PUNEET CHHATWAL
Stocks in news: Wipro, Angel One, HDB Financial, Clean Max Enviro, M&M
In today's trade, shares of Wipro, Angel One, HDB Financial, Clean Max Enviro, M&M among others will be in focus due to various news developments and fourth quarter results.
IHCL remains confident of achieving all its goals: MD and CEO
Indian Hotels Company Limited, IHCL, is successfully managing global and local challenges. The company is expanding its brand portfolio across India and internationally. IHCL is confident in its growth strategy and achieving its Accelerate 2030 targets. Acquisitions are bolstering its Ginger brand. The outlook remains positive despite economic uncertainties.
IHCL's diversification strategy shields growth
IHCL MD and CEO Puneet Chhatwal said escalating West Asia tensions may impact global travel in the near term, but the hospitality sector remains resilient after past crises like Covid-19. He said IHCL’s diversified portfolio across brands, geographies, and business segments is helping it stay on track for long-term growth, with expectations of double-digit revenue expansion driven by new hotel openings and expansion across domestic and international markets.
Hoteliers hope for swift West Asia rebound
The hospitality sector anticipates a strong recovery in the Middle East after the US-Iran ceasefire. Industry leaders expect occupancies in markets like Dubai to bounce back by September. While rates may take longer to reach previous levels, the ceasefire is seen as positive news for tourism and energy markets. Airline flight frequencies will play a key role in the rebound.
Middle East tourism to bounce back after ceasefire, but rates may lag
The hospitality sector anticipates a strong recovery in the Middle East after the US-Iran ceasefire. Industry leaders expect occupancies to bounce back by September. While rates may take longer to reach previous levels, the region is known for its resilience. Tourism stability is crucial, and airlines increasing flight frequencies will aid the rebound.
Gulshan group ties up with Taj for hotel and branded residences in Noida
Gulshan Group is investing Rs 1,000 crore to build a luxury Taj Hotel and branded serviced apartments in Noida. The development will feature 150 hotel rooms and 74 ultra-luxury serviced apartments. This project aims to enhance Noida's luxury offerings. The hotel will include premium dining and an 8,000 sq. ft. ballroom. Serviced apartments will be priced between Rs 35-40 crore.
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Gulshan Group to invest Rs 1000 crore to build Taj-branded hotel, residences in Noida
Gulshan Group will invest Rs 1,000 crore to develop a Taj-branded hotel and residences in Noida. The project will feature a 150-key luxury hotel and 74 apartments. Construction has begun and completion is expected in five years. This development marks the tallest Taj Hotel and the first in Noida.
Maharana Mewar Foundation honours distinguished achievers and young talent at 42nd annual award ceremony
Lakshyaraj Singhji Mewar Announces New National Honour in Memory of Maharana Arvind Singh Mewar
IHCL net jumps over 50% in Q3, new businesses boost revenue
Indian Hotels Company (IHCL) reported a 51% surge in third-quarter net profit to ₹954 crore, driven by a 12% revenue increase to ₹2,842 crore. This marks the fifteenth consecutive quarter of record performance, with Ebitda reaching ₹1,134 crore. The company also expanded its portfolio through strategic acquisitions and partnerships.
IHCL posts Q3 revenue of Rs 2,842 crore, PAT at Rs 954 crore
Tata Group-backed IHCL reported strong Q3 growth with higher revenue and net profit, aided by exceptional gains and robust hotel performance. The company marked its fifteenth straight record quarter, expanded its portfolio to 617 hotels and maintained healthy margins and cash reserves.
IHCL betting on boutique luxury and wellness as asset-light strategy drives margins and growth: Puneet Chhatwal
IHCL CEO Puneet Chhatwal explains the strategic rationale behind the Brij Hotels acquisition, the shift to an asset-light model, expansion into boutique luxury and wellness, margin outlook, capex plans of up to ₹10,000 crore, and how Indian Hotels aims to drive sustainable growth, higher ROCE and strong cash flows over the next five years.
Mid-scale segment becoming more and more important for IHCL and Ginger leading the charge: Puneet Chhatwal
Indian Hotels Company Limited is prioritizing the midscale segment, led by Ginger, aiming for over 250 hotels. IHCL plans significant capital expenditure in the coming years. Qmin's success complements Ginger, while Amã Stays shows growth. Acquisition strategies focus on scaling up and rebranding opportunities. The hospitality sector is expected to grow, with demand outpacing supply.
IHCL Targets North East for Development of New Properties
Tata Group hospitality firm Indian Hotels Company (IHCL) is putting the spotlight on the North East for new properties in line with India's ambition of developing the region, according to its Managing Director and CEO Puneet Chhatwal.
IHCL guidance has been around 35% and we will achieve that for the year despite big disruptions: Puneet Chhatwal
IHCL's MD & CEO, Puneet Chhatwal, emphasizes the Taj brand's strength, driving significant RevPAR premiums. Despite operational challenges, strategic asset management and renovations fuel growth. The company anticipates robust new business expansion with high margins, projecting substantial hotel openings and maintaining a focus on both domestic and international markets for continued double-digit revenue growth.
Boom time for hospitality sector? India Hotels eyeing nearly 40% growth: Puneet Chhatwal
Puneet Chhatwal, MD & CEO of Indian Hotels, discusses the anticipated growth in the Indian hospitality sector driven by the expanding middle class. He highlights Indian Hotels' strategic growth through brands like Ama, Qmin, and Ginger, emphasizing their capital-light model and optimistic growth projections of 30-40%. Government initiatives and infrastructure developments are expected to further boost the sector.
