Executive Chairman of EIH Limited makes announcement during the 66th AGM while also saying company has shown better performance in terms of profitability compared to last year.
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Revenues were up 33.5% to €922 million; EBIT up 68.0% to €226 million; and the company had opened 23,000 rooms in this period.
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To drive organic growth, the group’s South Asia team has expanded its presence in state capitals, while accelerating growth in emerging secondary and tertiary cities as connectivity and infrastructure in the country improves.
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Brand produces 15% YOY increase in reservations revenue, strengthens iPrefer program, and marks first-time presence in five countries across the Middle East and Scandinavia.
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Marriott expects fourth quarter 2016 operating income could total $530 million to $555 million, a 9 to 14 percent increase compared to pro forma fourth quarter 2015 operating income of $488 million.
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