IHCL Reports Outstanding Third Quarter
MUMBAI - The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated financials for the third quarter ending December 31st, 2022.
Buoyed by a strong demand in third quarter, both leisure and business hotels in key domestic markets reported occupancy of over 70% and a rate growth of 27% as compared to pre-COVID levels.
Commenting on the performance, Mr. Puneet Chhatwal, Managing Director & CEO, IHCL, said, IHCL continued to report strong operational and financial performances across its businesses in Q3 resulting in an all-time high PAT of INR 383 crores, which exceeds any previous full year PAT. Leveraging its brand portfolio, IHCL reached a milestone of 250+ hotels and is in line with its vision of being a 300-hotel portfolio by 2025. In this financial year alone 30 plus hotels have been added to the pipeline and 14 hotels have opened, besides strong growth in amã Stays & Trails with 108 homestays and Qmin with over 25 outlets. The demand outlook for the sector in 2023 remains robust on the back of sporting events such as world cup hockey and cricket, global events like the ongoing G20 and recovery of inbound and corporate travel. IHCL with its vast network of hotels spread across 125+ cities is well positioned to cater to this rising demand.
He added, The three consecutive quarters of responsible profitable growth is a testament to the commitment, resilience and dedication of all our colleagues guided by our ethos of Tajness.
GROWTH DRIVERS
Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL said, Robust demand across markets and segments including our airline catering has led to all group companies reporting a positive PAT in Q3 across domestic and international operations. The revenue performance supported by scale benefits have enabled strong flow-through and record margins. IHCL continues to report a healthy consolidated free cash flow of INR 766 crores till date in FY 2022- 23 and remains net cash positive.
About The Indian Hotels Company Limited
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as the World’s Strongest Hotel Brand and India’s Strongest Brand as per Brand Finance Hotels 50 Report 2022 and India 100 Report 2022, respectively; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 252 hotels including 65 under development globally across 4 continents, 11 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.
ANNEXURE
AWARDS AND RECOGNITION FOR YTD FY 2022-23
- BRAND FINANCE HOTELS 50 2022: Taj rated as the World’s Strongest Hotel Brand 2022 by Brand Finance for the second consecutive time
- BRAND FINANCE INDIA 100 2022: Taj rated as India’s Strongest Brand across sectors by Brand Finance for the second time. Taj has received a brand strength index (BSI) score of 88.9 out of 100 and a corresponding elite AAA brand strength
- WORLD RESPONSIBLE TOURISM AWARDS: Paathya recognized for Sustaining Employees and Communities through the pandemic and Contributing to the Cultural Heritage of India at the coveted International Convention of World Responsible Tourism Awards
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GOLDEN PEACOCK AWARD FOR RISK MANAGEMENT:
IHCL has won the prestigious Golden Peacock Award for Risk Management for the year 2021 -
29TH ANNUAL WORLD TRAVEL AWARDS 2022:
- India’s Leading Hotel – Taj Mahal, New Delhi
- India’s Leading Palace Hotel – The Taj Mahal Palace, Mumbai
- India’s Leading Conference Hotel – Taj Palace, New Delhi
- India’s Leading Family Resort – Taj Exotica Resort & Spa, Goa
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CONDE NAST TRAVELLER READERS' CHOICE AWARDS 2022: IHCL hotels featured in the Best Hotels in India list
- Rambagh Palace, Jaipur
- Taj Lake Palace, Udaipur
- Taj Palace, New Delhi
- Fateh Prakash Palace, Udaipur
- Umaid Bhawan Palace, Jodhpur
- The Taj Mahal Palace, Mumbai
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TRAVEL+LEISURE TOP 500 READER’S BEST AWARDS 2022: IHCL hotels featured in global reader’s choice awards
- Rambagh Palace, Jaipur (Asia)
- Taj Holiday Village Resort & Spa, Goa (Asia)
- Taj Lake Palace, Udaipur (Asia)
- Taj Palace, New Delhi (Asia)
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TRAVEL+LEISURE WORLD'S BEST AWARDS 2022
- IHCL has been featured in the World’s Best Hotel Brands list
- Best 100 Hotels in the World
- Taj Lake Palace, Udaipur
- Taj Falaknuma Palace, Hyderabad
- Best 15 Resorts in Asia
- Taj Palace , Delhi
- Taj Lake Palace, Udaipur
- Taj Falaknuma Palace, Hyderabad
- Rambagh Palace, Jaipur
- Taj Holiday Village Resort & Spa, Goa
- Taj Lands End, Mumbai
- Best 15 City Hotels in Asia
- Taj Palace , Delhi
- Taj Lands End, Mumbai
- Best City Hotels in India
- Taj Palace , Delhi
- Taj Lands End, Mumbai
- Best Resorts in India
- Taj Lake Palace, Udaipur
- Taj Falaknuma Palace, Hyderabad
- Best in New York
- The Pierre, New York
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CONDE NAST TRAVELLER HOT LIST 2022
- Pilibhit House, Haridwar – IHCL SeleQtions
- Vivanta Sikkim, Pakyong
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NATIONAL TOURISM AWARDS: IHCL hotels honoured across multiple categories
- The Taj Mahal Palace, Mumbai
- Taj Kumarakom Resort & Spa, Kerala
- The Gateway Hotel, Vijayawada
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MAKEMYTRIP INDIA’S FAVOURITE HOMESTAYS AWARDS 2022: Our amã Stays & Trails bungalows have been awarded
- Villa Siolim, Goa – Villa of the Year
- Ambika Vilas, Trivandrum – Best Heritage Homestay
About The Indian Hotels Company Limited
The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as World's Strongest Hotel Brand 2024 and India's Strongest Brand 2024 as per Brand Finance; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; Gateway, full-service hotels designed to be your gateway to exceptional destinations and Ginger, which is revolutionising the lean luxe segment.
Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 340 hotels including 112 under development globally across 4 continents, 13 countries and in over 130 locations. The Indian Hotels Company Limited (IHCL) is India's largest hospitality company by market capitalization. It is listed on the BSE and NSE.
Please visit: IHCL; Taj; SeleQtions; Vivanta; Gateway; Ginger
