By Samachar Digital News
Chandigarh 01st
May:- The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company reported its consolidated and
standalone financials for the 4th quarter ending March 31st 2019
and year ending March 31st 2019.
For the year ending March 31st 2019,
the Board of Directors have recommended an equity dividend of 50% amounting to
Rs. 0.50 per share. This is an increase over the previous dividend pay-outs of
40% and 35% in 2017/18 and 2016/17 respectively.
Commenting
on the fiscal performance, Puneet Chhatwal, MD and CEO, IHCL said
that IHCL is on track in the execution of
its strategy, Aspiration 2022. Our reimagined brands cape gave us the
opportunity to sign 22 hotels with an inventory of over 3200 rooms across
brands in India and key international markets like London, Makkah, Kathmandu
and Dubai. We opened five hotels in this fiscal and are well poised to open one
hotel per month in light of a healthy pipeline and confirmed momentum of
signing new contracts.
Strong fundamentals helped drive
higher returns through strategic initiatives for margin expansion and asset
management. The company is committed to achieving its long term goals as
outlined in Aspiration 2022, whilst delivering world class experiences to its
guests.
Giridhar
Sanjeevi, EVP & CFO, IHCL stated that our customer-centric approach combined
with an eye on profitability resulted in the EBITDA margins growing by 229 bps
for the year. We continued to enhance our value proposition through the renewed
brands, customer experiences and offerings, whilst deleveraging our balance
sheet.
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