(TAN): The Indian Hotels Company Limited (IHCL) reported its financials for the second quarter ending September 30. The company revenues are up by 85% in July-September vs April-June quarter.
Over the period IHCL has signed seven hotels across brands across multiple locations and states in India. It has relaunched the city’s iconic Machan at Taj Mahal, New Delhi and launched India’s first on-site brewpub at Taj MG Road, Bengaluru in partnership with AB InBev.
The company has expanded the presence of Qmin, a repertoire of culinary offerings, across 12 cities. One important achievement for the company was that its Rambagh Palace, Jaipur secured the top place among the Hotels in India and 15th in the Best Hotels in the World categories of the prestigious global Condé Nast Traveler Readers’ Choice Awards 2020.
IHCL has also joined hands with Tata Power to provide solar energy for Mumbai hotels, saving energy costs and reducing carbon footprint.
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Commenting on the Q2 performance, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, “The pandemic is an unprecedented event…though a gradual recovery is visible, it will take time to reach pre-pandemic levels…all our efforts are focused in executing the R.E.S.E.T 2020 strategy committed to creating alternative revenue growth avenues, expanding its portfolio using an asset light framework, driving cost optimization and continuing to deliver value to all our stakeholders.”
The implementation of R.E.S.E.T 2020, a comprehensive five-point strategy, has provided a transformative framework to help the company overcome Covid-19 related challenges, and has yielded positive results in the first half of FY 2020-21.
