HYDERABAD, AUGUST 9, 2023: TAJGVK Hotels & Resorts Ltd., part of India’s largest hospitality company chain, reported its financials for the first quarter of FY 2023-2024 ending June 30, 2023. The highlights for which were:

STANDALONE FINANCIAL RESULTS FOR THE 1st QUARTER ENDING JUNE 30th, 2023

Dr. GVK Reddy, Chairman TAJGVK Hotels & Resorts Ltd said, “Continuing the demand momentum, the first quarter witnessed a healthy growth in revenues aided by RevPAR leadership in all our key markets. 

He added, “In the current quarter TAJGVK has commenced product enhancements at Taj Deccan with an aim to completely reposition its key asset.”

Greenwoods Palaces & Resorts Private Limited – a JV company that operates Taj Santacruz, Mumbai reported an income of INR 49.87 Crore with an EBITDA of INR 21.22 Crore in Q1, FY 2023-24.

KEY HIGHLIGHTS 

• Taj ranked as India’s Strongest Brand across sectors and industries by Brand Finance’s Brand Value Report India 2023. 
• Taj Krishna Rated India’s # 2 and Asia’s 18 Hotel by 2023 Travelers’ Choice Awards by TripAdvisor.
• Taj Deccan Rated India’s # 12 Hotel by 2023 Travelers’ Choice Awards by TripAdvisor.
• Taj Krishna hosted the prestigious G20 Nation’s meet in Q1.

About TAJGVK Hotels & Resorts Limited 

TAJGVK has a portfolio of five hotels that includes Taj Krishna, Hyderabad; Taj Deccan, Hyderabad; Taj Club House Chennai; Taj Chandigarh and Vivanta Hyderabad, Begumpet. TAJGVK Hotels & Resorts Limited is a Joint venture between the GVK Group and The Indian Hotels Company Limited (IHCL). It also co-owns Taj Santacruz, Mumbai through a JV company, Greenwoods Palaces & Resorts Private Limited.