Revenues benefited from a steady growth in occupancy. The companys strategy of remaining asset-light by operating hotels through management contracts limits its depreciation and other costs, thereby boosting profits.
EIH has around 1,067 rooms under management contract and plans another 775 rooms through its associate Trident hotels in Bangalore, Hyderabad, Manesar and Gurgaon (NCR), taking the room base to 1,842 and adding 35% to revenues by FY10E.
The decision to terminate its alliance with Hilton International for Trident brand properties and develop them independently has not accrued any negatives to EIH. Its Mumbai and Gurgaon properties enjoy a steady influx of business and are already emerging as market leaders. The ongoing plan of an additional 437 rooms in Mumbai Trident properties will boost earnings from FY10.
More : sify.com
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