Asian Hotels (North) Limited
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BSE Code:
500023
NSE Code:
ASIANHOTNR
Business Profile
Business Profile
Asian Hotels Ltd (AHL) operates a chain of five star deluxe category hotels under the brand Hyatt Regency Hotels. The company has presence in three metros of Delhi, Kolkata and Mumbai. The company incorporated in 1981 has a technical tie-up with the world-renowned Hyatt International Asia Pacific, Hong Kong.
As per the terms of the agreement, AHL pays 3% of gross revenue and 7% of gross operating profits to HIAP towards the various services provided. HIAP is targeted at the up-market business traveller. During 1996-97, the company received the Hyatt International Award of Excellence for the rooms division and food & beverages division. The company also received the award for the best business hotel in the northern region of the country awarded by the department of tourism, Government of India. During the year 2000-01, Asian Hotels Ltd. reduced its stake in Regency Convention Centre & Hotel Ltd. to 48.28 per cent and consequently it has ceased to be a subsidiary of the company.
Financials
Asian Hotels registered a 50.83% growth in net profits to Rs 344.20 million for the quarter ended March, 2007 from Rs 228.20 million for the quarter ended March, 2006.Net sales rose 27.24% to Rs 1,324.10 million for the quarter ended March, 2007 compared with Rs 1,040.60 million for the quarter ended March, 2006.Total income rose 26.74% to Rs 1,329.4 million in the quarter ended March, 2007, from Rs 1,048.9 million for the quarter ended March, 2006.The earnings per share (EPS) of the company stood at Rs 15.08 in the quarter ended March, 2007.
Recent Developments
16-JUN-07
A meeting of the board of directors of Asian Hotels will be held on Jun. 25, 2007 to discuss the proposed restructuring of the company into three independent undertakings, reports Business Line.Restructuring has become inevitable because the promoter groups have acquired independent interests in the hospitality industry. The board is also apprehensive that the restruturing may cause potential conflicts of interest, which could affect the company and shareholders. After the implementation of the proposed restructuring, one unit will own the Delhi property, second unit will control the Kolkata property together with the investments and development options in Bhubaneswar, appropriate cash liquidity, besides Regency Convention Centre and hotels and the third will own the Mumbai undertaking together with investments and developments options in Bangalore.