Indian Hotels Company will hold a meeting of the Board of Directors of the Company on 17 January 2025.Powered by Capital Market - Live News

Indian Hotels Company (IHCL) has set a new growth benchmark with 85 signings and 40 openings in 2024, taking its portfolio to 360 hotels with an industry leading pipeline of 123 hotels.Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL said, �This record growth performance is attributed to the continued expansion of the brandscape. IHCL launched the reimagined Gateway, a full-service hotel offering in the upscale segment, acquired majority shareholding in Tree of Life brand holding company, adding a boutique leisure offering and entered into a brand license agreement for The Claridges, commencing with management of brand`s landmark hotel in New Delhi, extending IHCL`s luxury portfolio. In line with IHCL`s strategy Accelerate 2030, the growth continues to be focused on capital light, accounting for 75% of the year`s signings.�She added, �The iconic Taj brand remains at the forefront of this growth with 19 signings in 2024. This is reflective of the growing affluence and demand for luxury experiences with signings spanning metros, pilgrimage locations, leisure destinations, state capitals in India as well as in key international markets. Taj with a portfolio of 125 hotels, renowned for its legacy of world class hospitality not only remains the driving force in IHCL`s brandscape but is also among the top luxury brands in the world for its scale and brand strength.� IHCL is well poised to achieve its goal of a 700 hotel portfolio under its strategy - Accelerate 2030.Powered by Capital Market - Live News

Indian Hotels Co (IHCL) announced its comprehensive strategy for 2030. Under the plan, IHCL will expand its brandscape, deliver industry- leading margins, double its Consolidated revenue with a 20% return on capital employed and grow its portfolio to 700+ hotels while building on its world-renowned service ethos.Under `Accelerate 2030`, the focus will be on driving top-line growth with 75% from traditional businesses and management fee and 25%+ from new and re-imagined businesses. Traditional businesses will be enabled by RevPAR leadership, asset management initiatives and inventory expansion of existing assets. Management Fee is expected to cross INR 1,000 crores by 2030, led by not like for like growth and increasing share of managed inventory. New Businesses, comprising of Ginger, Qmin, am� Stays & Trails and Tree of Life will rapidly scale through a capital light route, delivering a revenue CAGR of 30%+, while the re-imagined businesses of The Chambers and TajSATS, will continue their growth momentum.Evolution of the brandscape will be central to achieving optimum scale, building salience for new and reimagined brands and introducing innovative formats and concepts. This includes entering new segments like branded residences and extending the brandscape with newer brands like the addition of The Claridges, an opportunity to grow with a differentiated offering in the luxury segment.Expansion of the portfolio will maintain IHCL`s leadership in the Indian Sub-Continent. International presence will be built in global gateway cities with a focus on capital light route only with the Taj brand. Taj, SeleQtions and Vivanta will continue their steady growth, collectively contributing another 100 hotels to the pipeline. Reflective of the emerging consumer trends as well as the growth in Tier I and II cities, 75% of our new additions will be driven by the boutique leisure offering of Tree of Life, the re-imagined Gateway brand in the upscale segment, Ginger in the midscale segment. Excellence in operations with industry leading ESG+ framework of Paathya and IHCL`s world-renowned service standards will be the key enablers on this journey.Powered by Capital Market - Live News

Net profit of Indian Hotels Co rose 232.24% to Rs 554.58 crore in the quarter ended September 2024 as against Rs 166.92 crore during the previous quarter ended September 2023. Sales rose 27.42% to Rs 1826.12 crore in the quarter ended September 2024 as against Rs 1433.20 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1826.121433.20 27 OPM %27.4524.75 - PBDT513.14343.40 49 PBT388.21232.19 67 NP554.58166.92 232 Powered by Capital Market - Live News

The Board of Directors of The Indian Hotels Company has approved the execution of a Share Subscription and Purchase Agreement, and Shareholders` Agreement to acquire ~55% equity shares for an amount not exceeding Rs 18 crore in Rajscape Hotels, a Company that manages 16 boutique properties offering immersive and experiential stays under the brand �Tree of Life Resorts & Hotels� across India. Powered by Capital Market - Live News