Indian Hotels reports 65% growth in consolidated revenue for FY23

For the fourth quarter, however, revenue from operations declined marginally as compared to the previous quarter of the same year. stood on revenue 1625.4 Crores vs last year’s 1685.8 Crores. But it saw revenue nearly double year-on-year 872.08 crore in the corresponding quarter last year, the company said in its annual filing.

In a statement, the company’s Managing Director and CEO Puneet Chatwal said, “We have achieved several significant milestones, including highest ever consolidated revenue for the full year, highest ever EBITDA margin and profit after tax. Is. 1,000 crore, a first for the company. This performance was enabled by four consecutive quarters of consistently high demand.

The company said it signed 36 hotels in FY22-23 with a consolidated hotel portfolio of 260 hotels. It now has 50% owned and managed hotels. The Taj brand recently signed its 100th hotel. Its Ginger Hotels reported revenue of 307 crore and EBITDA margin of 37.4%.

According to hospitality consultancy Hotelivate, in its latest Trend and Opportunities report that it put out last year, it said that IHCL was the second largest company in the country in terms of room inventory of about 18,000 rooms by July 2022, on the heels of Marriott International. There were about 22,000 rooms. In terms of the top ten hotel brands based on percentage share of existing inventory in India, Marriott tops the list with 14.26% ownership and IHCL follows close behind with 11.57%. The report said that the number of hotels owned by IHCL was high. country compared to competitor Marriott International.