Home  »  Company  »  Kamat Hotels (India) Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Kamat Hotels (India) Ltd. Company History and Annual Growth Details

Kamat's is now a large hospitality Group with interests in Luxury Hotels, Budget Hotels & Restaurants, Family Leisure & Sports Clubs, Travel Business, Catering & Educational Institutions, Departmental Stores and of course Restaurants.

Kamat Hotels (India) Limited was incorporated on 21st March, 1986 in the State of Maharashtra by Late Mr. Venkatesh Krishna Kamat and his associates with the main object of setting up and running of hotels and related business. The Company obtained the Certificate of Commencement of Business on 31st March, 1986.

The Flagship of the Company - KAMAT HOTELS (INDIA) LIMITED is a Public Listed Company and the group flagship hotel of the company viz., THE KAMAT PLAZA, a four star hotel near the Santacruz Airport was taken by the Company - KAMAT HOTELS (INDIA) LIMITED pursuant to the Management Contract with Plaza Hotels Private Limited for a period of 30 years with effect from 1st April, 1994.

In the year 1994, the company achieved good results ; reasons being the rising demand for suitable accommodation in the City of Mumbai due to economic globalization and at the same time a boom in the real estate market with acute shortage of hotel rooms in the city of Mumbai.
Hence, the then Management of the Kamat Plaza Hotel undertook to expand the project immediately after its Public Issue during the year. . Under their able guidance and after having done a detailed market study/ survey along with a feasibility report, decided to upgrade the Project to a Five Star Property and hired the services of Mr. D. M. Upasni , an Architect of repute and an International Designer - Lynn Wilson from USA, ( who is ranked among the top 10 in the world ) to design the hotel interiors, keeping in mind the needs of a Business Traveler along with his luxury and comforts, comparable to international standards.

Marketing being an important aspect of the Hospitality Industry, positioning of the property is an important aspect too. Unto us was born a brand, unknown so far in the continent of Asia - a green hotel - environmentally sensitive - right from brick to paper and taking care of every little guest need at the same time - In our efforts to position this brand, it was proved that 87% of international travelers do patronize green hotels. Thus awakened the need to tie up with an International Firm- HVS ECO SERVICES of - HVS INTERNATIONAL, NEW YORK who were hired to undertake - specific environmental programmes, designed to lower operating costs and increase revenues and evaluate the hotel's environmental performance in various areas. Needless to say - THE ORCHID, as it is aptly renamed, was awarded the prestigious 'ECOTEL' Certification' by HVS ECO SERVICES, USA, which is the hall mark of environmentally sensitive hotels. The Hotel thus becomes the first hotel in Asia to obtain the coveted certification.

The Orchid has employed a high powered team of professionals from the Industry and it opened its doors to Public on World Tourism Day - 27th September, 1997. It has been well received both in the domestic and international market and enjoys a near 82.7% occupancy in the year 2000-2001 having well appointed rooms and suites with luxurious 5 star facilities.

In the year 1994, The Company made its Initial Public Issue of Equity Shares aggregating to Rs.3060 lakhs and Non-Convertible Debentures (NCD's) aggregating to Rs.550 lakhs. The Equity Share of Rs.10/- was issued at a premium of Rs.50/-. The NCD of Rs.100/- had a coupon rate of 14%. The NCD Issue of the Company was rated 'A-' by CRISIL. The above rating was retained by CRISIL till the NCDs were redeemed on 12-12-2001.

The above mentioned issue opened on 17th October, 1994 and closed on 21st October, 1994 was oversubscribed by 3.65 times. The Company shares are listed on stock exchanges at Mumbai, National Stock Exchange and at the Chennai. The Company has declared dividend for the last financial years as under:

Financial Year Dividend (%)
1995 8
1996 8
1997 8
1998 (18 months) 12
2000(15 months 8
2001(12 months 8
2002 (12 months) 5
2003 (12 months) Nil
2004 (12 months) 6
2005 (Interim Dividend) 10

Division:

Kamats Tours & Travels established in July 1995 - engaged in Marketing of Destination and Package Tours & GSA for amusement parks. It has a turnover of Rs. 152 lakhs in the year 2000/01.

Kamats Institute Hotel Management, Catering Technology & Food Research Centre established in July 1995 - offering certificate courses in the field of Catering and Hospitality achieved a turnover of Rs.35.38 lakhs in 2004/05. It shortly proposes to offer 3 year diploma courses in Hotel Management and Catering Technology.

Kamats Restaurant at Esselworld - India's and Mumbai's famous Amusement Park taken - under Business Contract Agreement with Pan India Paryatan Ltd for 7 years achieved a turnover of Rs. 93.50 lakhs during 2004/ 05

Gulal/Chinese Pavilion at FantasyLand under Business Contract Agreement with Madhu Fantasy Land Pvt. Ltd. for 5 years achieved a turnover of Rs.0.76 lakhs for 2004/05.

Kamats Siddharth at Nashik- 32 rooms - 3 Star Hotel with permit room and turnover of Rs.110.10 lakhs, during 2004/05 is under Business Contract Agreement for 35 years with effect from July 1996.

