Vacation ownership and leisure hospitality company Sterling Holiday Resorts declared a profit after tax (PAT) of Rs 5.2 million on a total operating income of Rs 1869.4 million for the financial year ended 2015. EBITDA for FY 2015 came in at Rs 152 million as compared to Rs 634 mn for fiscal 2014.
The company said that the FY15 results were a significant indicator of growing market confidence in the Sterling brand. The Company follows a mixed use model with all its resorts welcoming both members and leisure holiday guests. It was able to successfully increase its resort occupancy to 56% from the previous year’s 49% and the average room rate (ARR) by 19.2%.
Ramesh Ramanathan, managing director, Sterling Holidays said, “The FY15 performance speaks for itself. As should the year-on-year, improved performance metrics over the last 3-4 years. With a solid foundation now laid, at Sterling we are looking to the future with optimism and much excitement.
He added that the company has begun FY 16 on a confident note with four new resorts in one go at Corbett, Daman, Shirdi and Dindi (on the banks of the river Godavari in Andhra Pradesh). “With the addition of 4 new resorts, Sterling is now in a position to offer varying holiday experiences – from hillside and riverside to spiritual, beach and wildlife – in 24 resorts across India,” said Ramanathan
Sterling Holiday Resorts was incorporated in 1986. Currently, it has 1767 rooms spread across 24 resorts located in Corbett, Daman, Darjeeling, Dindi, Dharamshala, Gangtok, Goa, Karwar, Kodaikanal, Lonavala, Manali, Munnar, Mussoorie, Nainital, Ooty, Puri, Sariska, Shirdi, Thekkady, Yelagiri and Yercaud. The company also has 15 additional sites where it plans to add new resorts in the coming years.
Musafir Namah Bureau