The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated and standalone financials for the first quarter ending June 30th, 2022.
Commenting on the Q1 performance Mr. Puneet Chhatwal, Managing Director & CEO, IHCL said, “IHCL has reported its best first quarter in the company’s history. This performance has been boosted by a surge in demand across markets and segments, with occupancy and rates exceeding pre-COVID levels. This has resulted in a milestone EBITDA Margin of 31.3%, which is an improvement of 1140 bps over Q1 FY 2019-20. In line with our vision of Ahvaan 2025, IHCL will continue on its trajectory of delivering responsible profitable growth.”
The company’s long-term growth will also focus significantly on digital enablers such as the super app – Tata Neu. As a founding member of Tata Neu, IHCL has seen a 50% increase in its loyalty members since the launch of the app.
Giridhar Sanjeevi, Executive Vice President and Chief Financial Officer, IHCL said, “The revenue performance in the quarter has been encouraging as it is broad based across key markets and brands. This combined with continued cost monitoring measures has led to margin expansion across all IHCL group companies. IHCL Consolidated has thereby reported a strong free cash flow of Rs.198 crores for the quarter and continues to be net cash positive.”