Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
GVK Reddy, Chairman of TajGVK Hotels & Resorts Ltd,
Hit by the Covid-19 pandemic and lockdown, TajGVK Hotels & Resorts Ltd has posted a loss of ₹21.18 crore on a consolidated basis for the first quarter ended June 30, 2020 as against a profit of ₹5.90 crore for the corresponding quarter of previous fiscal.
An associate company of The Indian Hotels Company Limited (IHCL). The company revenue was down 95.5 per cent for the first quarter at ₹3.25 crore as against ₹72.18 crore for the corresponding quarter last year.
GVK Reddy, Chairman of TajGVK Hotels & Resorts Ltd, said: “The global pandemic of Covid-19 and the nation-wide lockdown has had an adverse impact on the performance. With initiatives like Hospitality @ Home and by hosting small wedding events in Unlock- Phase 1, we have been able to generate some revenue. The company has also implemented various cost optimization initiatives, to manage available funds judiciously.”
Greenwoods Palaces & Resorts Private Limited – a JV company which operates Taj Santacruz — reported an income of ₹6.96 crore against the previous year of ₹32.24 crore
All the properties took part in the Vande Bharat Mission, Taj Deccan hosted some wedding functions in June and Taj Deccan and Taj Krishna offered takeaway meals under IHCL’s Hospitality @Home initiative. Taj Santacruz reached out to assist the medial fraternity and provided them accommodation as well as offered rooms to repatriation guests under the Vande Bharat Mission.
The hospitality sector is one of the most affected sectors by this global pandemic, due to which business has seen an all-time low with recovery being rather slow. With the nationwide lockdown starting March 22, the hotel occupancies were severely impacted. Currently, three of the TajGVK hotels are operational and the remaining hotels will reopen over the next few months, in a phased manner.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
Only half the Sensex stocks have bettered the index’s return in the last 10,000-point journey
High valuation and stiff competition from larger players are a dampener
Investors with a short-term perspective can buy The New India Assurance Company (NIACL) stock at current ...
₹1490 • HDFC Bank S1S2R1R2COMMENT 1475146015051520 Fresh short positions are recommended with a stiff ...
What makes the new crop of young Indian cricketers such game-changing winners? Over and above their talent, ...
Regina King’s film ‘One Night in Miami’ turns the spotlight on four young men’s often conflicting ideas of ...
Each new year millions of people around the world resolve to change their lives for the better. These ...
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor