A senior executive of IHCL told that a third party private equity fund Tata Opportunities may exit RCL. IHCL’s Executive Vice President and CFO Giridhar Sanjeevi had said just a few days ago that Tata Opportunities Fund has been our partner for the last 10 years. Now the timing of his exit from the company is being discussed.
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Tata Opportunities Fund bought a 10 per cent stake in the company in 2010. No firm decision has been taken on this issue yet, but according to experts, priority will be given to the fact that before the IPO, RCL will be made 100 percent subsidiary of IHCL.
There are 78 hotels in 50 cities
The IHCL Ginger portfolio consists of 78 hotels located in 50 cities, out of which 24 properties are underdeveloped. Ginger is an entry segment hotel brand. Recently, major efforts have been made to upgrade it. This is not the first time that Ginger’s IPO is being planned. Even before this, there was talk of listing of Ginger in 2012.
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Taj, Vivanta and SeleQtions are also brands of IHCL
It is worth noting that Ginger has been giving losses till now for IHCL. Still, Ginger has the best cupancy rate in the entire group. It should also be mentioned that IHCL has 3 more hotel brands. These include Taj, Vivanta and SeleQtions. RCL has added 33 new properties since 2018. According to this, the company has added more than 1 new property every month.
RCL’s revenue in the financial year ending 2021 is Rs 134.86 crore
According to the data provided by IHCL, the revenue of RCL in the financial year ended March 31, 2021 was Rs 134.86 crore, which was 37 percent less on year-on-year basis. Let us inform that the income of the company in the year ended 31 March 2020 was Rs 212.65 crore. The company had a loss of Rs 49.38 crore in FY 2021, while in FY 2020 the company had a loss of Rs 22.77 crore.
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