Indian Hotels Co. Ltd. · NSE:INDHOTEL
Indian Hotels — The Indian Hotels Company — Q1 FY2023/24 Earnings Presentation
65 slides from Indian Hotels's earnings presentation, Jul 27, 2023
Slide 1: Analyst presentation cover letter to exchanges
July 27, 2023 BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Exchange Plaza 1st Floor, New Trading Ring, Bandra Kurla Complex Rotunda Building, P. J. Towers, Bandra (E) Dalal Street, Fort, Mumbai 400 051 Mumbai – 400 001. Scrip Code: INDHOTEL Scrip Code: 50085
Slide 2: Delivering Responsible Profitable Growth
Delivering Responsible Profitable Growth GLOBAL CONFERENCE CALL Q1 2023/24 27th July, 2023 1
Slide 3: Taj ranked strongest brand in India
paceeeeeeeeel Sd, bt TAJ Ranked Once Again as STRONGEST BRAND IN INDIA ACROSS SECTORS & INDUSTRIES By Brand Finance’ 2023 ¢ 2022 + 2020
Slide 4: Rambagh Palace rated world's #1 hotel by TripAdvisor
RAMBAGH PALACE RAMBAGH PALACE RATED WORLD’S #1 HOTEL RATED WORLD’S #1 HOTEL BY TRIPADVISOR Source Source : 2023 : 2023 Travellers’ Travellers’ Choice Choice Awards Awards byby TripAdvisor TripAdvisor 3
Slide 5: Executive Summary Key Highlights
EXECUTIVE SUMMARY KEY HIGHLIGHTS 1 2 3 4 India Hospitality Showcases IHCL Delivers Consumption Upcycle Outperformance Best-ever Q1 Story Intact Continues vs. Industry 10 5 Investing in Brand Sustained Growth Building and in Portfolio Paathya 9 8 7 6 New Businesses Increasing TajSATS Record Diversifi
Slide 6: The Indian growth story intact – IMF raises growth forecast
THE INDIAN GROWTH STORY INTACT – IMF RAISES GROWTH FORECAST 7.0% GDP Growth Estimate – IMF Outlook for 2023 6.1% 5.9% 6.0% 5.2% 5.2% 5.0% 4.0% 3.0% 3.0% 2.8% 2.0% 1.8% 1.6% 0.8% 0.9% 1.0% 0.0% WORLD USA EU CHINA INDIA Apr 2023 Estimate July 2023 Estimate Private Consumption stands at 55% of GDP in I
Slide 7: India consumption story: rising per capita income
INDIA CONSUMPTION STORY RISING PER CAPITA INCOME India’s Per Capita GDP (in USD) – to more than DOUBLE in ten years 5,242 Rising Per Capita Income leading to surge in Disposable Income, 2,278 Driving Higher 1,460 Discretionary Spends. 270 301 451 1982 1992 2002 2012 2022 2032 Source: PwC analysis ba
Slide 8: India consumption story: macro-economic tailwinds
INDIA CONSUMPTION STORY MACRO-ECONOMIC TAILWINDS Services Economy Declining Favorable Demography Inflation Rates Gen Z and Empty nesters Higher Government Focus Discretionary Income On Infrastructure 7
Slide 9: Government focus on developing infrastructure
GOVERNMENT FOCUS ON DEVELOPING INFRASTRUCTURE 80 New Airports Expected in next 5 years Developing Tourism in 45 Projects Mission Mode Sanctioned under PRASHAD Scheme US$ 1 Trillion e-Tourist Visa Facility for Tourism Economy by 2047 165 Countries 8
Slide 10: Hospitality upcycle continues
HOSPITALITY UPCYCLE CONTINUES Hotel Demand Grew By Rooms Supply Grew By 8.0% 6.7% (vs. FY20) IN Q1 FY24 (vs. FY20) IN Q1 FY24 Healthy Growth Sustained Supply Growth to Remain Sluggish DEMAND GROWTH CONTINUES TO OUTPACE SUPPLY Source: STR 9
Slide 11: IHCL well-placed to benefit from industry & macro tailwinds
