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July 17, 2001
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Money > Business Headlines > Report July 17, 2001 |
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Indian Hotels may hive off air catering divisionBS Corporate Bureau The Indian Hotels Company, as part of its plan to restructure the airline catering division, is likely to hive off the business and bring in a joint venture partner. The board of the Tata group hotels flagship is meeting on Tuesday to consider the proposal. The air catering business has reported a total income of Rs 1.11 billion for fiscal 2000-01 compared with Rs 884 billion last year. The division contributes over 16 per cent to the company's turnover. Analysts said that the Taj group of hotels could draw some synergies through the move if they were to acquire the air catering business of state-owned Hotel Corporation as well. The Taj group, which has expressed interest for the Hotel Corporation properties, is also looking closely at its air catering unit, Chefair. Senior Indian Hotels officials said the flight catering business "has the possibility to emerge as one of the fast growing areas in the hospitality trade". The Taj group had restructured the flagship into four different strategic business units -- luxury, leisure, business and air catering. The luxury hotels division is the largest with a turnover of Rs 4.51 billion followed by the air catering business. The air catering business has gone through an organisational restructuring with a new head in M S Kapadia, currently the chief operating officer of the division. Shashank Warpi, the former head, now leads the business hotels category. Warpi moved in to fill in the slot vacated by Patu Keswani, who moved to management consultancy firm A T Kearny. Powered by YOU MAY ALSO WANT TO READ:
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