The net profit of Oriental Hotels has risen to Rs. 1.68 crore in the quarter ended June 30, 2010, from Rs. 59 lakh in the corresponding period last year. Total income was higher at Rs. 48.27 crore against Rs. 36.94 crore.
Addressing a press conference here on Tuesday, Raymond Bickson, Managing Director and Chief Executive Officer, Indian Hotels Company, said that Oriental Hotels had extensive plans to expand its footprint across Southern India over the next five to six years. The company planned to debut in a Taj property in Coimbatore on the Race Course Road with 180 rooms by 2011. The company also had planned a 200-room Gateway Hotel in Bannerghata, Bangalore. The company would renovate and upgrade its hotels in Chennai — Taj Coromandel and Taj Fisherman's Cove.
At its existing Chennai properties, Oriental Hotels had plans for extensive renovation and upgradation. At The Taj Coromandel, the company would undertake renovation of 113 rooms and would give a new look to Southern Spice. The Taj Fisherman's Cove would get 88 renovated and refurbished cottages. Extensive renovation of rooms and food & beverages facilities had also been undertaken at The Gateway Hotel, Visakhapatnam. In addition, the company recently acquired a 126-room completed property in Thiruvananthapuram, as part of the upscale hotels.
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