IHCL WELL-PLACED TO BENEFIT FROM INDUSTRY & MACRO TAILWINDS › India – the fastest growing major economy in the world. › India’s G20 Presidency, a strong enabler for the nation. › Strong Focus on Infrastructure Development. MACRO-ECONOMIC › Upcycle continues with Demand outpacing Supply › Indian Hosp
Slide 12: IHCL delivers best-ever Q1
IHCL DELIVERS BEST-EVER Q1 ↑ 22% Enterprise Revenue ₹ 2,840 Crore ₹ 1,516 Crore ↑ 17% Enterprise Revenue Consol. Revenue Consol. Revenue INCREASE ↑ 13% OVER Q1 FY23 Consol. EBITDA ₹ 459 Crore ₹ 222 Crore Consol. EBITDA Consol. PAT ↑ 31% Consol. PAT 11
Slide 13: Best-ever Q1: highest Q1 revenue, EBITDA & PAT
BEST-EVER Q1 HIGHEST Q1 REVENUE, EBITDA & PAT PARTICULARS Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 (₹ CR) 23-24 22-23 21-22 20-21 19-20 18-19 17-18 16-17 15-16 14-15 13-14 12-13 11-12 REVENUE 1,516 1,293 370 175 1057 995 920 962 922 954 928 866 724 EBITDA 459 405 (123) (234) 210 126 99 108 115 97 125
Slide 14: Commanding industry premium like for like comparison
COMMANDING INDUSTRY PREMIUM LIKE FOR LIKE COMPARISON AVERAGE RATES (ARR) OCCUPANCY RevPAR 9,400 70% 6,500 62% 6,800 Industry-Leading 4,200 Metrics (Q1 FY2023/24) ₹/night Industry IHCL Industry IHCL ₹/night Industry IHCL Source: STR Industry IHCL Domestic (Same Store) Note: ARR, RevPAR rounded off to
Slide 15: Robust performance across brands
ROBUST PERFORMANCE ACROSS BRANDS Y-o-Y ARR ↑ 10 % ↑ 17 % ↑ 1% Occupancy ↑ 3% ↓ .2% ↑ 8% RevPAR ↑ 15 % ↑ 16 % ↑ 15 % * Data for IHCL Enterprise hotels including Ginger 14
Slide 16: Enveloping India: greater degrees of freedom
ENVELOPING INDIA GREATER DEGREES OF FREEDOM 5 hotels 5 hotels 1 hotel 4 hotels 1 hotel 9 hotels 2 hotels 5 hotels 19 hotels 3 hotels 249 Hotels, 126 amã in India 7 hotels 3 hotels 4 hotels 23 hotels 21 hotels 1 hotel Present Across 125+ Locations, 30+ States & UTs 9 hotels 10 hotels 1 hotel 6 hotels
Slide 17: Growth momentum continues: 11 signings, 5 openings
GROWTH MOMENTUM CONTINUES 11 SIGNINGS, 5 OPENINGS 1 2 1 1 5 OPENINGS 4 3 3 1 11 SIGNINGS Signed average ~3 hotels every month in Q1 23/24 16
Slide 18: Diversification of topline
DIVERSIFICATION OF TOPLINE Management Fee Building 187 214 Resilient Topline 106 Q1 FY20 Q1 FY23 Q1 FY24 Revenue from Management Fee, Chamber Membership, Ginger , Ama & Qmin. 17
Slide 19: The re-imagined TajSATS record Q1 performance
THE RE-IMAGINED TajSATS RECORD Q1 PERFORMANCE Revenue EBITDA EBITDA Margin Market Share ₹ 205 Crore ₹ 50 Crore 24.5 % 59 % (up 55% YoY) (up 161% YoY) (up 10 pp YoY) (by no. of meals) 24.5% EBITDA Margin (10 pp Margin Expansion YoY) 18
Slide 20: Ginger enterprise revenue crosses ₹100 Crore
GINGER ENTERPRISE REVENUE CROSSES ₹ 100 Crore PERFORMANCE LEAN LUXE PERFORMANCE DRIVERS SEGMENT 7 Hotels 50% ₹ 100 Cr Being upgraded FY24 Lean Luxe Portfolio Enterprise Revenue 19 Outlets 3400 ₹ 78 Cr Qminization of Ginger Same Store ARR RCL Revenue 85 78% 37% # Hotels Portfolio Today Occupancy (↑11
Slide 21: New businesses well geared to scale-up
NEW BUSINESSES WELL GEARED TO SCALE-UP ₹ 170 Crore GMV Since Inception 125+ Properties across 40 Outlets (50%: Ginger) 50+ Presence Across Locations 19 Cities 20
