Mumbai attacks takes toll on Indian Hotels results
By Our Hospitailty Bureau
May 27, 2010
Indian
Hotels Company (IHC), the Tata group arm that owns Taj hotels, has
registered a consolidated net loss of Rs137-crore in 2009-10
compared to a net profit of Rs12-crore a year ago. Net sales,
during the period, dropped 6 per cent to Rs2,457-crore.
Company sources say the drop in income is due to the partial
closure of the Taj Mahal hotel in Mumbai, the Pierre in New York
and the Vivanta Coral Reef in Maldives for renovation.
On a standalone basis, IHC has recorded a 34 per cent decrease in
net profit at Rs153-crore as total income declined by 9 per cent to
Rs1,473-crore.