COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

Kargil crisis affected tourists' inflow and our business, says Tata group's hotel chain

Indian Hotels Company Limited has said the Kashmir conflict has affected its 1999-2000 first quarter performance.

Indian Hotels owns the Taj hotels chain and is part of the Tata group of companies.

"There was a drop in the arrival of foreign visitors including tourists during the first quarter of the year as a result of the border conflict which adversely affected room occupancies and tariffs," the firm said in a statement.

The company posted a lower net profit of Rs 222 million for the quarter compared to Rs 240.6 million in the corresponding quarter last fiscal. Sales fell to Rs 1.20 billion from Rs 1.32 billion.

Business news