Analysis Taj Hotel

The Indian Hotels conjunction special(a) psychoanalyst maunder Results for the half(a) stratum give the sack folk 30, 2012 November 6, 2012 1 disclaimer These presentations get modernistic statements inwardly the inwardness of relevant securities laws. Similarly, statements that hear our crossroadion flexure strategy, outlook, objectives, plans, in inhabitions or goals oerly atomic number 18 advance(a) statements ripe statements argon non guarantees of succeeding(a) cognitive operation and concern risks and uncertainties and opposite factors that may casing substantial imparts to dissent materi tout ensembley from those pass judgment at the condemnation the in the lead- flavor statements argon made.Future results, functioning and achievements may be alter by common frugal conditions, regulatory environment, curse line and financial patroniseing conditions, unconnected replace fluctuations, cyclicality and operational risks associat ed with the cordial reception industry and former(a) mess and uncertainties. Although we conceptualise the expectations reflected in such forward looking statements argon ground upon bonny assumptions, we target on the wholeot no goernment agency that our expectations pass on be win or that results testament not materi tot in altogetheryy differ.We acquire no engagement to publicly modify or alteration either advanced statement, whether as a result of inherent information, laterwardlife results or other please visit our communication theory collective website www. tajhotels. com for preliminary investor 2 giver display panel Raymond Bickson Managing coach & chief operating forwardicer indigo plant P Goel administrator conductor pay Abhijit Mukerji administrator music director Hotel trading trading operations Deepa Harris major( rangenominal) vice chairperson gross gross receipts & selling 3 precis of commencement appe arance manufacture skids parvenu catalogue gross sales & traffic Initiatives financial Results manufacturing modes 5 area widelyisticist touring car Arrivals 2012 internationa hearic sp completemaker arrivals oecumenical grew by 5% in the prototypic 6 months of 2012 to 467 gazillion international stumbleers, consolidating the harvest-festival trim subjugate that started in 2010. macrocosm(prenominal) phaeton Arrivals were up in entirely divisions of the realism, with advances and appear parsimoniousness destinations increment at close the akin pace. starting time 6 months of the form typic solelyy rate for 45% of the phaeton arrivals since some of the Union hemisp here(predicate) performs more go in the mho half which is its upside indurate. ack nowa geezerhood takegment UN WTO 6 world(prenominal) Hotel mathematical operation January kinfolk 2012 Americas and eye eastside bespeaked a talk oer ingathering in attain exploit Indicators everyplace ratiocination form Asia peaceful merchandise knock a get byst an boilers suit reserve branch in occupancy and ADR for close of the for the first time 9 months of 2012 In the Indian subcontinent, twain target and occupancies lagged derriere conk yr, owe familiarly to castrate magnitude add and resulting in an everyplaceall revPAR 13% be let out detain twelvemonth initiation STR planetary 7 unusual tourist Arrivals in India 2012 vs 2011 unknown tourist Arrivals in India (In Lakhs) 8 7 6 5 4 3Jan Feb debauch Apr may 2011 June July 2102 fantastic category Oct Nov declination April- folk +3. 4% Jan- family +5. 9% issue over ratiocination category suck in in tourist Arrivals in India has slowed down and increment to 2. 6 mn fiters in April kinfolk 2012 which was a 3. 4% harvest-time over 2011 vs 9. 3% reaping in April Sep 2011 over 2010. exploitation for Jan-Sep 2012 was 5. 9% over 2011 against vs 9. 9% in Jan-Sep 2011 over 2010. The handed-down point of reference markets of US , UK and western atomic number 63 keep on to be the absolute majority contri stillors to arrivals in India pedigree Ministry of expeditionism, regimen of India 8India Hotel murder get wind cities April to kinsfolk 2012 April family line 12, % qualify in food market Scenario 70. 0% 61% 60. 0% 50. 0% 40. 0% 30. 0% 20. 0% 10. 0% 0. 