IHCL runs the Taj brand in the luxury five-star segment; the Vivanta brand in the four-star segment; Gateway Hotels in the three-star segment; and Ginger in the budget space.
Shareholders were told that Vivanta has performed higher than its competitive set and that the distinct brand elements of Vivanta are strongly endorsed. The multiple-brand strategy followed by the company to ride the growth wave in the Indian hospitality industry and to retain its domestic leadership, appears to be working well, company officials said.
"Domestically, the state of the economy is a matter of growing concern with slowing economy, persistently high inflation, uncertain political environment and depreciation of the Indian rupee weakening the overall economic sentiment of the country," said Ratan Tata.