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.
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.
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.
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.
On Tata's retirement in December, 2012, Mistry will take the charge of IHCL.
'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
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 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.
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.
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.
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.
Seven listed Tata companies together own 12.1 per cent in Tata Sons with a combined book value worth around Rs 30,700 crore.
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.
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
Financial services giant HDFC Bank, carrying a brand value of $44.9 billion, has surged past IT consulting behemoth Tata Consultancy Services (TCS) to reclaim its crown as the country's most valued brand, according to the 2025 Kantar BrandZ Most Valuable Indian Brands report.
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.
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'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.
India's hospitality sector is rolling out the red carpet for investors. A flurry of upcoming IPOs, or initial public offerings, the entry of new players, and ambitious expansion plans by Indian and global hotel brands are ushering in what could be the industry's most formalised era yet. Leading the charge are real estate titans, who are turning their hotel arms into global hospitality chains.
Indian Hotels Company Ltd has secured New York-based Pierre Hotel on lease.
Customised restaurant recreations, cafe setups, pop-ups by Michelin-star chefs, bespoke table linens with monograms and couple-themed hashtags.
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.
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.
With just four trading sessions to go for the ITC-ITC Hotels demerger record date shares of ITC continue to consolidate in a thin range of Rs 460 - Rs 480 in an otherwise volatile equity market. On Tuesday thus far despite a near 1 per cent fall in the Sensex and Nifty; ITC traded on a flat note. ITC had set the demerger ratio at 1:10 - meaning 1 share of ITC Hotels for every 10 shares of ITC as of the record date January 6, 2025.
The initial public offering (IPO) lane will be busy next week, with four main-line companies, including Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd and Aegis Vopak Terminals tapping the primary market to raise over Rs 6,600 crore collectively.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
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.
The stocks are largely from sectors such as chemicals, finance and cement, which struggled earlier but the worse seems to be behind them.
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
Diversified entity ITC Ltd on Monday said it will demerge its hotels business by incorporating wholly-owned subsidiary ITC Hotels Ltd, paving way to attract appropriate investors and strategic partners. With the company's hotels business maturing over the years, the company said the vertical is ready to chart its own growth path as a separate entity in the fast-growing hospitality industry. "The Board of Directors of ITC Ltd at its meeting held on July 24, 2023, evaluated and discussed various alternative structures for the hotels business.
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