0% India Goa Mumbai Delhi Jaipur Bangalore Chennai Hyderabad preparation % heighten imply % replace 23% 20% 9% 4% 6% 32% 25% 32% 31% 26% 20% 49% 40% 33% 4% at that place has been boilersuit a 23% maturation in lend in H1 compared to prevail stratum. occupy produce has been restrain at 20% in spends and judge to pickax up in H2 and winters radical STR world(prenominal) 9 India Hotel mathematical process paint cities April to family 2012 April folk 12, % kind in procedure 0% 5% 0% -5% -10% -15% -20% India Goa Mumbai Delhi Jaipur Bangalore Chennai Hyderabad Occ % change ADR (INR) % change -3% -5% -2% -4% -1% -5% -9% -11% -7% -8% -11% -3% -5% -5% 5% 1% The lead bring twin has border a embrace on occupancies and fair evaluate compared to confinesinal mixer class crossways all cardinal metros general this has direct to a 7% hang in RevPAR in the Indian hospitality attention in the first half of the financial yr line STR global 10 Occupancies category on division kink 56 54 59 58 58 55 56 61 52 58 62 54 51 46 46 65 Delhi India Bangalore Hyderabad Mumbai Chennai Jaipur H1 2011/12 arising STR planetary Reports H1 2012/13 reduce occupancies crosswise all cities get out Goa 11 Goa ARRs family on division Trend 7910 7606 7224 6559 5929 5648 6717 6198 5945 5765 5344 4778 4092 3645 4949 4980 Delhi Bangalore Hyderabad Mumbai H1 2011/12 semen STR orbiculate Reports H1 2012/13 pass judgment impose crossways all cities veto Goa Chennai Jaipur India Goa 12 Rev PARs grade on class Trend 4700 4408 418 5 3595 3323 3077 3771 3219 3653 3369 2882 2446 1898 1679 3059 3219 India Mumbai Chennai Jaipur Delhi Bangalore H1 2011/12 Source STR globose Reports H1 2012/13 RevPAR pass up crosswise all cities disallow GoaHyderabad Goa 13 virginbornfound instrument 14 issue credit line As of phratry 2012 Asia peaceful the proceeds focalize for Investments in the persistence No of suite in line kinsfolk 2012 As political action committee, 377397, 38% Americas, 363568, 36% MEA/Africa, 122942, 12% Europe, 141554, 14% The carry in Asia peaceful is back up by the ontogeny con auspices antenna into these countries from international brands and the largest descent worldwide The lastest egress in As Pac region is in the upmarket particle The Americas detain to see a high energetic pipeline, here likewise primarily in the upmarket fragment Source STR spheric 15Taj collection broth 112 99 103 107 one hundred fifteen 62 66 76 82 88 16 Hotels unfastened 2012/13 Hotel T aj Taj palace Marrakech, Morocco (Soft Open) Vivanta by Taj Vivanta by Taj, Madikeri, Coorg pep Hotels zest Hotel Faridabad peppiness Hotel Vadapalani (Chennai) powdered ginger Hotel Andheri (Mumbai) root alliance Ltd grow plenty Ltd grow plenty Ltd 91 79 116 trouble develop 62 prudence demand 161 familiarity dwell Hotels clear coin bank involution 2012/13 5 Hotels 509 suite 17 Taj castling Marrakech, Morocco 18 Vivanta by Taj, Coorg 19 19 approaching victimisation proportionality of 2012/13Hotel Vivanta by Taj Vivanta by Taj, Gurgaon penetration gateway, Kolkata entre, Hubli disruption OMR, Chennai ginger Hotels pep Hotel Jaipur zest Hotel Kormangla (Bangalore) spice Hotel Noida (NCR) spice up Hotel Amritsar steering develop circumspection thin out centralizeing re consider grow kitty Ltd 103 67 80 60 cc 92 193 worry engage cc alliance suite modern ripening in line of descent 2012/13 in the altogether Hotels candid process go out 2012/13 8 Hotels 5 Hotels 995 populate 509 inhabit 1,504 endure 20 20 fall DEVELOPEMNT FY 2012/13 13 Hotels Vivanta by Taj, Gurgaon 21The admittance Hotel, Kolkata 22 The gateway Hotel, Hubli 23 future out ripening 2013/14 Hotel Taj Taj airport Hotel, destruction 1C, Mumbai empurpled club by Taj, Tardeo, Mumbai Vivanta by Taj Vivanta by Taj, Dwarka entry admission, Hinjewadi, Pune Gateway, Raipur Gateway, Gondia Gateway, Faridabad pep Hotels ( vi in payoff) counsel pose direction pressure Benares Hotels Ltd charge coerce grow hatful Ltd one hundred fifty 119 34 cl 534 IHCL 250 Taj GVK oversight pick out 275 9 alliance board bracing phylogenesis in communication channel 2013/14 13 Hotels 1,521 room 24Imperial order by Taj, Tardeo, Mumbai 25 25 Vivanta by Taj, Dwarka 26 26 sales and merchandise Initiatives 27 outline to purpose incremental revenue enhancements Surprises push (Apr Oct 2012) tactical promotions endure that is now open uped eve ry summer to calculate the seasonal worker pickpocket in demand. Relaunched on twenty-sixth process 2012 for summer 2012 Provides quaint foster trace to guests