This Indian mid-cap hotel company undertakes two new hotels in Bangladesh; shares surge
The company is recognized as one of Asia's largest and finest hotel firms. It operates in the luxury, premium, mid-market and value segments of the market.
About the announcement
Two new hotels have been contracted by the Indian Hotels Company (IHCL) in Dhaka, Bangladesh. The Taj and Vivanta branded hotels will be a part of an integrated complex that will also include high-end shopping. These are brand-new construction projects. The first mixed-use project in Dhaka, which includes two hotels, is well situated in Gulshan, a significant business district in the city and just a short drive from Shahjalal International Airport. The 130-room Vivanta and the 230-room Taj hotels will provide the city with a wide variety of new dining alternatives.
Both hotels will have all-day dining options and bars, while the Taj will also have two speciality eateries, a rooftop bar and a deli for quick lunches. Large banqueting rooms and leisure amenities such as a pool, spa, gym, and health club will also be housed there. The Chambers, the upscale business club of the Taj, will open its first location in Dhaka.
Share Price Movement of Indian Hotels Co Ltd
The scrip opened on Wednesday at Rs 330.55 and touched a high and low of Rs 334.75 and Rs 330.40, respectively. Its 52-week high stood at Rs 348.70, whereas its 52-week low was Rs 207.25. The current market cap of the company is Rs 47,036.56 crore. Promoters hold 38.19%, whereas the Institutional and non-institutional holdings are 45.68% and 16.12%, respectively.
Warm Indian hospitality and top-notch service are offered by a variety of brands and companies under the umbrella of the Indian Hotels Company Limited (IHCL) and its subsidiaries. These include Vivanta, chic upmarket hotels, SeleQtions, a named hotel collection, and Ginger, which is revolutionising the lean luxe market.
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