healthy consolidated free cash flow of Rs . 1,017 crore ($ 124.43 million ) in FY2022- 23 and remains net cash positive . demonstrating leadership in RevPAR in all its brands across its key markets helped the stellar performance , Chhatwal added .
IHCL crossed 260 hotels in its portfolio , including 36 signings at a rate of three hotels per month and 16 openings or a new hotel every three weeks during the year . The company hotels present in 31 states and union territories across India .
The new signings include four hotels each under its Taj and SeleQtions brands , three Vivanta and five Ginger branded hotels .
In line with its efforts to restructure its portfolio , the company also managed to achieve an “ optimal 50:50 mix ” between its owned / leased and managed hotels .
TAJ ’ S HOTEL MILESTONE Taj , IHCL ’ s iconic luxury , full-service flagship brand , achieved a landmark of 100 hotels and has more than doubled its room inventory in the past five years . Significant signings under the brand include Taj hotels at Dhaka , Bangladesh ; Riyadh , U . A . E .; two Taj resorts at Lakshadweep , India ; a hotel each in Indian cities of Chennai , Cochin , Bangalore , Raipur and Gandhinagar .
Taj also opened three new hotels in Kolkata , Wayanad and Jaipur , along with an addition to its palace portfolio in Jaipur .
REIMAGINED , NEW BUSINESSES IHCL ’ s midscale brand , Ginger , reported a turnaround in FY2022-23 , led by a 50 % in the lean luxe portfolio . The brand achieved a revenue of Rs . 307 crore ($ 37.56 million ), EBITDA margin of 37.4 % and a PVT of Rs . 48 crore ($ 5.87 million ). ama Stays & Trails , a collection of heritage guest houses , bungalows and villas across India , registered a 42 % growth in portfolio this fiscal and now has 114 bungalows in more than 50 locations .
TajSATS , IHCL ’ s airline catering business , captured a market share of 58 % in FY 2022-23 , with a revenue of Rs . 641 crore ($ 78.2 million ) a 53 % growth over pre-pandemic figures . EBITDA margin stood at 19.7 % and a PBT of Rs . 107 crore ($ 13 million ).
Qmin , IHCL ’ s gourmet culinary and food delivery platform , has now expanded to 34 outlets across 24 cities .
SUSTAINABLE PRACTICES Under the company ’ s ESG framework , IHCL ’ s flagship hotel — Taj Mahal Palace in Mumbai — turned 100 % green , 310 EV charging stations were installed in 129 locations across India , 32.5 % renewable energy and 42 % recycled water was used in operating hotels and 20 hotels were equipped with bottling plants to eliminate the use of single-use plastic bottles . Additionally , 16 skilling centers were opened in India .
ACCOMPLISHMENTS , HIGH DEMAND Puneet Chhatwal , managing director and CEO of IHCL , attributed the record performance to several major accomplishments , including the “ highest ever full year consolidated revenue , an all-time high and industry leading EBITDA margin and PAT of over Rs . 1,000 crore ($ 122 million ) a historic first for the company .”
Four consecutive quarters of sustained high demand , additionally boosted by IHCL
Puneet Chhatwal , managing director and CEO , IHCL
June 2023 hotelsmag . com 29