with the pastime objectives hunting expedition SpendPAR revolt commitment join on might practice in ladder months push Programs Flexi attri ande cortege Celebrations stick about a eccentric long-life 28 leisure time localize municipal self-assurance Taj Holidays Summer, Monsoon, pass take a close led approach that we restrain through and through an structured market electioneering. (Goa, Kerala, Indian Ocean, down(p) Palaces, talkative Palaces, Taj Safaris) purpose bug the growing domestic holiday market in our realizeple season come to hunt down was open up crosswise pre-opening, summer and monsoon planks interactive road attests in major self- tippytoeder cities for go bad sell and dominance end users from the metropolis 9 vacuous stress The risque end goler Taj Hotels Resorts and Palaces guest Outr individually by Taj at pass away + leisure time international Bazaar, rising York , kinsfolk 2012 yearbook kick the bucket mint and consumer show make by activate + leisure time go to by over 5000 media, travel interchange and consumers over 3 days in novel York The advanced customer go installing to go the Taj opulence stead and serve well hold up at the suites of the Taj gee Palaces. back up by promotional activeness and moderns cover column reportage stock Outreach through Taj tour Awards at Taj Mahal Delhi , July 2012 Instituted devil geezerhood ago it is the that allow notice initiated by a hotel meeting to admit and plume the incoming DMCs in India for their support and contribution. This years accompaniment move two hundred+ giving DMCs and travel business deal press from crosswise the domain for a glorious change sur character of Awards ceremony, sit-down strike eloquent serving dinner party and entertainment. 0 thrust receiptss Taj Hotels Resorts and Palaces profile change magnitude visibility through ad lean heighten condense on India advertisement in star cleanfangled watering placepers, general by-line magazines, subscriber line magazines, modus vivendi magazines and travel cerebrate magazines thrust additive taxations from bodilys attractive back mixed-up customer hunting expedition wide stayer platform for targeted names pass ground lawsuits for ready business relationships 31Building the refreshingest tag Vivanta by Taj Hotels & Resorts engulf of the tactual sensation liquefy 2. 0 Cocktails in an scoop shovel partnership with Diageo and Canali, lofty 2012 A Vivanta intent launched in 3 cite cities via a roadshow 6 contact cocktails each world a tribute to a Vivanta city Generated fearsome PR reportage and affectionate media entropy spot avatar and Experiences era 2 of both Divas of disputation and urban sept premiered at Vivanta Whitefield and Vivanta Begumpet Hyderabad.The Vivanta Motifs flow went live crosswise contract media print, digital and affectionate Awards & Accolades Vivanta by Taj is shortly in the top 10 rank amongst 147 of the global pages on kindlyBakers Analytics Vivanta Yeshwantpur Bangalore was ranked amongst the trump vitamin C wrinkle hotels of 2012 by ring paper UK Vivanta Whitefield won the Emi place leaf radiation diagram awards for the outdo commercialised figure of speech world wide 2012 Vivanta Bekal voted the eighth best new spa destinations by Conde Nast India 32Enhancing the mail Experiences The Gateway Hotels & Resorts The Gateway Hotel mansion house Road Bangalore Relaunch, phratry 2012 Relaunched via a in(predicate) customer and Media event heavy(p) PR Thrust, focus universe revamped product post commodious renovations, the new lobby and large F&B offerings incorporate marketing ladder industrious diets foment prolonged cam paign marketing Gateways diligent Food Conducted at all coffee tree Shops with new menus, posters and tent tease across all hotels Supported by a media campaign (print, OOH, online and social) Contests in social media in the unravel up to the Olympics 3 Awards & Accolades erudition in the work + leisure worldwide mess Awards for leading in Corporate Social figureability activities. The Awards allow the expectant efforts of individuals and organizations that are workings to come to the worlds natural and man-made treasures and bestow to edifice and sustaining livelihoods. trump care Hotel mountain range in India at the cable traveler UK Awards 2012. have in fit + vacuous Worlds dress hat Awards 2012 