Business
ICR XChange Conference
ICR XChange Conference.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n India Hospitality Corp.\n09 January 2008\n\n\n\n\nFor Immediate Release 9 January 2008\n\n\n India Hospitality Corp.\n\n\n\n India Hospitality Corp. to Present at the Tenth Annual ICR XChange Conference\n\n\nNew York, NY - January 9, 2008 - India Hospitality Corp. (LSE: IHC, IHC or India\nHospitality), today announced that the Company will be presenting at the Tenth\nAnnual ICR XChange Conference on Thursday, January 17, 2008 at the St. Regis\nMonarch Beach Resort & Spa in Dana Point, CA. The presentation will begin at 1:\n50 PM Pacific Time.\n\n\nInvestors and interested parties may listen to the webcast of this presentation\nby visiting the Company's website at www.indiahospitalitycorp.com under the\ninvestor relations section at the appropriate time.\n\n\nAbout India Hospitality Corp.\n\n\nIn August 2006, India Hospitality Corp. raised US $103 million in an IPO and\nprivate placement and is listed on AIM, a market operated by London Stock\nExchange plc, under the ticker IHC. IHC was originally created as a blank check\ncompany and was sponsored and advised by Hayground Cove Asset Management LLC, a\nNew York-based investment management firm.\n\n\nIn July 2007, IHC closed on the acquisition from Navis Capital Partners and its\nAffiliates of India-based Mars Restaurants Private Limited ('Mars'), an emerging\nhotel and restaurant company, and SkyGourmet Catering Private Limited\n('SkyGourmet'), an airline catering company with 1,700 employees operating out\nof four locations in India.\n\n\nIn December 2007, in order to fund strategic growth initiatives, Hayground Cove\nand Navis Capital jointly invested US $28 million of additional capital in IHC,\nbringing their total invested capital to US $56 million. Following such\nreinvestment, Hayground Cove and Navis own approximately 52% of India\nHospitality.\n\n\nIHC generated approximately US $30 million in unaudited consolidated revenues in\nfiscal year ended March 31, 2007, an approximate 50% increase from 2006.\n\n\nAbout Mars and SkyGourmet\n\n\nSince its incorporation in 2000, Mars has diversified into bakery outlets and\noperating and managing food courts and hotels. SkyGourmet was incorporated in\n2002 and is headquartered in Mumbai. SkyGourmet currently provides in-flight\ncatering services to a number of domestic and international airlines, including\nJet Airways, King...