Ginger Hotel plans to sell properties to become asset-light
In-line with Indian Hotel Company’s Aspiration 2022 strategy, its subsidiary Ginger Hotels is aiming to sell six properties held across various locations in Bengaluru, Goa, Mysuru and Pondicherry.
Ginger Hotel is a budget accommodation brand of Indian Hotel Company.
The company has asked Horwath HTL Corporate to carry out the sales of properties presently owned by the company and to leaseback the same properties or offer management arrangements, said media report.
With Aspiration 2022 strategy, which the company revealed this year, the Indian Hotel Company is targeting to become asset-light and improve its EBITDA margin to the level of 25 per cent by 2022. By 2022, the company aims to monetise its non-core asset and targets to hold only 40 per cent of its assets.
In Friday’s trading session, the stock of Indian Hotel Company is trading flat. At 11.21 hours, the stock was trading at Rs. 128 per share, up by 0.7 per cent.