The Economic Times: February 29, 2012
Sinclairs Hotels has lined up new projects in West Bengal. This includes a luxury hill resort in Kalimpong, a hotel and banquet complex in Burdwan and a 106 room premier business hotel in Kolkata for which the company is awaiting final sanction.
Sinclairs Hotels on Tuesday announced reopening of Sinclairs Retreat Ooty . The 72-room and 7-suite hill resort is located 2240 m above sea level in the Nilgiri Hills or Blue Mountains, and has been extensively refurbished after undergoing a complete renovation and upgradation programme through all of 2011. The property, which is a 3-hour drive from the Coimbatore airport, has opened in time to leverage the peak summer season which typically sees a spike in tourist arrivals in the region.
Sinclairs' portfolio, ex-Ooty, which comprises properties in Siliguri, Darjeeling, Dooars and Port Blair, recorded strong year-on-year performance with a 10% increase in topline and 5% increase in profit from the previous year.
The group also recently acquired majority ownership of Savannah Sarovar Premiere - a 104 room upscale operational hotel in Whitefield, the IT hub of Bengaluru. With this acquisition, Sinclairs is firmly positioned to cultivate the traditionally strong business and leisure segments in Bengaluru and its adjoining metropolitan region.
Navin Suchanti, CEO and MD of Sinclairs Hotels Ltd. said, "Sinclairs has pursued a focussed strategy of delivering strong operating performance, enabling the company to deliver consistent growth and attractive returns to shareholders. In the last two fiscals, dividends of 25% and 35% were paid to the shareholders. The board of directors of Sinclairs Hotels has announced an interim dividend of 40% for the current fiscal FY 12 on the back of continued strong operational performance."
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