The company operates hotels under different brands, namely Taj, SeleQtions, Vivanta and Ginger.
Puneet Chhatwal, managing director and chief executive officer of IHCL, said that overall recovery has been stronger and quicker after the second wave.
“The company has delivered a positive Ebitda of ₹97 crore in this quarter. In line with IHCL’s objective of driving growth and market leadership, the board approval of raising equity of ₹4,000 crore will enable us to be a zero-debt company in the future and help fund the company’s expansion as well as its capital expenditure plans," he said.
The company said it has opened four new hotels during the year across different brands, including three SeleQtions hotels—one each in Kolkata, Bhubaneswar and Nainital; and a Vivanta in Ahmedabad, and a Ginger in Udaipur.
Earlier this year, IHCL opened four new hotels across different brands, including Taj Lakefront in Bhopal and Pilibhit House—an IHCL SeleQtions hotel—on the banks of the Ganges in Haridwar. It also launched two Vivanta hotels in Bhubaneswar and Goa. The company’s members-only club launched its new outpost in London.
IHCL, which added a homestay division to its portfolio in 2019—Amã Stays & Trails—now has 59 bungalows in India.
Jehangir Aibara, director at hospitality consultant Mahajan & Aibara, said Ginger has been operating as a separate vertical all this while and has limited synergies with IHCL’s operating structure.
“Its new rebranded identity is much more similar aesthetically to the other IHCL-run hotels and could potentially benefit both companies if it comes under one umbrella business. Roots could also perhaps then leverage IHCL’s sales network and other hotel management technologies," he said.
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