Howard Hotels Ltd - Stock Valuation and Financial Performance

Howard Hotels was incorporated as a private limited company on December 11, 1989 by S. R. Narula and Sandeep Narula with an object of setting up a Three Star hotel at Fatehabad Road, Agra. The company was subsequently converted into a Public Limited Company on January 21, 1994.

Howard Hotels owns and operates hotels in India. The company is based in New Delhi, India. The company operates as a subsidiary of Howard Group.

The company owns and operates the Howard Park Plaza International in Agra, Uttar Pradesh. This 5-star, 83-room, luxury hotel is managed by the Sarovar Park Plaza in agreement with the company. Sarovar Park Plaza, which has a tie-up with the California-based multinational giant Park Plaza Hotels & Resorts, will make available information and provide technical know-how and expertise for the upgradation and operation of the hotel on agreed profit-sharing percentage.

Initially the company was engaged in acquiring land, construction of Hotel building and placing various orders of plant and machinery required for the Hotel. In the year 1990 the company acquired about 2700 Sq.mtr. of land at Mustkil Tajganj, Fatehabad Road, Agra. The building plans were approved by the Agra Development authority and collector in 1991 and company was awarded the building civil work and other related work in 1992. The company finalized the various plant and machinery orders in 1993 and entered into an affiliation agreement with Best Western International Inc. and also got his project appraised by the PICUP. 

Business areas of the company:

The company was established to carry on the business of hotels, rest houses, guest houses, holiday resorts, restaurants, coffee houses, recreation rooms, bars taverns, lodging-house keeping, inn owners, boathouses, shikara, holiday-hut business and game room owners.

To carry on business of professional caterers, bakers, confectioners, cooks, wine and beer merchants, ice cream vendors, pastry shop owners, spirit merchants, distillers, brewers, importers and manufacturers of aerated minerals and artificial waters and such other drinks, of all types purveyors and licensed victuallers. 

To purchase, take on lease, hire, erect of otherwise acquire, establish and equip and to act as technicians of any other such hotels, motels, holiday camps, restaurants, canteens, cafes, pubs, bars, refreshment rooms, and casinos in India or in any other part of the world. 

To act as agents of any hotel company or as buying or selling agents of any hotel company, and to do and perform all duties, services, and offices which the agents of any hotel company usually do and perform and undertake and to become bound by conditions of any agreement entered into for any of the purposes aforesaid. 

To promote, organize and operate all tourist activities such as independent and conducted tours, adventures, expeditions, safaris, conferences, meetings and such other group movements both in India and outside India by road, rail, air, sea or otherwise.