Business
Strategy Statement
Strategy Statement.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n India Hospitality Corp.\n28 September 2007\n\n\nFor Immediate Release 28 September 2007\n \n\n India Hospitality Reaffirms Growth Strategy\n\n\nNew York, NY. - September 28, 2007 - Following the successful acquisition of\nMars Restaurants and SkyGourmet in July 2007, India Hospitality Corp. (LSE: IHC,\nIHC or India Hospitality) today reaffirmed its commitment to its original\nstrategy of acquiring leisure, hospitality and travel related companies in India\nthat are well positioned to benefit from the country's long-term economic\ngrowth, especially from the expansion of the middle class and increasing\ndomestic business and leisure travel.\n\n\nMr. Jason Ader, Chairman of the Board of India Hospitality stated, 'We have\nnever wavered from our original strategy to participate in the exciting growth\nof India's economy and middle class through businesses that operate in the\nleisure and travel industries. In particular, India Hospitality is very excited\nabout the long-term growth prospects of Mars and SkyGourmet and we are committed\nto their long-term growth and prosperity.'\n\n\nIn July 2007, IHC closed on the acquisition of India-based Mars Restaurants\nPrivate Limited (MRPL or Mars), an emerging hotel and restaurant company, and\nSkyGourmet Catering Private Limited (SCPL or SkyGourmet), an airline catering\ncompany operating out of four locations in India, for an aggregate purchase\nprice of US $110 million.\n\n\nThe Company maintains an option to purchase Nirula's, a leading restaurant chain\nin India. Nirula's recently announced it is revamping existing outlets and\nramping up growth from 54 locations to 200 over the next two years.\n\n\nAbout India Hospitality Corp.\n\nIHC was created as a blank-check company to acquire Indian businesses or assets\nin the hospitality, leisure, tourism, travel and related industries, including\nbut not limited to hotels, resorts, timeshares, serviced apartments and\nrestaurants.\n\n\nIn August 2006, IHC raised US $103 million in an IPO and private placement and\nis listed on AIM, a market operated by London Stock Exchange plc, under the\nticker IHC. The Company was sponsored and advised by Hayground Cove Asset\nManagement LLC, a New York-based investment management firm with approximately\nUS $1.9 billion in assets under management.\n\n\nAbout Mars and SkyGourmet\n\nSince its incorporati...