Slide 22: Renovations, new openings to drive not like-for-like growth
RENOVATIONS, NEW OPENINGS TO DRIVE NOT LIKE-FOR-LIKE GROWTH MUMBAI AIRPORT Renovation Completed Closed due to Renovation New Hotel – Flagship Ginger Fully operational from Q2 2023/24 Scheduled to re-open in H2 2023/24 Grand Opening in H2 2023/24 AssetAsset Management – Preview Management Asset Manag
Slide 23: Building capabilities to drive direct to customer (D2C)
BUILDING CAPABILITIES TO DRIVE DIRECT TO CUSTOMER (D2C) Digital Projects Marketing Campaigns Tata Neu Integration D2C Business Magical Monsoon Memories New Website Taj Celebrates Azadi ka Amrit Total Members 2 Mn → 4.6 Mn D2C contribution at 70% New Mobile App Mahotsav 3x Growth in Active Members in
Slide 24: Investing in brand building: Wellness Circle
INVESTING IN BRAND BUILDING J WELLNESS CIRCLE 23
Slide 25: Investing in brand building: House of Ming, St. James' Court
INVESTING IN BRAND BUILDING HOUSE OF MING, ST. JAMES’ COURT 24
Slide 26: Investing in brand building: Rick's
INVESTING IN BRAND BUILDING RICK’S 25
Slide 27: Investing in brand building: Taj Club
INVESTING IN BRAND BUILDING TAJ CLUB 26
Slide 28: Doing business the responsible way
DOING BUSINESS THE RESPONSIBLE WAY PAATHYA - 2030 GOALS 100% 100,000 50% 100% Waste Water Youth Energy from Hotels Recycled / Reused Skilled for Livelihood Renewable Sources EarthCheck Certified 100% 100% 100% Hotels go Beyond Adoption of UNESCO’s Intangible Business Meetings & Single-Use Plastic Fr
Slide 29: Doing business the responsible way: Paathya 2030 targets
DOING BUSINESS THE RESPONSIBLE WAY PAATHYA 2030 TARGETS Waste Waste Water Energy All hotels to provide Skilling 100% elimination of 100% operating hotels 100% water 50% energy use to EV charging stations Empowering livelihoods single-use plastic will have an organic recycling be from renewables of 1
Slide 30: Board approvals – disclosure under LODR
BOARD APPROVALS – DISCLOSURE UNDER LODR Approval for Acquisition in Pamodzi Hotels Plc • The Board of Directors has granted in-principle approval for IHCL or one of its subsidiaries, Subject to receipt of requisite approvals, to purchase 100% equity of Pamodzi Hotels Plc ( presently a listed company
Slide 31: Financial Performance Q1 2023/24
FINANCIAL PERFORMANCE Q1 2023/24 30
Slide 32: IHCL consolidated P&L statement
IHCL CONSOLIDATED P & L STATEMENT Q1 2023-24 724 PBT PAT +16% Revenue from Operations EBITDA 294 222 19% Margin 15% Margin Room 1,466 459 Revenue +16% 30.3% Margin Total Revenue - 1.0 pp Tax 1,516 +17% 83 525 Other +12% Others * F&B Expenses Revenue 12 98 166 Management +20% Fee Depreciation 119 109
Slide 33: IHCL standalone P&L statement
IHCL STANDALONE P & L STATEMENT Q1 2023-24 377 PBT PAT +16% Revenue from Operations EBITDA 254 188 27% Margin 20% Margin Room 890 338 Revenue +17% 336.2% Margin Total Revenue - 0.3 pp Tax 935 +19% 66 320 Other F&B +14% Expenses Revenue 95 84 Management +20% Fee Depreciation 99 54 +31% Operating Othe
Slide 34: RevPAR growth higher than historical averages
