IHCL Reports rs. 71 crore pat for Q2 FY 19-20

Mumbai, November 13, 2019: The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company reported its Consolidated and Standalone financials for the second quarter and half year ending September 30th 2019.

KEY CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDING SEPTEMBER 30th 2019:

Financials reported for 2019/20 are in line with the new accounting lease standards (Ind AS 116), effective 1st April 2019.

Commenting on the performance, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said, “In line with Aspiration 2022, IHCL has now consistently delivered on all key metrics in the last six consecutive quarters. The Company signed a record 14 hotels without any investment, across all its brands. It also is a matter of pride that two iconic Taj Hotels made it to the World’s Ten Best Hotels.”

The company opened four new hotels in the first half of the year – Taj Hotel & Convention Centre, Agra; Cidade de Goa; Ginger Dwarka and Ginger Sanand.

Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL said, “The Company crossed the Rs. 1,000 crores revenue mark in Q2 FY 19-20 for the first time ever in any Quarter 2 as well as Rs. 2,000 crores for H1 19-20.

KEY HIGHLIGHTS

· The 14 signings in H1 for new hotels included three Tajs, five Vivantas, one SeleQtions and five Gingers

· The 4 hotels opened in H1 this year are – Taj Hotel & Convention Centre, Agra; Cidade de Goa; Ginger Dwarka and Ginger Sanand

· The company signed 6 bungalows to Ama Stays & Trails across multiple locations, including new leisure destinations. It also opened two charming villas in Candolim, Goa

· In line with offering our guests a re-imagined experience, IHCL partnered with Ab InBev, the world’s leading brewery, exclusively to launch a chain of premium microbreweries within its marquee hotels across key locations in India. This industry first partnership will jointly invest Rs. 150 crores over the next 5 years, with plans to open 15 microbreweries. The first microbrewery is slated to open at Taj MG Road, Bengaluru by March 2020

· 20% of the Ginger portfolio has now been repositioned in the lean-luxe segment

· The Company relaunched its iconic business club, The Chambers, and the new value proposition will offer a host of enhanced privileges and benefits

· IHCL announced the launch of its new salon brand, niu&nau. The unisex salons will present a re-imagined experience. The first niu&nau opened at Taj Lands End. The brand will be introduced at 10 more locations by the end of 2020

· In keeping with our commitment to develop talent for the future, IHCL partnered with two leading international institutions – Les Roches in Switzerland and ESSEC in France – for scholarship and development programmes

· Ginger announced the ‘Ginger Leadership Program’ in partnership with the Institute of Hotel Management-Aurangabad (IHM-A) to enable IHM-Aurangabad students to accelerate career growth

AWARDS AND RECOGNITION

• Condé Nast Traveler Readers’ Choice Awards 2019 – UK & US | October 2019

o The Best Hotels in the World – Taj Lake Palace, Udaipur ranked #3

o The Best Hotels in the World – Rambagh Palace, Jaipur ranked #7

o Top 15 Hotels in India – Taj Lake Palace, Udaipur ranked at #1

o Top 15 Hotels in India – Rambagh Palace, Jaipur ranked at #2

o Top 15 Hotels in India – Taj Mahal Palace, Mumbai ranked at #9

o Top 15 Hotels in India – Umaid Bhawan Palace, Jodhpur ranked at #11

o Top 15 Hotels in India – Jai Mahal Palace, Jaipur ranked at #12

· National Tourism Awards 2017-2018 by the Ministry of Tourism, and Government of India – Rambagh Palace, Jaipur awarded the Best Five Star Deluxe Hotel | September 2019

· Quilon, London – Awarded the Michelin star for the 13th consecutive year in the Michelin Guide 2020

· Campton Place Restaurant, San Francisco – Earned its second Michelin Star, establishing it as the only Indian-influenced restaurant in the United States and Europe to obtain this recognition. 2019 marks Campton Place Restaurant’s tenth consecutive year as a Michelin-starred restaurant | June 2019

· Travel + Leisure World’s Best Awards - Taj Lake Palace, Udaipur was recognized in the categories of ‘Top 100 Hotels in the World’, ‘Top 15 Resort Hotels in Asia’ and ‘Top 5 India Resort Hotels’ at the annual T+L World’s Best Awards.

· Conde Nast Traveller Hot List 2019 – Taj Exotica Resort & Spa, Andamans featured on Conde Nast Traveller’s coveted ‘Hot List’ and was recognized as one of the best new hotels in the world

· HICSA Hotels of the Year Awards – Taj Aravali Resort & Spa, Udaipur was awarded in the Luxury/Upper Upscale hotel category

About The Indian Hotels Company Limited (IHCL) The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the hallmark of iconic hospitality, SeleQtions, a named collection of hotels, Vivanta, sophisticated upscale hotels and Ginger which is revolutionizing the lean luxe segment.

Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 190 hotels including 38 under development globally across 4 continents, 12 countries and in over 80 locations. The Indian Hotels Company Limited (IHCL) is South Asia’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.

- EBITDA for Q2 at Rs. 182 crores highest, in the last 10 years

- EBITDA margins for Q2 FY at 17.65%, highest in the last 10 years

- Consistent margin expansion achieved in the preceding six quarters

- Signs a record 14 hotels with an inventory of approximately 2000 rooms in the first half of this year

- Opens 4 hotels in H 1 this year and on track to open 12 hotels for FY 19-20

- Taj Lake Palace, Udaipur and Rambagh Palace, Jaipur honoured as “The Best Hotels in the World” in the prestigious Conde Nast Traveller Readers’ Choice Awards 2019 UK & US