New Delhi: Tata group's hospitality arm Indian Hotels Company Ltd (IHCL) on Saturday announced a comprehensive five-year business strategy to improve its EBIDTA margins by 8%.
The company, which operates the Taj Group of hotels, plans to restructure assets for "balance sheet optimisation" and simplify its holding structure for greater profitability under the plan, IHCL said in a statement. IHCL also plans to enhance guest experience, strengthen market leadership and achieve transformative growth.
"Our strategy is three pronged: Restructure, Reengineer and Reimagine our portfolio to achieve 8% point EBIDTA margin improvement," IHCL MD and CEO Puneet Chhatwal said. "This will be driven by a deep commitment to service excellence as well as implementation of revenue and profit-driving initiatives," he added.
Build on legacy of IHCL The plan aims to build on the century-old legacy of IHCL and further strengthen its position by operating best in class portfolio of brands in India and select overseas destinations, it added.
HC quashes defamation case against media house; says publisher not expected to check truthfulness of FIR for news
"Key tenets of the plan include unlocking value from efficiencies in scale and simplifying the holding structure for greater profitability," IHCL said. IHCLadded that it also includes "implementing an aggressive development pipeline and restructuring assets for balance sheet optimisation."
IHCL, along with its subsidiaries, operates 144 hotels globally across 4 continents, 11 countries and 72 locations.