REVPAR GROWTH HIGHER THAN HISTORICAL AVERAGES HISTORICAL RevPAR QUARTERLY RevPAR FY23 9,300 7,750 7400 8,800 6,100 11% 5,800 6% 7,750 ₹ / Night 8% 6,700 5,600 5,350 6,100 -8% 7% FY17 FY18 FY19 FY20 FY23 Q1 Q2 Q3 Q4 FY 22/23 23/24 • RevPAR IHCL Enterprise Domestic (excl ginger) Standalone RevPAR Grow
Slide 35: Robust RevPAR growth across cities
ROBUST REVPAR GROWTH – Across Cities 12% 19% 15% 14% 12% 18% 9% 12% 7% 15% India Mumbai Delhi & NCR Bengaluru Goa Chennai Rajasthan Hyderabad Kolkata Kerala Domestic Hotels – Like for Like (₹ ) Q1 2023/24 Q1 2022/23 34
Slide 36: RevPAR growth in key international markets
REVPAR GROWTH IN KEY INTERNATIONAL MARKETS 2% 21% -22% 33% 32% USA UK Maldives Cape Town Dubai International Hotels RevPAR in $ Q1 2023 Q1 2022 35
Slide 37: Strong P&L performance: domestic & international ops profitable
STRONG P&L PERFORMANCE DOM. & INTL. OPS PROFITABLE DOMESTIC INTERNATIONAL PARTICULARS (₹ CR) Q1 23-24 Q1 22-23 Var% Q1 23-24 Q1 22-23 Var% Total Revenue 1,159 991 17% 356 302 18% Total Expenditure 767 645 19% 289 243 19% EBITDA 392 345 14% 67 60 13% EBITDA Margin 33.9% 34.9% - 18.8% 19.7% - Profit/
Slide 38: Asset light & high margin focus – management fees
ASSET LIGHT & HIGH MARGIN FOCUS - MANAGEMENT FEES 98 81 47 ₹/ Crores Q1 FY20 Q1 FY23 Q1 FY24 Increase in hotels under management , to fuel High Flow Through 21% increase Management Fee Growth YoY vs 22/23 37
Slide 39: Continued focus on Chambers high margin business
CONTINUED FOCUS ON CHAMBERS HIGH MARGIN BUSINESS 2,650 50+ ₹28 crs > 80% Members Total Chambers Added(Net) in Q1 10% Revenue growth Flow through Members 2023/24 from 22/23 38
Slide 40: Costs as a percentage of consolidated revenues
COSTS AS A PERCENTAGE OF CONSOLIDATED REVENUES Fixed Costs as % of Revenue Variable Costs as % of Revenue 37.0% 37.5% 34.8% 35.0% Q1 2022/23 Q1 2023/24 Q1 2022/23 Q1 2023/24 Fixed cost controlled despite spends on Expenses linked to Occupancy and property upkeep and Increments Enhanced Customer Expe
Slide 41: Costs as a percentage of consolidated revenues
COSTS AS A PERCENTAGE OF CONSOLIDATED REVENUES Raw Material Costs as % of F & B Revenue Payroll PayrollCosts Costs as % of as % ofRevenue Revenue 22.2% 22.0% 27.8% 28.3% Investment in Human Capital • Increments • Recruitments • Wellness Q1 22/23 Q1 23/24 Q1 22/23 Q1 23/24 Other Costs as % of Revenue
Slide 42: Focus on free cash flow generation – IHCL consolidated
FOCUS ON FREE CASH FLOW GENERATION – IHCL CONSOLIDATED Movement in free cash flow ₹ /crores Free Cash Flow ₹ 47 crores 41
Slide 43: Balance sheet strength continues
BALANCE SHEET STRENGTH CONTINUES…. DEBT FREE ₹ 889 crores ₹ 600 crs + IHCL Standalone Consolidated Capex Expected Debt Free as on 30th June Net Cash as on 30th June in FY 2023/24 42
Slide 44: Key highlights – Q1 2023/24
KEY HIGHLIGHTS – Q1 2023/24 ₹ /crores IHCL ENTERPRISE IHCL CONSOLIDATED IHCL STANDALONE 22% 21% 17% 13% 19% 18% 1,516 2,840 2,332 31% 31% 1,293 30% 31% 935 36% 37% 788 874 719 459 405 338 287 Revenue EBITDA Revenue EBITDA Revenue EBITDA Q1 23/24 Q1 22/23 Q1 23/24 Q1 22/23 Q1 23/24 Q1 22/23 YoY Chang
Slide 45: IHCL subsidiaries
