Apeejay Surrendra Park Hotels Limited , a prominent player in the Indian hospitality sector, has secured shareholder approval for the re-appointment of Vijay Dewan as Managing Director. The decision, made at the company's 36th Annual General Meeting (AGM) held on September 27, 2024, extends Dewan's tenure for another three years, from December 1, 2024, through November 30, 2027.

Leadership Continuity

The re-appointment of Vijay Dewan comes on the recommendation of the Nomination and Remuneration Committee and the Board of Directors, highlighting the company's confidence in his leadership. Dewan, who has been with Apeejay Surrendra Park Hotels since April 8, 1991, brings a wealth of experience to the role, with approximately 32 years in the hospitality industry.

Educational Background and Industry Experience

Vijay Dewan's credentials include:

• Master's degree in organic chemistry from Garhwal University
• Post-graduate diploma in hotel management from the Oberoi School of Hotel Management

His extensive experience and educational background have likely contributed to his long-standing position within the company.

Industry Leadership Roles

Beyond his role at Apeejay Surrendra Park Hotels, Dewan has held several significant positions in industry associations, showcasing his influence in the broader hospitality and business sectors:

• Chairman of CII West Bengal State Council (2019-2020)
• Chairman of CII Eastern Region (2021-2022)
• National Council Member of CII
• Managing Committee Member of Hotels & Restaurant Association of Eastern India

These roles underscore Dewan's active involvement in shaping policies and practices within the hospitality industry, particularly in Eastern India.

Looking Ahead

As Apeejay Surrendra Park Hotels Limited prepares for its 37th AGM, scheduled for September 26, 2025, as per the recent LODR data, the re-appointment of Vijay Dewan signals a continuation of the company's current leadership strategy. Shareholders and industry observers will likely be watching closely to see how Dewan's extended tenure will contribute to the company's growth and performance in the coming years.

The hospitality sector, which has faced significant challenges in recent times, may benefit from experienced leadership as it navigates the post-pandemic landscape. Dewan's long-standing experience with the company and his broader industry roles position him well to guide Apeejay Surrendra Park Hotels through the evolving market conditions.

As the company moves forward, stakeholders will be keen to see how Dewan's leadership will drive innovation, expansion, and financial performance in the competitive hospitality market.

Apeejay Surrendra Park Hotels has demonstrated a remarkable turnaround in its financial performance for the first quarter, showcasing significant improvements across key metrics.

Financial Highlights

The company reported a net profit of 134.00 million rupees, marking a substantial recovery from a loss of 19.00 million rupees in the corresponding period last year. This impressive shift from loss to profit underscores the company's effective strategies and improved market conditions.

Revenue Growth

Apeejay Surrendra Park Hotels witnessed a notable increase in revenue, which grew to 1,500.00 million rupees from 1,350.00 million rupees year-over-year. This 11.11% growth in revenue indicates a strong rebound in the hospitality sector and the company's ability to capitalize on the improving market dynamics.

EBITDA Performance

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also showed significant improvement:

The EBITDA increased from 390.00 million rupees to 460.00 million rupees, representing a robust growth of 17.95%. This growth outpaced the revenue increase, suggesting improved operational efficiency.

Margin Improvement

Notably, the EBITDA margin also saw an enhancement, rising to 29.87% from 28.89% in the previous year. This 0.98 percentage point improvement in margin reflects the company's ability to manage costs effectively while driving revenue growth.

The strong quarterly performance of Apeejay Surrendra Park Hotels demonstrates the company's resilience and ability to navigate challenges in the hospitality industry. The significant turnaround from loss to profit, coupled with revenue growth and margin improvement, positions the company well for continued success in the coming quarters.