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Indian Hotel to turn profitable on consol basis in FY12

Indian Hotels Company or IHCL expects to turn profitable on consolidated basis in FY12, driven by a pick in hotel occupancies and room rates, especially in the domestic market, said its chairman Ratan Tata. Its consolidated operations include domestic and overases properties.

August 05, 2011 / 06:58 PM IST
 
 
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Nachiket Kelkar
Moneycontrol.com


Indian Hotels Company or IHCL expects to turn profitable on consolidated basis in FY12, driven by a pick in hotel occupancies and room rates, especially in the domestic market, said its chairman Ratan Tata. Its consolidated operations include domestic and overases properties.


The company had reported a consolidated loss of Rs 87 crore in 2010-11. The hotel industry was hit due to two-pronged reasons: slower economic recovery and the gruesome terrorist attack in Taj Mahal Palace at Mumbai in 2008. After the 2008 economic recession, both EU and US were grappling to re-emerge out of recessionary impact unlike the developing countries.

Tata

first published: Aug 5, 2011 06:52 pm

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