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July 18, 2001
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Money > Business Headlines > Report July 18, 2001 |
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Ind Hotels to pick SIA arm for air-catering ventureReeba Zachariah The board of Indian Hotels Company, the Tata group's hotels flagship, is meeting on Wednesday to clear a proposal to set up a joint venture for its airline catering business with a Singapore International Airlines subsidiary, a senior Tata group source here told Business Standard. Negotiations with Singapore Airline Terminal Services, the SIA subsidiary which handles the air catering business, have been on for some time. The Taj group's air catering business reported a total income of Rs 1.11 billion for 2000-01 compared with Rs 884 million in the corresponding period last year. The business accounts for over 16 per cent of IHC's turnover. Airline and hotel industry analysts welcomed the development, saying that SIA would be the right partner as it is already associated with the Tata group in bidding for the public sector company Air India. They said the Taj group could draw some synergies through the move if it were to acquire the state-owned Hotel Corporation's air catering business as well. The Taj group, which has expressed an interest in 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 of emerging as one of the fastest 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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