International Travel House Ltd Share Price

History of International Travel House Ltd

International Travel House Limited, a part of ITC Group of Hotels was originally incorporated as Indian Exploration Pvt Ltd on 29th June, 1981, which acquired its present name in 1992. The Company is one of the India's leading travel management company and is engaged in the business of providing travel related services to travellers in India and abroad. The Company offers a range of services related to travel and tourism with offices in all the Indian metros plus Ahmedabad and Pune. The company's activities include international and domestic air ticketing, hotel bookings, conference management services, conducting in-bound tours, forwarding cargo/freight, rent-a-car, etc. The company is recognised by the Department of Tourism, Government of India, and is also approved by Indian Airli ...nes and International Air Transport Association. It signed a MoU with Rosenbluth International Alliance, US, for cross-reference of business and client servicing. Citibank has entered into an agreement with the company for sale of Citicorp travellers cheques and Visa traveller cheques. The company is computerising its operations, and setting up E-mail link-ups and on-line computer reservation facilities throughout its branch network. It is also expanding its travel and domestic network and is setting up golf courses and resorts of international standards in the country. The company through its subsidiary M/s Vins Overseas India Ltd, is in a leading position in the branded transport segment. In 1996-97 it has launched yet another branded car rental product in India - the Mercedes Drive - to cater to the needs of a very upmarket traveller segment. In 1997-98, the company has entered into a Joint venture with ABN Amro Lease Holding N.V, in the vehicle leasing and fleet management business. The company has already received the necessary government approvals required for this purpose. Landbase India Ltd along with it's eight subsidiary were ceased to be the subsidiary of ITHL effective from Sep 9, 2000 consequent to the divestment of ITHL's entire 70% stake in Landbase India Ltd to ITC Ltd. This is in line with ITHL's policy of divest from non-travel business. During 2001-02, the Scheme for Amalgamation of the Company's wholly owned subsidiaries, Vins Overseas India Limited and International Travel House Explorations Limited (THEX) with the Company was implemented by the Hon'ble High Court of Delhi vide its Order dated 27th August, 2001 and the amalgamation was effective 19th October, 2001. The Travel House Holidays' was launched. Four new hotel travel counters were opened during the year 2001. The Company added to its network strength by opening the 10th IATA location at Vadodara. A new hotel counter opened at the ITC Hotel Sonar Bangla heraton and Towers in Kolkata and a car rental outlet at International Technology Park Limited in Bangalore in 2003. During 2003-04, the Company introduced the reservation distribution system with an Oracle-based accounting package. It integrated its ticketing capacity by offering electronic tickets (e-tickets) across its 10 IATA locations in the country. Satellite ticket printing on domestic carriers like Jet Airways was made available at the ITC Hotel Maurya Sheraton and Towers, New Delhi and ITC Hotel Windsor Sheraton and Towers, Bangalore to begin with. Catering to the discerning and up market inbound global holiday market, Company launched over 100 luxury vacation products and programme. During 2005, the Company launched the 'Travel House Guide to Incredible India' at providing to the inbound travelers as a holiday destination. The Company's leadership position in car rental industry was enhanced with emphasis on safety, reliability and quality of its fleet and product offerings to the corporate segment. The fleet size of the Company grew to over 450 cars across the country. Two Hotel Travel Services counters were added in Mumbai and Gurgaon. It launched 'World Class Holidays' in 2006. Destination Management Services was launched by Company which offers 'meet and greet' services, short excursions, guides, hotels and transport at all gateway and tourist cities in India, in line with global destination management practices during 2006. To enhance services to customers, state-of-the art offices were set up in Bangalore, Mumbai, Gurgaon and a new larger office space was commissioned in Pune in 2006. New car rental outlets were opened in Bangalore and Mumbai. New branch offices were commissioned at Chandigarh in September 2007 and at Noida in March 2008. The Car Rental Division of Company was expanded to Faridabad, Siliguri, Vashi and Vadodara. Three additional hotel counters opened during year 2014 at New Delhi, Bengaluru and Jodhpur. The Company opened boutique offices at Vishakhapatnam and Ahmedabad to provide car rental services during 2016. In FY 2021-22, the Company collaborated with ITC Group of Hotels and formulated Safe Drivable Getaways'. In addition, it launched Magical Journeys at select domestic and international locations.