Raymond Bickson, who joined Indian Hotels Company Ltd
(IHCL) as executive director in December 2002, will be
the company''s new managing director, effective 19 July
2003. He takes over from R K Krishna Kumar, who moves
on to be IHCL''s non-executive vice-chairman, in line with
Tata group policies.
having 30 years of hoteliering experience, was earlier
general manager of the Mark in New York, now owned by
the Mandarin Oriental Hotel group. "The Taj is at
an inflection point, poised to take off into new spheres,
and Bickson is the right person to be at the helm,"
2002-03, IHCL reported a profit after tax (PAT) of Rs
40.48 crore on a Rs 590.64-crore total income (Rs 538.16
crore in FY02). FY02 results included revenue from its
air-catering business and the Rs 88.99-crore profit from
transferring it to Singapore Airport Terminal Services
(SATS) as a joint venture.
commensurately adjusted FY02 figures, the FY03 operating
profit was up 49 per cent to Rs 39.22 crore (Rs 26.26
crore). The company''s board had recommended a 70-per cent
dividend. IHCL''s consolidated FY03 income was Rs 904.56
crore with a PAT of Rs 28.07 crore.