Advani Hotels & Resorts (India) Share Price

Incorporated in Jul.'87, Ramada Hotels (India) now renamed Advani Hotels and Resorts, was promoted by S G Advani and H G Advani, both with considerable background in management and the hotel industry. The company is into the hotel business and related activities and has a technical and financial collaboration with Ramada, UK. The company came out with a public issue in Sep.'89 for its maiden venture -- Ramada Resort -- a five-star luxury resort comprising 140 rooms (including 6 villas) in a terraced-garden pattern at Colva beach, Goa. By virtue of the franchise agreement with Ramada, UK, the collaborators provide substantial assistance in marketing, and defining strategies for advertising and promotion. The company is also linked to Ramada's computerised reservation system worldwide. During 1995-96, a complex consisting of the flight kitchen, restuarant and bar was inaugurated next to the airport in Goa. It commenced commercial operation in Apr.'96. The company's project at Jaipur has not yet been cleared by the government and the Goa Fort continues to be a complicated legal affair with our company obtaining a stay against retendering of the same. During the year 1999-2000, the company has a formed a joint venture company i.e. Advani Plasure Cruise Co. Pvt. Ltd., in collaboration with CIA Casinoinvest International International GMBH Austria to carry on the business of casino on board a pleasure cruise in and around Goa. The company is proposed to invest Rs.500 lakhs in the joint venture. The Pleasure Cruise Ship,with India's only full fledged Casino on Board,started operations on 17.02.2001.