IHCL SUBSIDIARIES ₹ /crores PIEM HOTELS LTD ROOTS CORPORATION LTD BENARES HOTELS LTD 8% -2% 12% -1% 30% 31% 21% 23% 35% 39% 39% 38% 78 122 113 26 70 20 10 8 26 27 27 25 Revenue EBITDA Revenue EBITDA Revenue EBITDA Q1 23/24 Q1 22/23 Var % Q1 23/24 Q1 22/23 Var % Q1 23/24 Q1 22/23 Var % YoY Change – R
Slide 46: IHCL subsidiaries
IHCL SUBSIDIARIES ₹ /crores UOH Inc. USA St. James Court, London 9% -74% 29% 39% 184 3% 11% 142 34% 32% 168 110 49 35 18 5 Revenue EBITDA Revenue EBITDA Q1 23/24 Q1 22/23 Var % Q1 23/24 Q1 22/23 Var % YoY Change – Revenue & EBITDA EBITDA Margin % 45
Slide 47: JV's & associate companies
JV’s & ASSOCIATE COMPANIES ₹ /crores TAJ SATS AIR CATERING LTD ORIENTAL HOTELS LTD 55% 161% 3% -14% 25% 15% 94 91 25% 30% 205 132 19 23 27 50 Revenue EBITDA Revenue EBITDA Q1 23/24 Q1 22/23 Var % Q1 23/24 Q1 22/23 Var % YoY Change – Revenue & EBITDA EBITDA Margin % 46
Slide 48: Q1 2023/24 – performance of key legal entities
Q1 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 184 5 (16) (17) St. James Court - UK 142 49 30 22 PIEM Hotels Ltd. 122 25 14 10 Roots Corporation Ltd 78 27 8 6 Benares Hotels Ltd. 26 10 8 6 Taj SATS Air Cat. Ltd. 205 50 45 34 Oriental Hotel
Slide 49: Q1 2023/24 – Revenue metrics (domestic)
Q1 2023/24 - Revenue Metrics (Domestic) Standalone Enterprise (Domestic) Particulars Q1 FY24 Q1 FY23 Var Q1 FY24 Q1 FY23 Var Occupancy % 74.7 70.4 +4.4 67.1 65.2 +1.9 ARR in ₹ 12,614 11,397 +11% 9,128 8,315 +10% RevPAR in ₹ 9,428 8,021 +18% 6,126 5,424 +13% (₹/ crores) Room Revenue 377 325 +16% 1,03
Slide 50: Annexures
ANNEXURES 49 TAP SeLEQnons VIVANTA GINGER am& Qmin TH@ INCL
Slide 51: Market segment – room revenue (all hotels excl Ginger)
MARKET SEGMENT – ROOM REVENUE (ALL HOTELS EXCL GINGER) Q1 2023 -24 VS 2022-23 900 800 Q1 - 2023/24 Q1 - 2022/23 700 600 500 400 300 200 100 - Transient Corporate MICE Long Stay Leisure Groups Crew % of Revenue 16% 3% 9% 1% 2% 58% 11% Q1 -2023/24 % of Revenue 4% 1% 2% 58% 11% 16% 8% Q1 -2022/23 Sourc
Slide 52: Market segment – room revenue (Ginger)
MARKET SEGMENT – ROOM REVENUE (GINGER) Q1 2023 -24 VS 2022-23 50 45 Q1 - 2023/24 Q1 - 2022/23 40 35 30 25 20 15 10 5 - Transient Corporate MICE Long Stay Leisure Crew % of Revenue 61% 30% 4% 1% 2% 1% Q1 -2023/24 % of Revenue 1% 1% 1% 0.1% 66% 31% Q1 -2022/23 Source : Synxis & Hotel Internal Reports
Slide 53: Channels – room revenue (all hotels excl Ginger)
CHANNELS – ROOM REVENUE (ALL HOTELS EXCL GINGER) Q1 2023 -24 VS 2022-23 700 Q1 - 2023/24 Q1 - 2022/23 600 500 400 300 200 100 - HRO TRW GDS ADS Taj Website % of Revenue Q1 -2023/24 48% 8% 5% 25% 14% % of Revenue Q1 -2022/23 50% 7% 5% 24% 14% 52
Slide 54: Channels – room revenue (Ginger)
CHANNELS – ROOM REVENUE (GINGER) Q1 2023 -24 VS 2022-23 Q1 - 2023/24 Q1 - 2022/23 HRO TRW GDS ADS Taj Website % of Revenue Q1 -2023/24 37% 12% 1% 46% 4% % of Revenue Q1 -2022/23 42% 6% 1% 47% 4% 53
Slide 55: India (LFL) – city wise revenue statistics
India (LFL) – CITY WISE REVENUE STATISTICS Q1 2023-24 vs 2022-23 Occ % ARR in ₹ RevPAR in ₹ Domestic Hotels - Q1 LFL ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % Mumbai 86% 82% 4% 12,222 10,830 13% 10,502 8,838 19% Delhi & NCR 76% 76% 0% 8,273 7,174 15% 6,286 5,446 15% Bengaluru 77