Puneet Chhatwal on the next big thing for hotel sector; why IHCL is a global benchmark in value creation
Puneet Chhatwal, MD & CEO of Indian Hotels, highlights the company's robust growth, primarily within India. He emphasizes the hospitality sector's potential, driven by new demand generators like convention centers and a shift towards asset-light models. Chhatwal anticipates continued success, focusing on brand expansion and capturing emerging opportunities in MICE tourism.
IHCL MD and CEO Puneet Chhatwal re-elected as chairman of FAITH
Puneet Chhatwal, MD and CEO of IHCL, has been re-elected as chairman of FAITH for the 2024-2026 term. Ajeet Bajaj and Ajay Prakash will serve as vice chairmen, Rajiv Mehra as general secretary, and Kanwarjit Singh Sawhney as treasurer. The elected officials pledged to work together to boost the Indian tourism and hospitality sector and contribute to the nation's economy.
Is IHCL plan to double the number of hotels & revenue in next 5 years a conservative target? Puneet Chhatwal explains the math
Indian Hotels Company Ltd (IHCL) plans to double its revenue to Rs 15,000 crore over the next five years. The company will expand its portfolio to over 700 hotels. IHCL aims to achieve this growth through a combination of traditional businesses and new ventures. The company's strategy focuses on capital-light growth, with a significant portion coming from management fees.
Q2 profit up 226% YoY but traditionally H2 is much stronger; IHCL should do better than last year: Puneet Chhatwal
Tata-backed Indian Hotels Company (IHCL) reported a profit surge of 226% year-on-year, reaching Rs 583 crore in the second quarter. MD & CEO, Puneet Chhatwal, attributes the success to India's economic growth and the company's strategic expansion. Despite slowdowns in other sectors, IHCL benefited from a strong domestic travel demand and a resurgence in international tourism.
Indian Hotels always delivers a bit more than promised; that's the story of last 5-6 years: Puneet Chhatwal
Puneet Chhatwal, MD & CEO of IHCL, discusses the company's balanced approach since 2017-2018. With strategies like Aspiration 2022 and Ahvaan 2025, IHCL has diversified its portfolio, doubling in size over six years. The company now opens more than one hotel a month, with a significant focus on capital-light models.
Expect innovation and 35% plus growth for new businesses: Puneet Chhatwal, India Hotels
Puneet Chhatwal, MD & CEO of IHCL, discusses the expected long-term growth in India's hospitality sector. He highlights the increasing demand for talent and business travel, and IHCL's strategy of launching and re-imagining properties. Chhatwal anticipates significant contributions to the economy, with double-digit growth fueled by innovative initiatives and strong market demand.
Will 35% margin be the new normal for Indian Hotels in foreseeable future? Puneet Chhatwal answers
Puneet Chhatwal, MD & CEO of IHCL, discusses the projected increase in management fee income, expecting it to reach Rs 550 crore by 2025-26. He highlights the high flow-through of management fee business, stating that it is expected to grow at a rate of over 20% per annum. Chhatwal mentions the significant contribution of fee-based business and operating leases to IHCL's overall revenue. He concludes with confidence in the company's financial growth and the potential for further margin expansion.
Federation of Associations in Indian Tourism & Hospitality (FAITH) appoints IHCL MD and CEO Puneet Chhatwal as chairman
"With the support of all the members I will strive to make FAITH, a strong policy advocacy body on issues related to tourism and hospitality industry and carry forward the legacy built by Mr Anand," said Chhatwal.
Puneet Chhatwal & Sanjeev Kapoor on their Jai & Veeru frienship, Indian Hotels & more
Puneet Chhatwal says: “We are very pleased because we have a very strong not-like-for-like growth. We are opening two hotels a month and with the right balance of hardly anything which is owned and whatever is owned is in key locations and the rest is fee-based, asset-light model, as people call it or management contracts and also in various other brands.”
IHCL plans 'Ahvaan 2025' to map three-pronged growth strategy
Chief executive and managing director Puneet Chhatwal said IHCL signed over 100 hotels and opened over 40 new properties over the last five years, making it the "fastest growing" hospitality company in India. Chhatwal said IHCL's "iconic and strongest brand Taj, Paathya an industry leading ESG+ framework, and a strong focus on digital will be key enablers."
Tourism sector will thrive again in post-vaccine era: IHCL CEO
"Future of travel and tourism is definitely bright. It is an industry which is going to thrive, the question is how do we build the bridge between now and the next 18 to 24 months, which is the post-vaccine era," Indian Hotels Company MD and CEO Puneet Chhatwal saidsaid.
IHCL resilient to disruptive challenges: MD & CEO Puneet Chhatwal
"With a 116-year legacy honed by Tata values, our ability to consistently deliver industry-leading growth while maintaining profitability and balance sheet strength, combined with our business sense and thrift, makes us resilient to disruptive challenges," IHCL MD and CEO Puneet Chhatwal said in the company's Annual Report for 2019-20.
Indian Hotels' Puneet Chhatwal flaunts his German during President Frank-Walter Steinmeier's India visit
The IHCL CEO couldn’t have asked for a better opportunity to brush up his German-speaking skills.
Puneet Chhatwal joins Indian Hotels Co as MD & CEO
On August 29 this year, IHCL had said in a regulatory filing that its board approved the appointment of Chhatwal as the MD and CEO of the company.
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