Jun 11, 1999|
Five-star hotels face excess capacity
The five-star hotel segment in the country is afflicted with excess capacity. Hotels are now competing with each other by offering heavy discounts. Currently, Chennai with a room base of 900 rooms is witnessing discount levels of 25%.
Industry sources claim that unless tourist arrivals pickup considerably, discount levels would go even higher, forcing many companies to comprise on margins. To complicate matters further, there is expected to be an increase of over 500 rooms in this segment. Moreover, three-star hotels have also begun eating into the five-star hotel market share, putting added pressure on profit margins. As margins get thinner it will be a tough fight for these companies to stay in the black.
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Oct 17, 2016
Indian Hotels has reported a 5.6% YoY increase in the consolidated topline and a consolidated loss of Rs 1,695 m for 1QFY17.
Mar 28, 2016
Indian Hotels has reported a 13.2% YoY increase in the consolidated topline and a standalone net profit of Rs 1.2 m for the quarter ended December 2015.
Nov 24, 2015
Indian Hotels has reported a 13.2% YoY increase in the standalone topline and a standalone net profit of Rs 1.2 m for the quarter ended September 2015.
Aug 28, 2015
Indian Hotels has reported a 10.2% YoY increase in the consolidated topline and a consolidated net profit of Rs 348 m for the quarter ended June 2015.
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