Sep 12, 2008, 05.09 PM IST | Source: CNBC-TV18

Indian Hotels launches Gateway Hotel

Indian Hotels has launched a new brand of hotels called Gateway Hotels, reports CNBC-TV18. It will transfer 16 existing hotels under Gateway Hotels. The hospitality major plans to launch 50 hotels in 36 months. It has signed 10 new and 15 are under negotiations.

By Shivani Muthanna , CNBC-TV18: 

 

Indian Hotels has launched a new brand of hotels called the Gateway Hotel, reports CNBC-TV18. It will transfer its 16 existing hotels under Gateway Hotels. The hospitality major plans to launch 50 hotels in 36 months. It has signed 10 new hotels and 15 are under negotiations.

 

The re-branding is being carried-out in order to bring in a contemporary and up-scale image. The re-branding will include a change in signage, staff uniform, room renovation, and variation in menu. An investment of Rs 40-50 lakh per room will be undertaken for this purpose.

 

Raymond Bickson , MD and CEO,  Indian Hotels Company, said they will have different room sizes and additional services based on demand and supply. "We will raise the bar of existing ones and bring it on par with international players coming into the market place."

 

Indian Hotels stock price

On April 16, 2014, Indian Hotels Company closed at Rs 74.70, down Rs 0.5, or 0.66 percent. The 52-week high of the share was Rs 79.00 and the 52-week low was Rs 37.55.


The latest book value of the company is Rs 40.96 per share. At current value, the price-to-book value of the company was 1.82.

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