Indian Hotels Company Ltd (IHCL) is expected to benefit from higher room rates, rising occupancy, and strategic acquisitions, with analysts projecting double-digit revenue growth for FY27 driven by strong domestic demand and a favourable demand-supply dynamic.
Indian Hotels Company Ltd (IHCL) is set to achieve its target of 700 hotels by fiscal year 2027, significantly ahead of its original 2030 goal, driven by strong financial performance and strategic expansion plans, including the merger of Oriental Hotels Ltd.
Indian Hotels Company Ltd board okayed sale of companys Taj Blue Diamond Hotel, Pune and Taj Residency Hotel Lucknow to PIEM Hotels Ltd for Rs 600 million and Rs 400 million respectively.
Indian Hotels Company Ltd (IHCL) net profit rose 15 per cent in the second quarter after excluding the one-off exceptional gain of Rs 307 crore in the previous year. Net profit fell 45 per cent when compared with the previous year's earnings after including a one-off gain.
The Indian Hotels Company Ltd on Wednesday said the group has adequate insurance cover to repair and restore the damage caused to its property, The Taj Mahal Palaces and Towers in Mumbai, during the last week's terrorist siege.
Indian Hotels Company Ltd, the Tata group outfit that operates the Taj chain of hotels, is planning a rights issue to finance its expansion in India and abroad.
On Tata's retirement in December, 2012, Mistry will take the charge of IHCL.
The Indian Hotels Company Ltd, operating the Taj brand of hotels, on Wednesday said it expects revenue from its International operations to be one third of the total revenue in the next five years
The company will raise Rs 844 crore through a rights offer for equity shareholders, while it will mop up Rs 900-1,080 crore through a similar offer for unsecured convertible debenture-holders.
US Secretary of State Marco Rubio kick-started a three-day visit to India on Tuesday to advance bilateral ties in energy, trade and investment, defence, critical technologies, and exchange views on the West Asia crisis.
Indian Hotels Company Ltd has raised $150 million through foreign currency convertible bonds issue, which was oversubscribed by more than 20 times, to fund acquisitions, expansion and modernisation in the country and abroad.
India's food safety regulator, FSSAI, has issued notices to five-star hotels JW Marriott and Andaz Delhi following inspections that revealed serious hygiene and food-safety violations, including cockroach infestations, expired food, poor sanitation, and improper food storage.
Indian Hotels Company Ltd has posted a net profit of Rs 111.70 million for the quarter ended December 31 as compared to net profit of Rs 60.10 million in the quarter ended December 31, 2001.
'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
Tata Sons has the balance sheet to support them, for now.
The Indian stock market in the October-November period sees high trading activity due to increased consumer spending, festive demand, upbeat sentiment, renewed investor confidence, and the auspicious Muhurat trading session. This impacts many stocks and sectors in the festive season.
The sudden resignation and almost-immediate announcement of a successor came as a surprise to many.
In a departure from the past, when IHCL adopted the organic route for entering markets like London and New York, this time around the expansion will be acquisition-led.
Ratan Tata-led interim management of Tata Sons is seeking to oust Mistry from his positions in the operating group firms, including IHCL and Tata Motors
According to multiple sources close to the development, Mercedes-Benz is already in talks with multiple developers in Gurugram for a luxury branded residence project.
The tata group intends to invest Rs 1,500 crore (Rs 15 billion) in setting up 150 'value hotels' in India and abroad over the next five years.
The contract has been entered into with Paranjpe Schemes Construction Limited and the new hotel will be a part of the Taj Business Hotels portfolio, a release stated.
The Indian Hotels Company Ltd, operator of the Taj brands of hotels, on Monday formed a joint venture with Yunnan Tourism Co Ltd to develop and manage two hotels in China's Yunnan province.
Roots Corporation Ltd, a 100-per cent subsidiary of the Tata Group-controlled Indian Hotels Company Ltd, will open its 'SmartBasics' hotel -- 'Ginger' at Nashik in the next couple of weeks.
Indian Hotels Company Ltd's Ginger Hotels will invest over Rs 204 crore (Rs 2.04 billion) to set up 17 budget hotels in tier-II cities in the next 12 months.
Scenting opportunity in the budget hotel segment, diversified conglomerate Tata Group plans to construct 50 hotels of its no-frills chain Ginger -- across India in the next four years.
Indian Hotels Company Ltd has secured New York-based Pierre Hotel on lease.
Aviation fuel prices for domestic airlines remain unchanged, providing stability for local carriers, while commercial LPG and 5-kg cylinders see a significant rate hike due to rising international energy costs.
ITC Hotels Ltd on Wednesday reported a 53 per cent jump in consolidated net profit to Rs 133.71 crore in the June quarter, on the back of higher revenue. The company, which had posted a consolidated net profit of Rs 87.16 crore in the first quarter last fiscal, said it is targeting to reach 220 operational hotels and more than 20,000 keys by 2030.
Seven listed Tata companies together own 12.1 per cent in Tata Sons with a combined book value worth around Rs 30,700 crore.
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in fiscal 2023-24 (FY24). Analysts believe there could be more gains in store over the next one year for the stocks in this sector, but suggest investors put in money on a correction only from a long-term perspective. Hotel stocks, according to A K Prabhakar, head of research at IDBI Capital, have seen a good run as travel picked up post Covid in India. Not only have the room rents increased, the occupancy, too, has surged.
US-based Orient Express Hotels has termed the $1.86 billion acquisition offer by Tata group firm Indian Hotels as 'unsolicited' and said it will evaluate the proposal 'carefully and respond' accordingly.
Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
The cost of any flight from Delhi and Mumbai could rise by up to Rs 3,000 soon unless the airport regulator is able to reverse a court order.
Opening another chapter in aviation industry, G R Gopinath, the pioneer in low-cost carriers, had his Deccan Charters Ltd join hands with Taj Air, the executive charter service of Indian Hotels Company Ltd (IHCL), and Business Jets India Pvt Ltd (BJETS), to launch Powerfly.
Tata group's hospitality firm Indian Hotels Company Ltd (IHCL) on Friday said its 'Taj' brand has been rated as the strongest hotel brand in the world. According to the 'Hotels 50 2021' report by Brand Finance, Taj topped the strongest brands list for having stood resilient in spite of the challenges posed by the pandemic, besides other achievements.
Sea Rock Hotel, one of Mumbai's best-known landmarks since 1978, is changing hands for the second time in four years. Indian Hotels Company Ltd, owners of the Taj properties, on Friday said the company would buy the 400-room hotel located in Bandra from the Delhi-based Claridges, which had acquired the property in 2005.
