IHCL to adopt a more aggressive growth path
Indian Hotels Company (IHCL) will be releasing a new 'strategic matrix' in the near future that will be more aggressive than the previous ones and accelerate the pace of growth from a high base, IHCL CEO Puneet Chhatwal told ET.
Looking at the chain's last ten quarters, as well as the immediate visibility into the current and upcoming quarters, Chhatwal said he is 'confident' of the outlook.
«It's notable that Q2 has surpassed Q1, a trend we don't typically see as Q2 usually dips. This has been an exceptional outcome, particularly considering that the previous quarter was impacted by elections held in extreme summer conditions,» he said. «The market guidance for double-digit growth is well within reach-and by double-digit, we aren't talking about 10%, it could well be 12%, 14%, or potentially higher,» he added. IHCL posted a consolidated net profit of ₹583 crore in the September quarter, an over-threefold increase from ₹179 crore a year earlier.
Revenue at the hospitality chain grew 27% to ₹1,826 crore in the three months ended September. IHCL also announced this month that it bought a majority stake in the operating company of Tree of Life Resorts & Hotels. «Our vision for Tree of Life is to establish it as a collection of boutique hotels that are intimate, experience-driven, and high-margin,» he said.
«India has significant untapped potential in this segment, with numerous properties that remain unclassified and unbranded. We see an opportunity to convert over 50 plus properties across India's 36 states and
