IHCL Unveils 5 Year Strategy to Spur Growth, Strengthen Market Leadership
Mumbai, February 16, 2018: Indian Hotels Company Ltd (IHCL, BSE: 500850; NSE: INDHOTEL) a leading hospitality company in South Asia, today announced a comprehensive five-year business strategy targeted at improving EBIDTA margins by 800 bps. Under the plan, the company will work towards deepening guest experience, strengthening market leadership and achieving transformative growth leading to greater profitability and market leadership in each of the IHCL relative market segments.
Articulating the plan, Puneet Chhatwal, Managing Director and Chief Executive Officer, Indian Hotels Company Limited, outlined a crisp overview of the vision, created with an eye towards maximizing stakeholder value over the next five years. The plan aims to build on the century-old legacy of IHCL and further strengthen its position by operating best in class portfolio of brands in India and select overseas destinations.
“Our greatest opportunities reside at the very heart of our brand - our people, authentic guest experiences and unmatched value. Our strategy is three pronged: Restructure, Reengineer and Reimagine our portfolio to achieve 8% point EBIDTA margin improvement. This will be driven by a deep commitment to service excellence as well as implementation of revenue and profit-driving initiatives. Integral to our strategy of reinforcing the multi-product, multi-segment brandscape is our customer. We shall aim to have a value proposition for each of our customers at different points in their lifecycle. Our service ethos, epitomized in what we call ‘Taj-ness’ will continue to be the soul of our company.” Puneet Chhatwal added.
Key tenets of the plan include unlocking value from efficiencies in scale and simplifying the holding structure for greater profitability. IHCL will be at the forefront of change in the hospitality industry as it goes about re-engineering processes, embracing technology and building people capability to deliver enhanced and personalized customer experiences. The plan will include aligning the company’s brands to dominate high growth segments, implementing an aggressive development pipeline and restructuring assets for balance sheet optimization.
IHCL has the distinct advantage on the Indian sub-continent of having the largest system wide revenue, one of the largest network of hotels, spanning iconic landmark hotels, authentic Palaces and the highest number of leisure hotels. It is the only Indian hospitality group to have marquee hotels in international locations like New York, London, San Francisco, and Dubai amongst others in overseas destinations.
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About The Indian Hotels Company Limited
Indian Hotels Company Limited (IHCL) and its subsidiaries, bring together a group of brands and businesses that offer an unrivalled fusion of warm Indian hospitality and world-class service. IHCL operates 144 hotels globally across 4 continents, 11 countries and 72 locations. Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - the Taj Mahal Palace, in Bombay in 1903.
The iconic Taj Hotels Palaces Resorts Safaris is Indian Hotels Company Limited’s (IHCL) flagship brand for the world’s most discerning travellers seeking authentic experiences in luxury. The brand’s unique hotel portfolio comprises world-renowned landmarks to modern business hotels, idyllic beach resorts to authentic grand palaces. Vivanta provides travellers a contemporary and creative hospitality experience that matches their bon-vivant lifestyles. The Gateway Hotel brand welcomes guests to a refreshingly enjoyable and hassle-free experience, anytime, everywhere, offering the highest consistency in quality, service and style.
Ginger, IHCL’s revolutionary concept in hospitality for the budget segment in India is also its largest. Ginger Hotels are designed and operated with the ethos of providing reliable, safe and clean rooms that provide guests with a restful sleep experience coupled with a refreshing and reviving start to each day. Taj SATS Air Catering, a joint venture of the Indian Hotels Company, and SATS (formerly known as Singapore Airport Terminal Services), is the market leader in airline catering.
The Indian Hotels Company Limited (IHCL) is amongst South Asia’s largest Indian hospitality company by market capitalization. It is primarily listed on the BSE and NSE.
Please visit www.tajhotels.com; www.gingerhotels.com
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For more information, please contact: rakhee.lalvani@tajhotels.com