The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company, reported its Consolidated and Standalone financials for the third quarter ending December 31st , 2021.
- Revenues up by 90% to 615 crore in Q3 vis-à-vis Q2
- Reports positive EBIDTA of 38 crore for the first time in FY20-21
- Signed six new hotels with over 1100 rooms across brands at multiple locations and states in
- Strengthened the company’s presence in the Eastern part of India with the signing of three Taj
hotels, two in Kolkata and one in Patna
- Opened four new hotels across brands including:
- Introduced luxury hospitality to the city of Ahmedabad with the opening of Taj Skyline.
- Pioneered a new destination in the East with the launch of Taj Chia Kutir – Darjeeling
o Opened a new Ginger hotel in Kalinganagar
o In addition, expanded the amã Stays & Trails portfolio with the opening of four new
villas: two in Goa and one in Lonavala, Maharashtra and Thiruvananthapuram Kerala,
- Ginger reached a milestone of 75 hotels in its portfolio
- Quilon, Taj’s award-winning coastal Indian cuisine restaurant in London, retained its Michelin Star for the 14 th successive year.
Whilst COVID-19 continues to impact the hospitality sector at large, IHCL’s performance has shown consistent progress quarter on quarter.
Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL, said, “We are seeing positive revenue growth quarter on quarter whilst delivering on spend optimization. We will continue to keep this focus and introduce multiple initiatives to manage operational costs and strengthen the balance sheet.”