Kamats Development - A Construction Company to take up future construction in the Group.

Kamats Catering - for Events and Large gathering catering.

The Orchid - Asia's first Eco Friendly Five Star Hotel was partially opened to public on World Tourism Day - 27th September 1997, is operational with 221 rooms and 12 suites.

The Hotel has been awarded the prestigious 'Green Globe Award' for the year 1998 by World Travel Mart in London. It has recorded a turnover of Rs. 5594.77 lakhs during the year ended March 2001.

With the dawn of the new millennium, the Landmark of Mumbai 'THE ORCHID' Asia's First Five Star Ecotel, commissioned in 1997 amidst much aplomb and recipient of many awards, has once again earned pride of place and was honored with the IH&RA ' Green Hotelier and Restaurateur' Award, signifying and reinforcing man's determination to maintain a peaceful co-existence with environment and nature, by the need to give as much as it receives from her bountiful generosity. Backed by an enthusiastic, motivated and experienced Management whose total commitment is Human Resource Development, it also boasts of the latest technology, which is environment friendly. The Orchid's environment friendly route is definitely carving out a significant and special niche for us not only at a national level but international as well.

The HVS has also designated the Orchid Hotel as an 'Industry Pioneer' and will hold the torch to other organizations as well.

While the world races towards rapid development, and the Earth is being depleted of its natural resources by the second, Asia's First Five Star Ecotel, The Orchid, continues its magnificent job of trying to save the Environment. Recognition Awards are normally nominated by the Green Globe Industries Associates for the members of their own organizations whom they feel have made significant contribution towards saving the environment.

The continued dedication and invaluable assistance rendered by The Orchid Team members caught the attention of the International Hotel and Restaurant Association, who thus nominated The Orchid for the Green Globe Achievement Award 2000 - RECOGNITION AWARD. On 15th March 2000, at a grand ceremony held during the ITB , in Berlin, Mr. Bob Collier, Chairman of Green Globe presented the prestigious GREEN GLOBE ACHIEVEMENT AWARD 2000- RECOGNITION AWARD to Mr. Vithal Kamat, Chairman & Managing Director and Mr. Param Kannampilly, Technical Director on behalf of The Orchid. From International to National Awards.

The Orchid again became a resounding success when it bagged the Dr. M.S. Swaminathan Award for Environmental Protection. The award instituted by the Rotary Club of Madras East and Earthcare Group was presented to our Technical Director , Mr. K.P. Kannampilly on 7th August 2000 , but none other than Dr. M.S. Swaminathan himself.

The Environment Champion of the Year 1999-2000 amongst Large Hotels, from the Federation of Hotel & Restaurant Association of India ( F.H.R.A.I) was accorded to The Orchid at a glittering function held on 14th October, 2000. Chairman & Managing Director Mr. Vithal Kamat collected the award on behalf of The Orchid.

Hotel & Catering International Management Association (HCIMA)- London awarded

The Environment Policy Award 2000 to The Orchid .Our Technical Director , Mr. K.P. Kannampilly received the award on 11th October 2000 in London.

World Travel Market Environmental Company Award 2000 was awarded on 15th November 2000, in London .

The Orchid was Re-certified as Five Globe Ecotel- one of the only Five such Hotels in the World, on December 6, 2000

Following prestigious Awards have been won by 'The Orchid' for the year 2000-2001

An International Certification from HVS ECO Services being awarded a 5 Globe ECOTEL rating in May 1997 and once again being re-certified as 5 Globe ECOTEL in December 2000.

Federation of Hotel and Restaurant Association of India (FHRAI) Environment Champion of the year - for large hotels.

Hotel & Catering International Management Association (HCIMA) Best Environment Policy 2000.

Regional Directors Tourism Award 2000.- Western & Central India- awarded to Shri Vithal V. Kamat towards his contribution to the Tourism Industry.

National Tourism Award for best 5 star Hotel Western Region - January 2001.
PATA Gold Award given by PATA, Malaysia for best Corporate Environment Programme 2001- April, 2001.

ISO 14001 Certification 2001 - 24th May, 2001.

Rotary Club of Mumbai North Island awarded to Shri Vithal V Kamat for his concern towards environment protection and providing the 1st eco-friendly 5 star Hotel in Asia to the city of Mumbai.

British Airways Tourism for tomorrow Awards- Large Scale Tourism

Paryavaran Shree Puraskar 2001-2002

International Hotel & Restaurant Association Environmental Award 2001

4 PATA (Pacific Asia Travel Association India chapter -Environmental Award for 2001 on the Hotel 'Excellence' category.

2008

-Kamat Hotels (I) Ltd has appointed Mr. Mahesh Kandoi Company Secretary and Compliance Officer of the Company with effect from 2nd April, 2008.

-Kamat Hotels (I) Ltd has appointed Mr. Kurian Chandy as Chief Financial Officer (CFO) of the Company with effect from September 01, 2008.
 
Subscribe now to get personal finance updates in your inbox!