Asian Hotels (ASIANHOTEL) operates a chain of five star deluxe category hotels under the brand Hyatt Regency Hotels. The company has presence in three metros of Delhi, Kolkata and Mumbai. The company incorporated in 1981 has a technical tie-up with the world-renowned Hyatt International Asia Pacific, Hong Kong. The managing directors of the company are Umesh Saraf, Sushil Gupta, and Shiv Jatia for East, West and North activities.
The hotels target the up-market business traveler. In 1996-1997, the company received the Hyatt International Award of Excellence for the rooms division and food & beverages division. The company also received the award for the best business hotel in the northern region of the country awarded by the department of tourism, Government of India. During the year 2000-2001, Asian Hotels reduced its stake in Regency Convention Centre & Hotel. to 48.28% and consequently it has ceased to be a subsidiary of the company. The company is restructuring activities into three independent units.
One unit will own the Delhi undertaking with about 508 rooms and suites, together with an operating lease for BCCI lounge in Kolkata; the second would be the Kolkata undertaking with 235 rooms and suites, together with the investments and development options of Bhubaneshwar and Regency Convention Centre and Hotels, and cash liquidity of about Rs 4,620 million; and the third would be the Mumbai undertaking comprising of 401 rooms and suites, together with its investments and development options in Bangalore. Two new companies Vardhman Hotels and Chillwinds Hotels would be formed after the scheme of arrangement and demerger of the company.
The registered office is at Bhikaiji Cama Place, M.G. Marg, New Delhi-110066.
Financials
The company reported fall of 55.75% in standalone net profit on a y-o-y basis to Rs 71.60 million, while total income fell 44.75% y-o-y basis to Rs 701.10 million for the quarter ended December 2010.
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