Indian Hotels launches new brand

Indian Hotels Co Ltd (IHCL), part of the Tata group, has launched a new brand, Gateway Hotel.

Immediately, 16 existing hotels under the Taj brand umbrella will migrate to the Gateway brand and a total of 10 new hotels have already been signed up. Another 10-15 hotels are under active negotiations. By 2011, the company plans to have 50 properties under this brand.

The new brand has been positioned as an upscale property in the luxury segment and the room tariffs will be the same as per the Taj brand depending on the location.

The Gateway Hotel will be a new brand catering to the emerging set of contemporary travellers, said Raymond N. Bickson, managing director and CEO, IHCL.

Indian Hotels reported a turnover of US$99.5 million for quarter ended June 30, 2008, which was higher than the turnover of the corresponding quarter of the preceding year by 14 percent. The profit before interest and tax for the quarter at US$29.3 million was higher than the profit before interest and tax of the corresponding quarter of the preceding year by 27 percent.