robust path in

IHCL to expand skilling centers by 2025; to impart training to 100K by 2030
Updated On : 17 Mar 2024 | 12:16 PM IST

These 2 Tata Group stocks can dip up to 16% in the near term, charts hint

Tata Chemicals had rallied 46 per cent in the last six trading sessions; a 50 per cent retracement of the rally could see the stock dip to Rs 1,217, shows chart

These 2 Tata Group stocks can dip up to 16% in the near term, charts hint
Updated On : 11 Mar 2024 | 11:43 AM IST

This Tata group hotel stock has zoomed 100% in one year

Shares of Indian Hotels Company hit a new high of Rs 602.75, up 4% on the BSE in Friday's intra-day trade

This Tata group hotel stock has zoomed 100% in one year
Updated On : 23 Feb 2024 | 11:33 AM IST

IHCL aims to strengthen position in spiritual tourism, to add more hotels

Tata group hospitality firm Indian Hotels Company Ltd is looking to strengthen its leadership position in spiritual tourism, developing properties in noted locations in India with spirituality expected to play a more significant role globally, according to a top company official. The company currently has 66 hotels either operational or under development at spiritual destinations, including the latest hotspot Ayodhya, and will continue to grow the portfolio. "I think spiritual destination and spirituality is going to play a more significant role across the globe. Not just for us, but generally for the world population, a very important role and I'm glad to say that we are at the forefront of it," company Managing Director & CEO Puneet Chhatwal told PTI. On why the company sees a huge opportunity in the segment, Chhatwal said, "spiritual destinations are a safer bet because people in good or in bad times go to get the blessings of the Lord, whether it's any kind of good, bad, sad ..

IHCL aims to strengthen position in spiritual tourism, to add more hotels
Updated On : 18 Feb 2024 | 11:34 AM IST

IHCL signs pact for 77-key hotel in Dibrugarh, Assam under ginger brand

Indian Hotels Company (IHCL) on Tuesday announced the signing of its first 77-key hotel in Dibrugarh, Assam, under the Ginger brand. "This signing is in line with our commitment to north east India where we have been rapidly expanding our footprint. Dibrugarh, an industrial city in Assam, is an important centre for tea trading and serves as a gateway to prominent tourist destinations in the region," IHCL Executive Vice President, Real Estate and Development, Suma Venkatesh said in a statement. The company has partnered with Vela Hotel & Resort LLP for this greenfield Ginger hotel. With the addition of this hotel, IHCL will have six hotels in Assam, including four under development.

IHCL signs pact for 77-key hotel in Dibrugarh, Assam under ginger brand
Updated On : 06 Feb 2024 | 9:09 PM IST

IHCL Q3 results: Consolidated profit after tax rises 18% to Rs 452 crore

The Indian Hotels Company (IHCL) reported a 18 per cent growth in consolidated Profit After Tax (PAT) to Rs 451.95 crore in the December quarter, on strong performance in all verticals. The hospitality company's PAT stood at Rs 382.71 crore in the year-ago period, the company said in a statement. The company's revenue from operations grew 16.49 per cent to Rs 1,963.84 crore in the third quarter of the ongoing fiscal compared to Rs 1,685.80 crore a year ago. IHCL Managing Director and CEO Puneet Chhatwal told PTI that the performance during the quarter was driven by strong performance in all verticals. "IHCL reported an all-time high consolidated PAT margin of 22.6 per cent, marking seven consecutive quarters of record financial performance. This robust performance was enabled by 'same store hotels' clocking RevPAR premium across markets and segments, and the scaling of new businesses," he said. The company's new business vertical comprising Ginger, Qmin, ama Stays & Trails, The ..

IHCL Q3 results: Consolidated profit after tax rises 18% to Rs 452 crore
Updated On : 02 Feb 2024 | 7:02 PM IST

IHCL Q3 results: Net profit rises 18% to Rs 452 crore, revenue up 14.1%

The hospitality giant reported a 14.1 per cent uptick in revenue to Rs 1,963.24 crore from Rs 1,685.80 crore in the year-ago period

IHCL Q3 results: Net profit rises 18% to Rs 452 crore, revenue up 14.1%
Updated On : 01 Feb 2024 | 10:13 PM IST

IHCL hospitality group to build hotel spread over 1.3 acre in Ayodhya

Indian Hotels Company Ltd announced the signing of the third hotel in Ayodhya, Uttar Pradesh, on the day of the Ram temple inauguration. Spread over 1.3 acre, the 150-key brownfield project will be branded as an Indian Hotels Company Ltd (IHCL) SeleQtions hotel, the hospitality group said in a statement. "Ayodhya's remarkable transformation to a world-class pilgrimage destination, marked by the inauguration of the Ram Janmabhoomi Mandir, is poised to draw an influx of tourists from around the world," IHCL Managing Director and Chief Executive Officer Puneet Chhatwal said. "We will now offer three distinct brands in Ayodhya of about 400 rooms and we are delighted to collaborate with KM Vyaparfor this SeleQtions hotel," he added. With the addition of this, IHCL will have three hotels across SeleQtions, Vivanta and Ginger brands in Ayodhya.

IHCL hospitality group to build hotel spread over 1.3 acre in Ayodhya
Updated On : 22 Jan 2024 | 7:49 PM IST