Advani Hotels & Resorts (India) Ltd Share Price

History of Advani Hotels & Resorts (India) Ltd

Advani Hotels & Resorts (India) Limited was originally incorporated as a Public Limited Company on March 13, 1987 in the name of Ramada Hotels (India) Limited. The name of the Company was changed from Ramada Hotels (India) Limited to Advani Hotels & Resorts (India) Limited in 1999. Promoted by S G Advani and H G Advani, the Company is primarily engaged in the Hotel Business through its 'Caravela Beach Resort', a 5-Star Deluxe Luxury Resort situated in South Goa. The company came out with a public issue in Sep.'89 for its maiden venture -- Ramada Resort -- a five-star luxury resort comprising 140 rooms (including 6 villas) in a terraced-garden pattern at Colva beach, Goa. By virtue of the franchise agreement with Ramada, UK, the collaborators provide substantial assistance in marketin ...g, and defining strategies for advertising and promotion. The company is also linked to Ramada's computerised reservation system worldwide. During 1995-96, a complex consisting of the flight kitchen, restuarant and bar was inaugurated next to the airport in Goa. It commenced commercial operation in Apr.'96. The company's project at Jaipur has not yet been cleared by the government and the Goa Fort continues to be a complicated legal affair with our company obtaining a stay against retendering of the same. During the year 1999-2000, the company has a formed a joint venture company i.e. Advani Plasure Cruise Co. Pvt. Ltd., in collaboration with CIA Casinoinvest International International GMBH Austria to carry on the business of casino on board a pleasure cruise in and around Goa. The company is proposed to invest Rs.500 lakhs in the joint venture. The Pleasure Cruise Ship,with India's only full fledged Casino on Board,started operations on 17.02.2001. The Company commissioned the renovation of 60 rooms to high international standards in 2007-08. The sale of Airport Plaza, Company's Flight Catering Unit got completed effective on 4th June, 2008. On 19th January 2010, the Company sold the 51% stake into the erstwhile subsidiary (Advani Pleasure Cruise Company Private Limited (APCCPL) to Delta Corp Limited for a consideration costing Rs 2.45 crores and resulting to the said Sale of Investments, APCCPL ceased to be a subsidiary of the Company w.e.f. 20th September 2010. The Company completed improving the décor of 20 guestrooms in the South Wing and further commenced renovation of the balance 42 rooms in the South Wing during year 2010-11. Part of the original flooring of the lobby was replaced in 2016-17. A section of the flooring in the outdoor portion of the All Day Dining Restaurant was replaced in 2017-18. A new Diesel Generator from Cummins was installed in 2017-18. The upper and lower lobby flooring was replaced entirely in August, 2018. During year 2018-19, the work completed included water-proofing of the Varca A and Varca B Ballroom and the South-section and West-section of main lobby roof to arrest certain leakages. Thereafter, the entire 23-meter high lobby was painted with the help of a boom-lift. Simultaneously, a complete renovation of staff lockers and staff toilets and executive lockers and toilets took place and the service elevator was also completely retrofitted with new equipment from Otis. The old Garden Villas 11-19 were enhanced by installing a new double leaf arch-shaped balcony door, new balcony tiles, a new main door and new flooring. The Company procured an imported SALVA bakery deck oven, new dough sheeter, meat mincer and an additional ice cube machine to enhance the kitchen operations. In addition, the Company added one Toyota Innova Crysta and one new 12-seater coach to the Company's fleet of vehicles to facilitate guest transportation. One Mahindra Maxi vehicle was procured to improve material movement. The Company bought new guest-room telephones, Samsung TV's and minibars. Lastly, it procured new sun loungers for the pool area and new dinning chairs and tables for the beach restaurant. During the year 2019-20, new 12-seater coach was added to the Company's fleet of vehicles to facilitate guest transportation. Also a 4-seater buggy was added for movement of guests within the hotel. One buggy with catering box was added for Food & Beverage department for smooth movement of food and beverage to various function venues given to groups and marriage parties. The Company procured new sun beds, dining tables and arm chairs. For banquet halls, it added banquet tables and dining chairs. It procured an imported Robot Coupe Veg Processor, Blanco plate warmer, packing machine, 4 door freezers and Roller Grill Waffle Machine to enhance the kitchen operations. Also exhaust fan with duct was installed at cafeteria tandoor area. As per the requirement from engineering department, submersible pump, blower fan and engineering data recording software was installed at back office. Lastly, the Company added new telephones, Samsung LED TV's, Dehumidifiers for guest rooms. The Company installed energy efficient Heat Pumps in FY 2020-21. During FY 2021-22, the waterproofing of the North-Wing A-section and the remaining part of the Lobby was completed to protect the structural integrity of the buildings. The Company replaced the 3-Phase Centrifugal Blower in the Kitchen. The Company procured a Toro ride-on mower to maintain the golf course. It procured three Horizontal Reach-in Refrigerators for the Main Kitchen and Cafeteria. As per requirements of the Food & Beverage Production Department, a Gas Stove Burner, Electric Bain Marie, Air fryer and SS Insulated Cold Display Unit were procured. Lastly, Company added new trolleys, telephones and Samsung televisions into the Resort. The Company launched 2 luxury coaches and 2 Innova Crysta to its fleet for guest transportation, considering Mopa Airport became operational in January 2023.