Country Club Hospitality & Holidays Ltd monetizes non-core assets

HYDERABAD - Country Club Hospitality & Holidays Ltd, a leading integrated leisure hospitality & holiday company, has successfully sealed a transaction to monetize a non-core asset in Maharashtra for INR 45 million. The proceeds from the transaction are expected to be utilized to reduce debt.

“The transformation of our company continues as we execute our strategy to deleverage our balance sheet by INR 1 billion and to place an efficient capital structure to propel the growth of the company. We are heading into 2015 reshaped, refocused and to build long-term value for our stakeholders” said Y. Rajeev Reddy, CMD, Country Club Hospitality & Holidays Ltd.

Country Club Hospitality & Holidays has also implemented a price increase with immediate effect of about 15%, across the spectrum of its product basket which will further enhance profitability.

In celebration of 25 year silver jubilee CCHHL has announced a loyalty reward for its esteem members in the form of “Gymkhana Pricing” on its F&B services across all its locations. As a result of this strategy the company has already witnessed an increase in member footfalls to its properties which is expected to translate to higher recurring F&B revenues and future membership revenues.

Country Club Hospitality & Holidays Ltd is the only listed integrated company in leisure hospitality and holiday business. Country Club offers its members, family holidays, fitness & recreational facilities and star-studded entertainment events. The company is committed to promote facilities which ensure that families spend quality time together. The company has presence of operations in over 100 locations, including international destinations such as Dubai, Bangkok, Sri Lanka etc.

sourced:traveldailynews.asia