Saturday, 24 October 2020

ORIENTAL HOTELS LIMITED ANNOUNCES

ORIENTAL HOTELS LIMITED ANNOUNCES SECOND QUARTER 20/21 RESULTS
 
Oriental Hotels Limited reported its results for the second quarter ending September 30, 2020

Standalone Financial Results for the Quarter ending September 30, 2020

Mr. Pramod Ranjan, Managing Director & CEO, Oriental Hotels Ltd. said, “All our hotels resumed operations in a staggered manner after the lockdowns were lifted.We are seeing encouraging signs of demand and gradual recovery. The occupancies are increasing month on month.”

KEY HIGHLIGHTS

•    All OHL hotels have reopened including Taj Fisherman’s Cove Resort & Spa as on 1st September 2020.

•    Southern Spice Restaurant, Chipstead Bar and Bay View Restaurant in Chennai have been awarded the Best South Indian restaurant, Best Bar and Best Sea Food restaurant respectivelyby the ‘Times FoodGuide’

•    Online delivery of food from our signature restaurants is now available on the“Qmin”application.

•    OHL’s hotels have effectively implemented heightened hygiene and safety procedures for all guests, employees, partners and vendors. Some of these measures include thermal screening of all employees and guests, intensive hospital level sanitisation of its hotels as well as new contactless processes and social distancing measures. To Know more, please visit: Tajness- A Commitment  Restrengthened

•    The iconic brand“Taj”was ranked number one on the list of the strongest Indian brands by Brand Finance in their coveted “India 100 2020 report. Three OHL hotels are brandedTaj.

COVID-19


The company has taken a series of actions to ensure adequate liquidity and cost optimization. Cash ConservationmeasureshaveincludeddeferralofdiscretionaryspendingandCapex,unlessabsolutely required.

We expect a recovery in business to be driven by domestic leisure and business tourism, and limited international travel. We do not expect any significant challenge to our supply chain. We will keep our investors and other stakeholders informed with relevant updates.

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