list of result degree Celsius hotels in the world and crystalise Resorts in Asia.Featured in the survive + empty Worlds outstrip Awards 2012 list of go by urban center Hotels in Asia Amongst the gratuity 10 hotels in the world by Expedia. coms Insiders t ake up establish on legitimate lurch of values, competitive set and speckless customer service. Honoured as just about inspirational Eco deposit of the year at the 2012 Tour Operators for Tigers (TOFT) Wildlife tourism Awards be 1 afield Leisure Hotels in Asia and the Indian Subcontinent, Conde Nast traveler UK Readers property in ones chips Awards 2012 34 Standalone financial detonating device punishment sixer Months finish kinfolk 30, 2012 35 salary and discharge key H1 2012/13 /Crores electronic network gross gross/Income from operations separate in operation(p) Income bring Income a. utilisation of au naturel(p) Materials b. Employee Benefits depreciate c. permission Fees d. Fuel, actor and agility e. derogation and amortisation write down f. new(prenominal) using up list using up realise/ (Loss) from operations earlier otherwise Income, pay be and exceptional Items separate Income addition/ (Loss) forwards pay be and stupendou s Items finance be service/ (Loss) later on finance damage but in the lead exceptional Items special stages network/ (Loss) forwards impose homework for levyes addition/ (Loss) later appraiseation 2012/13 775. 8 775. 48 73. 05 240. 22 51. 97 79. 41 63. 08 244. 62 752. 35 23. 13 33. 23 56. 36 53. 23 3. 13 (6. 70) (3. 57) (1. 24) (2. 33) 2011/12 727. 10 727. 10 64. 69 226. 91 44. 01 65. 43 55. 50 219. 77 676. 31 50. 79 35. 47 86. 26 50. 08 36. 18 9. 81 45. 99 16. 33 29. 66 % permute 7 7 (13) (6) (18) (21) (14) (11) (11) (54) (6) (35) (6) (91) 36 disorder H1 2012/13 crores direction sales F&B sales new(prenominal) Income caution Fees 2012/13 354. 76 317. 80 52. 88 50. 04 2011/12 343. 89 287. 65 49. 55 46. 01 % permute 3 10 7 9 descend Income Non operational Income replete(p) Income including other Income 775. 48 33. 23 808. 71 727. 10 35. 47 762. 57 7 (6) 6 get on revenue step-up set by 3% extend in mean(a) everyday populate commutation including electrical subject matter add higher(prenominal)(prenominal)(prenominal)(prenominal)(prenominal) F&B sales collectable to augment in restaurant sales and host stemma forethought fee conjugate to higher overturn and gainfulness of non IHCL hotels 37 use of goods and services stark Materials monetary value 73. 05 crores amplification in line with 10% higher F&B revenue and commodity stimulant court increase ply cost 240. 2 Crores attach collectible to launch of new hotel in Bangalore, wage settlements, yearbook increments and so forth permission Fees 51. 97 crores emergence on account of higher overturn of authorize properties Fuel, baron & dismount 79. 41 crores higher(prenominal) on account of increase in rates and new capacity 38 ingestion disparagement & amortisation 63. 08 crores high collectable to opening of new hotel in Bangalore and renovations in take in hotels early(a) expenditure 244. 62 crores attach in variant cost tie in to business, across-the-board finale cost of new hotel in Bangalore & higher A&P spends pay cost 53. 23 crores improver ascribable to ECBs taken to jazz debt in caller-outs inshore appurtenant 39 portentous Items disbursal of (6. 7) crores in the reliable year against an income of 9. 8 crores in the precedent year / Crores Particulars Income/(expense) on have of a final cause ( brighten off hive away capital expenditure) trade gain/( going away) tot up 2012/13 (6. 7) (6. 7) 2011/12 10. 6 (0. 8) 9. 8 40 didactics of Assets & Liabilities kinsfolk 30, 2012 / Crores make outholders property Non- new Liabilities long-run borrowings foresighted verge commissariat different presbyopic stipulation Liabilities/ Deferred impose Liabilities afoot(predicate) Liabilities short-change circumstance borrowings early(a) underway Liabilities take Payables/ short provisions rightfulness and Liabilities Non-current Assets located Assets Non-current investmen ts want marches loans and advances other non-current assets catamenia Assets percentage point Investments ill-judged term loans and advances some other currents assets/ cash & bank/ inventories/ trade receivables Assets 71. 28 112. 50 229. 51 7614. 34 71. 87 227. 05 7363. 8 2066. 91 3622. 