Taj GVK Hotels & Resorts announced Q3FY23 results:
- Standalone Q3FY23:
- Reported a revenue of Rs 105.56 crore in Q3FY23, an increase of 29% over Q3FY22
- Reported a positive EBITDA of in Q3FY23, an increase of 16% as compared to Q3 in the last fiscal.
- The occupancy increased by 5 percentage points whilst the Average Room Rates showed a significant growth of 19% as compared to the pre-COVID level.
Dr GVK Reddy, Chairman TAJGVK Hotels & Resorts Ltd said "Business continues to be buoyant driven primarily by social events and corporate travel. All the hotels in the portfolio have outperformed in their respective markets. This strong performance over three consecutive quarters matched with cost optimization has resulted in the company's best nine-month performance in a decade with a PAT of Rs 65.38 crore."