Indian Hotels, the hospitality arm of the Tata Group, which posted Rs. 8.12 crore net profit for the September quarter on the back of higher sales, said it would open 11 new hotels with 1,425 rooms this fiscal. The company, which runs the Taj brand of hotels, reported a net loss of Rs. 6.30 crore in the year-ago period.
“We have launched two properties this year, the Vivanta in Bangalore and Srinagar, with 415 rooms. We have another 11 new hotels in the pipeline with 1,425 rooms for this fiscal,” Raymond Bickson, Managing Director told reporters here while announcing the second quarter results.
Total income stood at Rs. 357.56 crore against Rs. 328.50 crore in the corresponding period last year, a growth of 9 percent.
The company attributed the improved performance to higher room sales in volume terms and robust growth in food and beverage sales and expects further growth in the second-half.
In the next two years, the company is planning to add another 19 hotels with 2,591 rooms mostly in Tier-II and Tier-III cities.
About the overseas operations, he said, the company had a turnaround strategy in place for the U.S., under which it has restructured its sales and marketing.