Slide 56: International – city wise revenue statistics
International – CITY WISE REVENUE STATISTICS Q1 2023-24 vs 2022-23 Occ % ARR in $ RevPAR in $ International Hotels $ - Q1 ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % USA 61% 59% 3% 645 660 -2% 396 387 2% UK 79% 74% 4% 480 419 14% 378 311 21% Maldives 57% 65% -9% 541 601 -10% 306 3
Slide 57: Q1 2023/24 consolidated P&L
Q1 2023/24 CONSOLIDATED P&L Q1 PARTICULARS Var % (₹ CR) CY 23/24 PY 22/23 Vs 22/23 Revenue from Operations 1,466 1,266 16% Non-Operating Revenue 49 27 + Total Revenue 1,516 1,293 17% Raw Material Cost 115 104 11% Employee Benefits 429 360 19% Fuel, Power and Light 80 76 4% Other Expenditure 432 348
Slide 58: Q1 2023/24 standalone P&L
Q1 2023/24 STANDALONE P&L Q1 PARTICULARS (₹ CR) Var % CY 23/24 PY 22/23 Vs 22/23 Revenue from Operations 890 761 17% Non-Operating Revenue 45 27 66% Total Revenue 935 788 19% Raw Material Cost 70 65 8% Employee Benefits 202 170 19% Fuel, Power and Light 51 48 5% Other Expenditure 273 217 26% Total E
Slide 59: Manpower / room by brand
MANPOWER / ROOM BY BRAND 3.39 3.22 2.93 2.81 2.17 2.10 1.95 1.50 1.48 1.35 0.48 0.51 Taj Palaces SeleQtions Vivanta Safari Ginger Apr-20 Jun-23 # Ginger – Increase on account of Qminization of Ginger which increases F&B revenue. Overall Manpower/Room lower than Pre-COVID. 58
Slide 60: IHCL hotel brandscape as of June 30, 2023
IHCL HOTEL BRANDSCAPE - AS OF JUNE 30, 2023 Hotels Pipeline Hotels Total Hotels Brands (Rooms) (Rooms) (Rooms) 82 20 102 Taj (11,741) (3,981) (15,722) 28 21 49 Vivanta (3,889) (2,856) (6,745) 22 12 34 SeleQtions (1,441) (1,319) (2,760) 59 26 85 Ginger (4,965) (3,047) (8,012) 191 79 270 TOTAL (22,036
Slide 61: Inventory in pipeline
INVENTORY IN PIPELINE 2023-24 2026-27 & Pipeline Brands 2024-25 2025-26 No. of Hotels Jul-Mar 2027-28 Rooms Taj 699 829 1,228 1,225 3,981 20 IHCL & Group 161 122 220 503 3 Management Contracts 699 668 1,106 1,005 3,478 17 SeleQtions 450 741 128 1,319 12 Management Contracts 450 741 128 1,319 12 Viva
Slide 62: Hotels opened in Q1 FY24
HOTELS OPENED IN Q1 FY24 Hotel Name Brand Ownership Inventory Taj Gandhinagar Taj Management Contracts 75 The Yellow House, Anjuna - an IHCL SeleQtions hotel SeleQtions Management Contracts 49 The Crown Bhubaneshwar, IHCL SeleQtions SeleQtions Management Contracts 80 Vivanta Jammu Vivanta Management
Slide 63: Upcoming hotels in FY 23-24 (Aug – Mar)
UPCOMING HOTELS IN FY 23-24 ( Aug – Mar) Hotel Name Location Ownership Inventory Taj The Trees, Vikhroli Mumbai Management Contracts 151 Taj Resort, Guras Kutir, Gangtok Gangtok Management Contracts 69 Taj Hotel at Ambuja City Centre Patna Patna Management Contracts 124 Taj Taal Kutir Convention Cen
Slide 64: Disclaimer
DISCLAIMER These presentations may contain forward-looking statements within the meaning of applicable securities laws. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Forward-looking statements are not g
Slide 65: Delivering Responsible Profitable Growth
Delivering Responsible Profitable Growth GLOBAL CONFERENCE CALL Q1 2023/24 27th July, 2023 64
The Indian Hotels Company — Q1 FY2023/24 Earnings Presentation on 6ix