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    500850   INE053A01029

THE INDIAN HOTELS COMPANY LIMITED

(500850)
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IHCL REACHES A MILESTONE OF 50 YEARS OF MANAGING THE ICONIC TAJ LAKE PALACE, UDAIPUR; Shriji Arvind Singh Mewar of Udaipur, Chairman & MD, The Lake Palace Hotels & Motels Pvt. Ltd. and Mr. N. Chandrasekaran, Chairman, Tata Sons in Udaipur.

10/27/2021 | 10:58am EST

MUMBAI: Indian Hotels Company (IHCL) has reached a significant milestone of completing 50 years of managing the iconic Taj Lake Palace, Udaipur. Mr. N. Chandrasekaran, Chairman, Tata Sons graced the occasion and thanked Shriji Arvind Singh Mewar of Udaipur, Chairman and Managing Director, The Lake Palace Hotels & Motels Private Limited, for entrusting IHCL with the care of this architectural marvel and a palace with such illustrious history.

Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said, 'IHCL, since its inception has maintained a steadfast commitment in showcasing India's glorious past with some of the country's most celebrated and authentic palaces that date back to the pre-independence era. We remain grateful to Shriji Arvind Singh Mewar for reposing faith in IHCL for 50 years with the marquee Taj Lake Palace. We further strengthened this partnership with two more properties of HRH Group of Hotels through 2020-2021, Taj Fateh Prakash Palace, Udaipur and the recently signed Gorbandh Palace, Jaisalmer.'

Taj Lake Palace was built by Maharana Jagat Singh II and opened in 1746. A luminous palace in the middle of Lake Pichhola, Taj Lake Palace is one of the most photographed properties in the world. This spectacular palace was also where the much acclaimed James Bond film 'Octopussy' was filmed.

Arvind Singh Mewar, Chairman and Managing Director, The Lake Palace Hotels & Motels Private Limited said, 'Taj Lake Palace is a legendary icon of Udaipur. IHCL restored it sensitively to preserve its timeless elegance and its unique history, while blending it with the conveniences of modern luxury. We are delighted to have this long standing and successful relationship with the custodians of Indian hospitality. My family and I look forward to this continued association and enhancing the region's tremendous tourism potential.'

IHCL is the largest hospitality operator in Udaipur with five hotels including two under development. In line with the Company's commitment to developing the tourism eco-system, it recently introduced skill- building programs in hospitality for the underprivileged youth. These centres are present in Udaipur, Nagaur, and Chirawa in Rajasthan.

About The Lake Palace Hotels & Motels Private Limited

The Lake Palace Hotels & Motels Private Limited is the flagship company of the HRH Group of Hotels, Udaipur. Shriji Arvind Singh Mewar of Udaipur, the 76th Custodian of the 1500-year old House of Mewar in Rajasthan, India, is the Chairman and Managing Director, The Lake Palace Hotels & Motels Private Limited, Udaipur. The HRH Group is India's largest and only chain of heritage palace-hotels and resorts under private ownership. It offers regal experiences on island-palaces, desert safaris and in wildlife sanctuaries. Shiv Niwas Palace, Jagmandir Island Palace in Udaipur, and Gajner Palace, Gajner (near Bikaner) are Heritage Palaces. Shikarbadi Hotel, Udaipur; Garden Hotel, Udaipur; The Aodhi, Kumbhalgarh; Fateh Bagh, Ranakpur; Gorbandh Palace, Jaisalmer; Karni Bhawan Palace in Bikaner are 'Royal Retreats' of the Group.

About The Indian Hotels Company Limited

The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj - the iconic brand for the most discerning travelers and the World's Strongest Hotel Brand as per Brand Finance 2021, SeleQtions, and a named collection of hotels, Vivanta, sophisticated upscale hotels and Ginger, which is revolutionizing the lean luxe segment.

Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 225 hotels including 55 under development globally across 4 continents, 12 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is South Asia's largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.

Please visit: www.ihcltata.com ; www.tajhotels.com ; www.seleqtionshotels.com ; www.vivantahotels.com ; www.gingerhotels.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 31 446 M 419 M 419 M
Net income 2022 -2 591 M -34,5 M -34,5 M
Net Debt 2022 43 298 M 577 M 577 M
P/E ratio 2022 -107x
Yield 2022 0,18%
Capitalization 274 B 3 652 M 3 651 M
EV / Sales 2022 10,1x
EV / Sales 2023 6,93x
Nbr of Employees 15 409
Free-Float 54,1%
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Number of Analysts 9
Last Close Price 207,30 INR
Average target price 225,56 INR
Spread / Average Target 8,81%
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Managers and Directors
Puneet Chhatwal Chief Executive Officer, Director & MD
Giridhar Sanjeevi Chief Financial Officer & Executive Vice President
Natarajan Chandrasekaran Chairman
Vinay Deshpande Senior Vice President & Head-Digital & IT
Uday Narain Chief Operating Officer
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