In an interview to CNBC-TV18, Amit Jaiswal, CFO of Royal Orchid Hotels spoke about the benefits from goods and services tax (GST) and his outlook going forward.
Got a benefit of 3 percent due to GST and passed on the benefit to customers, said Jaiswal.
He further said that occupancy level has gone beyond 75 percent due to GST.
Jaiswal said looking to increase average revenue per room to Rs 3,600 going ahead. Will be adding 800 rooms this year, he added.
Royal Orchid is in talks to dispose off non-core assets, Jaiswal said.
Talking about hotel properties, he said value of Powai and Tanzania (Africa) lands should be around Rs 80 crore. Currently two properties (Central in Bangalore and Hotel Royal Orchid, Jaipur) are making losses, he further mentioned.
According to him, hotel operations in Jaipur may turnaround in FY18.
Watch accompanying video for more details.
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