The Indian Hotels Company Limited (IHCL) has reported 6% topline growth and an EBITDA growth of 32% for the first quarter ending 30 June, 2019.
IHCL managing director and chief executive officer Puneet Chhatwal revealed in a statement: "Despite the macro-economic headwinds, we have stayed on track in delivering our promise as outlined in Aspiration 2022. The company reported a topline growth of 6% and an EBITDA growth of 32%."
He said that both the absolute EBITDA of Rs.166 crores (US$23.83m) as well as the EBITDA margin of 15.68% are the highest for Q1 for the last 10 years (on a like-to-like comparison).
Chhatwal added that the company signed hotels with 1,267 rooms, and also opened three hotels in this quarter in markets like Goa and Agra.
During this quarter, IHCL entered a strategic partnership with Singapore’s sovereign wealth fund, GIC, and also launched a new hotel brand - SeleQtions.
IHCL currently has a number of properties in the Middle East - operational and pipeline - with its eye on opening more.