News

ICRA reaffirms Apeejay Surrendra Park Hotels Group’s Long-Term and Short-Term Ratings

theparkhyderabad 9358adf37f3ac52 0 ICRA reaffirms Apeejay Surrendra Park Hotels Group’s Long-Term and Short-Term Ratings

The Rating Committee of Investment Information and Credit Rating Agency (ICRA) has reaffirmed the Long-Term Rating of Apeejay Surrendra Park Hotel Groups for the captioned Line of Credit (LOC) at ICRA A+ for Rs. 504.03 crore. The independent Indian agency has also reaffirmed the short-term rating for the captioned LOC at [ICRA]A1+.  The outlook on the ratings is ‘stable’.

ICRA reviews the ratings assigned to a company on an annual basis or as and when the circumstance warrants.
Commenting on the ratings, Vijay Dewan, Managing Director Apeejay Surrendra Park Hotels Ltd. said, “This rating from ICRA re-affirms Apeejay Surrendra Park Hotels Group’s success and growth story. Leadership in occupancy and rev-par, high share of food & beverage income and a balanced capital structure have been the key drivers for the company’s growth. Apeejay Surrendra Park Hotels Group is well placed in the market to capture the benefits of the next upcycle in the industry”
The rating draws strength from the company’s established position as five-star luxury hotel brand present across attractive locations in geographies in India. With a portfolio of 20 hotels (including 13 under the management contract), comprising 1,798 rooms spread across key geographies in India, Apeejay Surrendra Park Hotels Limited is a medium sized, but well-established player with over 50 years of experience in the Indian hotel industry.

Related posts

Qatar Airways named Airline of the Year and Best Business Class by 2021 AirlineRatings

Qatar Airways has been named Airline of the Year 2021 by AirlineRatings. The airline has also clinched the Best Middle East Airline,…

Six Senses Fort Barwara - a sanctuary of well being - is now open for bookings for 2021

Slated to open its doors for its guests, in October 2021, Six Senses is opening its first resort in India at Fort…

Rajib Roy Choudhury appointed new Senior General Manager at Vedic Village Spa Resort

Vedic Village Spa Resort has announced the appointment of Rajib Roy Choudhury as the Senior General Manager. With over 2 decades of…

Kunal Chauhan appointed new General Manager at JW Marriott Sahar

Kunal Chauhan has been appointed as the General Manager at JW Marriott Mumbai Sahar. With industry exposure across leading hotel chains in…

Preetaya Guha appointed new Executive Housekeeper at JW Marriott Juhu effective July 2021

JW Marriott Juhu appointed Preetaya Guha as the new Executive Housekeeper.

Deepak Verma appointed new Director Sales and Marketing at The Westin Hyderabad Mindspace

The Westin Hyderabad Mindspace has announced the appointment of Deepak Verma as the Director of Sales and Marketing, spearheading the hotel’s business…

Airlink names AirlinePros International as GSA in India to secure optimum market share

 Airlink, the privately owned South African regional airline based in Johannesburg, has named AirlinePros International as its General Sales Agent for India…

Rahul Bose appointed new General Manager at The Aananda Imperial, Bilaspur

The Aananda Imperial a unit of DRV Inn LLP, Bilaspur, Chattisgarh has announced the appointment of Rahul Bose as the new General…

INNERgise a super healthy lifestyle

INNERgise – a curated set of menus

Fortune Hotels launches 4 new offers including ‘Gratitude package’ for Covid Warriors

As travel and tourism opens up again, Fortune Hotels, a member of ITC’s hotel group, has announced attractive packages to address the…