8 percent revenue growth – 26 percent EBITDA growth – 15 crore profit after tax
The Indian Hotels Company Limited (IHCL), India’s largest hospitality company reported its consolidated and standalone financials for the first quarter ending June 30, 2018.
Key – Q1 ’18
- 8 percent revenue growth
- 26 percent EBITDA growth
- 15 crore profit after tax
Consolidated financial results for the quarter ended June 30, 2018
Commenting on Q1 performance, Puneet Chhatwal, managing director and chief executive officer, IHCL, said “It has been a great start to a historically slow quarter. Demand continues to outpace supply and IHCL witnessed an increase in RevPAR by about 6 percent globally driven by growth in the industry in general and our brands gaining market share in particular. I am delighted with the 8 percent growth in revenues and improvement in EBITDA margins of 183bps. Furthermore, in our endeavour to build a robust pipeline, we signed 6 new hotels with an inventory of approximately 800 rooms across all our brands in key locations in India and overseas.”
Giridhar Sanjeevi, executive vice president and chief financial officer, IHCL, said “We are very pleased with the progress we are making in the execution of our strategic plan in driving profitable growth for our company. We delivered a PAT of Rs15 crore and this marks the third consecutive quarter of achieving positive results for IHCL.”
- IHCL announces the signing of a new hotel at London Heathrow Airport. This will be a 108 room hotel, conveniently located across from Terminals 1, 2 and 3.
- IHCL signed 6 new hotels in the quarter across all its brands in India and key international destinations.
- IHCL won the bid for The Connaught, an 85-room hotel in Lutyens’ New Delhi.
- IHCL signed its first hotel in Makkah, Saudi Arabia . The hotel will be a Taj branded hotel and is scheduled to open in January 2023, with approximately 340 rooms.
- The other signings included a Taj hotel in Lonavala , a Vivanta hotel in Katra, Jammu & Kashmir and two Ginger hotels in Jhansi and Visakhapatnam respectively.
- The company announced a major expansion of Taj Bangalore located across the international airport with an addition of 220 guest rooms; bringing it to a total of 374 rooms with state-of-the-art conferencing and banqueting facilities.
- St. James’ Court, A Taj Hotel, London , launched its newly renovated premium rooms at the Almoners Townhouse.
Awards and recognition
- CFI.co Corporate Governance Award: IHCL’s iconic brand Taj was awarded the Best Hospitality Corporate Governance Award in India.
- Earthcheck Gold Certifications: IHCL has set a global benchmark in hospitality for environmental sustainability with 67 of its hotels being awarded Gold Certification by EarthCheck.
- Freddie Awards: Taj InnerCircle has been bestowed with the special 210 Award in the hotel category for the Middle East/Asia/Oceania region for Strongest Performing Program off the Radar of Voters.
- Conde Nast Traveller UK – Hot List: Taj Exotica Resort & Spa, Andamans featured in the highly coveted Conde Nast Traveller UK Hot List
- Town & Country USA: Taj Exotica Resort & Spa, Andamans featured in Town & Country’s annual Travel Awards list