IHCL DELIVERS RESPONSIBLE PROFITABLE GROWTH WITH BEST Q1 PERFORMANCE IN THE COMPANY’S HISTORY

~ CONSOLIDATED EBITDA OF INR 405 CRORES 

~  RECORD Q1 CONSOLIDATED EBITDA MARGIN OF 31.3% AND STANDALONE EBITDA MARGIN OF 36.5%  

MUMBAI, AUGUST 8, 2022: The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated and standalone financials for the first quarter ending June 30th, 2022.

DELIVERS PROFITABLE GROWTH

- Revenue of INR 1,293 crores in Q1 FY 2022-23, an increase of 250% over Q1 FY 2021-22

- EBITDA of INR 405 crores in Q1 FY 2022-23 – a swing of INR 528 crores from Q1 FY 2021-22

- PAT of INR 170 crores in Q1 FY 2022-23

- All brands displayed growth and key metro cities such as Mumbai, New Delhi and Bengaluru showcased RevPAR levels exceeding that of Q1 FY 2019-20

- IHCL generated free cash flow in each month of the first quarter and remains net cash positive

MAINTAINS ITS ICONIC STATUS

- IHCL’s iconic brand, Taj, has received the honour of being rated as the World’s Strongest Hotel Brand for the second consecutive year by Brand Finance Hotels 50 Report 2022

- Taj has also been rated as India’s Strongest Brand for the second time as per Brand Finance 2022

IS INDIA’S FASTEST GROWING HOSPITALITY ECOSYSTEM

Robust industry-leading portfolio growth

- Signed 10 new hotels to date in the current financial year, with three hotels each under the Taj and Ginger brands, and two hotels each under the SeleQtions and Vivanta brands

- Enveloping India with presence in over 100 locations, IHCL has further strengthened its pan-India footprint with the opening of four new hotels to date in the current fiscal, including Taj City Centre, New Town – Kolkata; Anand Kashi by the Ganges, Rishikesh - IHCL SeleQtions, Vivanta Katra, Vaishno Devi and Ginger Goregaon, Mumbai

- IHCL has received letter of awards for four upcoming hotels – two each in Diu and Lakshadweep, taking the pipeline to over 60 hotels

-  Oriental Hotels Limited, an associate company, has emerged as the highest bidder for the lease renewal of the iconic Taj Malabar Resort & Spa, Cochin

New businesses contributing significantly to scale and margin expansion

- Ginger achieved an EBITDA margin of 41% and positive Profit Before Tax (PBT) in Q1 FY 2022-23

- Qmin, IHCL’s culinary platform, achieved the INR 100 crore revenue mark within two years of its inception, and is currently present in over 20 cities with 15 outlets and 3 food trucks

- The launch of the first Qmin at Ginger Goa, Panaji continues the brand’s expansion

- The amã Stays & Trails homestay portfolio grew to over 90 bungalows across the country

GUIDED BY SUSTAINBLE BUSINESS PRACTICES

- Paathya, IHCL’s six-pillared ESG+ framework, will continue to drive the company’s sustainability and social impact measures such as:

  - The delivery of over 57,000 Qmin meals to flood-affected families across 17 villages in Assam

  - The establishment of 10 heritage sites in collaboration with UNESCO to preserve India’s intangible culture

  - Obtaining 29% of energy at IHCL’s hotels from renewable sources

Commenting on the Q1 performance Mr. Puneet Chhatwal, Managing Director & CEO, IHCL said, “IHCL has reported its best first quarter in the company’s history. This performance has been boosted by a surge in demand across markets and segments, with both, occupancy and rates exceeding pre-COVID levels. This has resulted in a milestone EBITDA Margin of 31.3%, which is an improvement of 1140 bps over Q1 FY 2019-20. In line with our vision of Ahvaan 2025, IHCL will continue on its trajectory of delivering responsible profitable growth.”

The company’s long-term growth will also focus significantly on digital enablers such as the super app – Tata Neu. As a founding member of Tata Neu, IHCL has seen a 50% increase in its loyalty members since the launch of the app.

Mr. Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL said, “The revenue performance in the quarter has been encouraging as it is broad based across key markets and brands. This combined with continued cost monitoring measures has led to margin expansion across all IHCL group companies. IHCL Consolidated has thereby reported a strong free cash flow of Rs.198 crores for the quarter and continues to be net cash positive.”

About The Indian Hotels Company Limited

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 iconic brand for the most discerning travellers and ranked as the World’s Strongest Hotel Brand and India’s Strongest Brand as per Brand Finance Hotels 50 Report 2022 and India 100 Report 2022, respectively; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising 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 242 hotels including 63 under development globally across 4 continents, 11 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.

Please visit: www.ihcltata.com; www.tajhotels.com; www.seleqtionshotels.com; www.vivantahotels.com; www.gingerhotels.com

 

AWARDS AND RECOGNITION FOR FY 2022-23

  • BRAND FINANCE HOTELS 50 2022: Taj has been ranked as the World’s Strongest Hotel Brand 2022 by Brand Finance for the second consecutive time
  • BRAND FINANCE INDIA 100 2022: Taj has been rated as India’s Strongest Brand across sectors by Brand Finance for the second time. Taj has received a brand strength index (BSI) score of 88.9 out of 100 and a corresponding elite AAA brand strength
  • GOLDEN PEACOCK AWARD FOR RISK MANAGEMENT: IHCL has won the prestigious Golden Peacock Award for Risk Management for the year 2021
  • TRAVEL+LEISURE TOP 500 READER’S BEST AWARDS 2022: Multiple iconic hotels have been featured in these prestigious global reader’s choice awards
    • Rambagh Palace, Jaipur (Asia)
    • Taj Holiday Village Resort & Spa, Goa (Asia)
    • Taj Lake Palace, Udaipur (Asia)
    • Taj Palace, New Delhi (Asia)
  • TRAVEL+LEISURE WORLD'S BEST AWARDS 2022: Several of our hotels have been featured in the coveted awards across multiple categories
    • IHCL has been featured in the World’s Best Hotel Brands list
    • Best 100 Hotels in the World
      • Taj Lake Palace, Udaipur
      • Taj Falaknuma Palace, Hyderabad
    • Best 15 Resorts in Asia
      • Taj Palace , Delhi
      • Taj Lake Palace, Udaipur
      • Taj Falaknuma Palace, Hyderabad
      • Rambagh Palace, Jaipur
      • Taj Holiday Village Resort & Spa, Goa
      • Taj Lands End, Mumbai
    • Best 15 City Hotels in Asia
      • Taj Palace , Delhi
      • Taj Lands End, Mumbai
    • Best City Hotels in India
      • Taj Palace , Delhi
      • Taj Lands End, Mumbai
    • Best Resorts in India
      • Taj Lake Palace, Udaipur
      • Taj Falaknuma Palace, Hyderabad
    • Best in New York
      • The Pierre, New York