Mumbai attacks play spoilsport

The 26/11 terrorist attacks affected the third quarter performance of IHCL, which reported 38% drop in net profit at Rs 84 crore, and 12 per cent drop in turnover at Rs 457 crore against the same quarter previous year.

The 26/11 terrorist attacks at its flagship Taj Mahal hotel, Mumbai, severely affected the third quarter performance of Indian Hotels Company Ltd (IHCL), which reported 38 per cent drop in net profit at Rs 84 crore, and 12 per cent drop in turnover at Rs 457 crore against the same quarter previous year.

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“December was a bad month. Despite the tragedy we quickly bounced back. We re opened Taj Tower wing, opened five new hotels and will open five more in the next 60 days. Now the recovery has been smart from mid January,” said Raymond N Bickson, managing director, Indian Hotels Company Ltd.

He said the heritage wing of the Taj would reopen in a phased manner in the course of 2009.