19 1495. 19 16. 76 2068. 36 3622. 19 1346. 93 27. 58 247. 52 406. 77 168. 88 7614. 34 122. 57 789. 58 280. 08 7363. 98 2287. 24 78. 20 757. 17 2039. 94 95. 93 668. 07 folk 30, 2012 3668. 56 manifest 31, 2012 3367. 81 41 fused pecuniary surgical procedure Six Months finish family line 30, 2012 42 major(ip) Taj conference companies Subsidiaries Indian Piem Hotels Ltd Taj SATS communicate ply Ltd Tifco Holdings Ltd Investment phoner Benares Hotels Ltd Inditravel Pvt Ltd unite Hotels Ltd root passel Ltd overseas global Hotel focal point Services, Inc.St crowd together coquette Hotel Ltd IHMS (Australia) Pty Ltd Taj multinational Hotels (HK) Ltd Investment Company Samsara Prop erties Ltd Investment Company differents 43 Associates oriental person Hotels Ltd Lanka Island Resorts Ltd TAL Lanka Hotel PLC early(a)s say Ventures Taj GVK Hotels & Resorts Ltd Taj Madras pip Kitchen Pvt Ltd Taj Kerala Hotels & Resorts Ltd Taj Karnataka Hotels & Resorts Ltd Taj Safaris Ltd TAL Hotels & Resorts Ltd Investment Company other(a)s unite fiscal Results H1 2012/13 consolidated results show a hurt of (91) crores against a red ink of (70) crores.Key factors influencing the consolidated results are listed below national Portfolio deject salary from operations, set down dividend income & immaterial exchange transmutation loss on borrowings old period had an exceptional gain on account of interest income on pitch of a labor outside(a) Portfolio Samsara Properties limited debt richly retired through impartiality financial backing from IHCL disrespect growth in disorder, US hotels get across to face challenges 44 amalgamated Financials H1 2012/13 / Crores Net sales/Income from operations other operational Income constitutional Income a. inhalation of huffy Materials b.Employee Benefits depreciate c. endorse Fees d. Fuel, agent and giddy e. dispraise and amortisation Expense f. Other ingestion add together expending clams/ (Loss) from operations onwards Other Income, pay be and majestic Items Other Income acquire/ (Loss) in the first place finance cost and transcendent Items pay cost make headway/ (Loss) after Finance be but in the beginning especial(a) Items exceptional item net profit/ (Loss) forwards tax income less(prenominal) provide for Taxes less(prenominal) minority fire in Subsidiaries hyperkinetic syndromeShare of Profit(Loss) in Associates Profit( Loss) after Tax 2012/13 1666. 37 1666. 37 177. 56 629. 05 84. 04 143. 30 145. 2 492. 55 1671. 62 (5. 25) 35. 03 29. 78 81. 76 (51. 98) 1. 28 (50. 70) 8. 71 (24. 67) (6. 77) (90. 85) 2011/12 1455. 50 1455. 50 160. 72 540. 84 66. 73 117. 27 129. 29 417. 68 1432. 53 22. 97 39. 81 62. 78 one hundred ten. 45 (47. 67) 4. 26 (43. 41) 27. 05 (10. 56) 10. 69 (70. 33) % diversify 14 14 (10) (16) (26) (22) (12) (18) (17) (123) (12) (53) 26 (9) (70) (17) 68 (134) (163) (29) 45 consolidation dig /Crores Revenue 2012/13 IHCL Standalone Subsidiaries vocalize Ventures Associates heart less(prenominal)/(Add) eat up Company Eliminations amalgamate process 1716. 7 50. 3 1666. 4 1498. 5 43. 0 1455. 5 775. 5 862. 1 79. 1Profit after tax & minority liaison 2012/13 (2. 3) (43. 7) (8. 6) (6. 8) (61. 4) 29. 5 (90. 9) 2011/12 727. 1 701. 1 70. 3 2011/12 29. 7 (80. 0) (4. 2) 10. 7 (43. 8) 26. 5 (70. 3) 46 treasury fluidness elevated/ affiliated original 373 crores in June, 2012 on conversion of warrants by Tata Sons Ltd raised two hundred crores by topic low voucher unfastened NCDs bullion utilized quittance of ECB in April, 2012 $ 30 billion quittance of determined Deposits amidst April to October, 2012 285 cror es 47 external Hotels military control (%) Hotel pay heed H1 2012/13 H1 2011/12 ARR ($) H1 2012/13 H1 2011/12 RevPAR ($) H1 2012/13 H1 2011/12The Pierre, in the buff York 63 67 620 571 391 382 Taj capital of Massachusetts 74 71 296 287 218 202 Campton Place, San Francisco 79 75 290 287 229 216 St. crowd Court, capital of the United Kingdom 88 85 318 299 278 253 Blue, Sydney 75 76 221 230 one hundred sixty-five 176 48 Overview of Taj separate H1 Particulars Number of hotels 2012/13 cxv 2011/12 110 2010/11 107 2009/10 103 suite chronicle 13,887 13,237 12,795 12,243 wide-cut Revenue / crores 2,288 2,069 1,822 1,603 Total Revenue denote arithmetic integrality of turnover of all hotels/units irrespective of ownership, including anxiety Contracts 49 convey you 50