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    ITC   INE154A01025

ITC LIMITED

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ITC Limited : WelcomHotel Raviz, Kollam & WelcomHotel Raviz, Kadavu flagged off in Kerala

11/04/2013 | 07:29am EST

WelcomHotel Raviz, Kollam & WelcomHotel Raviz, Kadavu flagged off in Kerala
31 Oct 2013

Dr. Ravi Pillai,  Chairman RP Group & Resorts officially handed over management of the 'WelcomHotel Raviz, Kollam' and 'WelcomHotel Raviz, Kadavu' to ITC Hotels' senior executives in a  ceremony graced by Hon'ble Governor of Kerala, Shri Nikhil Kumar and senior  government officials of the Kerala government, in Kollam.

Earlier  this year, ITC Hotels and RP Group Hotels & Resorts entered into a management agreement wherein  ITC's hotel group will operate 5 Raviz hotels, in India and Dubai. These hotels will be managed under  ITC Hotels' 5-star 'WelcomHotel' brand  and the group's mid-market to upscale 'Fortune' brand.

Embodying the WelcomHotel  brand promise of efficiency and warmth with facilities and services designed to  cater to the needs of the business and leisure traveller, the WelcomHotel Raviz Kollam and the WelcomHotel Raviz Kadavu are committed  to creating new benchmarks in hospitality. ITC's tradition of culinary  excellence will be reflected in the Royal  Afghan and Shanghai Club brands  that will debut at these hotels.

In addition, on the anvil are, Fortune Raviz Calicut and two Fortune Raviz hotels in Dubai. Both  Kerala and Dubai possess immense  tourism potential as significant inbound and outbound destinations, for the  country.

The  tie-up has been firmed up through a Memorandum of Understanding between ITC  Hotels and RP Groups Hotels & Resorts. While the two WelcomHotels are already  under a management contract, the three Fortune hotels are a part of the signed  MOU and will be launched subsequently.

As part of its expansion drive, ITC  Hotels recently added several managed hotels under its WelcomHotel and Fortune brand  portfolio, including 'WelcomHotel  Dwarka, New Delhi' and 'WelcomHotel Bella Vista,  Panchkula-Chandigarh'. Also on the anvil are an ITC super-premium luxury hotel in Mahabalipuram, a WelcomHotel in Jodhpur and Patna and more than 30  hotels under the Fortune brand.
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ę Publicnow 2013
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Financials
Sales 2022 530 B 7 043 M 7 043 M
Net income 2022 151 B 2 008 M 2 008 M
Net cash 2022 256 B 3 408 M 3 408 M
P/E ratio 2022 18,1x
Yield 2022 4,97%
Capitalization 2 732 B 36 299 M 36 304 M
EV / Sales 2022 4,67x
EV / Sales 2023 4,25x
Nbr of Employees 26 071
Free-Float 67,5%
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Sanjiv Puri Chairman & Managing Director
Supratim Dutta Chief Financial Officer
Jagdish Singh Vice President-Finance, IT & Procurement
Soumitra Mukherjee Chief Scientist, Head-Research & Development
V. Kulkarni Chief Operating Officer-PSPD
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