Oriental Hotel reported 3.58 crores loss in Q1 FY19, revenue increased over 3%

Mohan | Myequity news | Date: 28-07-2018 20:30:00 IST

Oriental Hotels Limited, reported 3.58 crores of loss in quarter ending June 30, 2018. Revenue for the same quarter increased by 3.12 percent on YOY basis, EBITDA increased by 34 percent.

Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd said, "Our Company has delivered a stronger performance this quarter as against the first quarter of 2017. We will continue to focus on increasing EBITDA margins, in alignment to IHCL's Aspiration 2022. The renovation and enhancements made in our portfolio of hotels will also have a positive impact going forward."

(Rs in crores)

Particulars Quarter ending June 30, 2018 Quarter ending June 30, 2017 % Change
Revenue 81.93 79.39 3.20
EBITDA 8.86 6.60 34.24
PAT (Loss) -3.58 -5.26 -31.94

Key highlights:

Taj Coromandel, Chennai

  • Renovation of 3 floors comprising 76 rooms including all suites, in our endeavour to continuously upgrade our facilities and maintain best in class leadership position.
  • The hotel continues to be the preferred location for Heads of State and Diplomatic delegations which included the German President, Frank-Walter Steinmeier's visit to Chennai and Government delegations from Singapore and United Kingdom.
  • The hotel took the lead to phase out the use of single use plastic for dry amenities in the rooms.

Taj Fisherman's Cove, Chennai

  • The hotel has recently renovated the entire lobby and 48 rooms. 2 new Luxury Sea View suites have been added to the inventory.
  • The hotel has also renovated "Seagull" the All-Day Dining restaurant which offers a panoramic view of the Bay of Bengal, giving it a fresh and vibrant look.

About Oriental Hotels Limited

The company has 9 hotels — Taj Coromandel, Chennai; Taj Fisherman's Cove, Chennai; Taj Malabar Resort & Spa, Cochin; Vivanta Trivandrum; Vivanta Surya, Coimbatore; The Gateway Hotel, Beach Road Vishakhapatnam; The Gateway Hotel, Pasumalai, Madurai; The Gateway Hotel, Old Port Road, Mangalore and The Gateway Hotel, Church Road, Coonoor. Oriental Hotels is an associate company of The Indian Hotels Company Limited (IHCL).

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