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

Fortune Hotels announced its 6th hotel in Delhi NCR

Fortune Hotels announced its 6th hotel in Delhi NCR Inks an agreement for Fortune Park Vivek Vihar, New Delhi Fortune Hotels, a…

IHG Hotels & Resorts debuts 141-key Holiday Inn Express and Suites Jaipur in popular holiday circuit

a management agreement with notable real estate developer, Dinesh Kumar Choudhary (HUF) for a new hotel – Holiday Inn Express & Suites Jaipur Karoli Bagh

FNP Gardens rebrands as FNP Venues- a perfect destination for weddings and events

FNP Gardens revamps to new brand identity as FNP Venues, a unit by Ferns N Petals. A perfect place to celebrate happiness…

The splendid 281 room Leela Bhartiya City Bengaluru opens in vibrant Bengaluru

The Leela Bhartiya City Bengaluru opens in Bengaluru

Pride opens doors of Pride Chira Meadows Ecoresort and Wellness spa in Dapoli

Pride has launched Pride Chira Meadows Ecoresort and Wellness Spa

ibis opens its 20th hotel in India - the new generation design- ibis Mumbai Vikhroli

ibis Mumbai Vikhroli

Tourism Fiji - International borders reopen on Dec 1, 2021, for visitors to the paradise island

Tourism Fiji tells the world it’s time to book a trip to the ‘Place Where Happiness Finds You’. The island paradise of…

Monaco is For You. At last!

With the launch of its new campaign, the Monaco Tourist and Convention Authority communicates that it’s time for tourism recovery.

Team Mysa jubilant winners in the Sreenidhi University Telangana Premier Golf League 2021 by Hyderabad Golf Association

The sport of Golf persevered on October 9th, 2021 at the finals of the first edition of the Sreenidhi University Telangana Premier Golf…

BWH Hotel Group announces new President and CEO Lawrence M Cuculic effective Dec 1, 2021

BWH announced Lawrence M Cuculic has appointment as President and CEO