Oriental Hotels - On The Road To Recovery: ICICI Direct
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ICICI Direct Report
Oriental Hotels Ltd. operates in south India with Indian Hotels Company Ltd. being one of the promoter entities.
The company owns and operates seven hotels with ~820 rooms across business and leisure locations in south.
It derives majority of revenues from two of its properties in Chennai-
- Taj Coromandel
- Taj – Fisherman’s Cove.
After witnessing Covid-19 induced severe financial strain in H1 FY21, the company achieved operational breakeven performance in H2 FY21 despite a marginal pick-up in revenues.
The same was attained via slew of measures undertaken by the company to become more efficient and linear in terms of costs in the Covid era.
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