Higher tariff, tourists inflow to improve numbers of Indian Hotels
Indian Hotels Company, one of the largest hotel players in the country and owner of the Taj brand, showed a 15% growth in net sales in the September 2010 quarter on a year-on-year basis. It, however, posted a loss of Rs 6.3 crore in the quarter.Two factors contributed to this decline: a one-time charge of Rs 16 crore for rebranding its 19 hotels under the 'Vivanta by Taj' brand and the negative impact of the bad press for the Commonwealth Games in Delhi. In the September quarter of the last fiscal, the company's numbers were bolstered by other operating income in the form of the insurance amount it received for damages suffered in the terror attacks on its Mumbai property in November 2008.
The hotel industry, on the whole, is seeing increased occupancy levels and revenue per available room in all major cities. According to a research done by HVS, a leading consultant, hotels in all the major Indian cities — Mumbai, Delhi, Chennai and Kolkata — have consistently shown an improvement in their revenue per available room and occupancy levels.
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