Polo Hotels Share Price

Incorporated in Jan.'84 as Polo Estates Hotels and Investments Pvt Ltd, Polo Hotels was converted into a public limited company in 1989 after which it acquired the present name. The company is engaged in the business of setting up and running hotels and restaurants. It shifted its registered office from Shimla, Himachal Pradesh to Haryana, in 1993. The company was promoted by Vikas Paul Garg, V K Garg and associates. The Haryana State Industrial Development Corporation is also participating in the equity. Algastrek India, Trans Asia Tubes & Industries and Trans Asia Hotels are its group companies. The company came out with a public issue in Oct.'94 to set up North Park, a three star resort hotel, at Panchkula, Haryana, with 43 rooms, restaurant, banquet hall, coffee shop, shopping arcade and recreational/health facilities. In Jun.'94, Polo Hotels entered into an international and domestic franchise marketing and management support services agreement with Quality Inns India Pvt Ltd (QIIPL). QIIPL holds Choice Hotel International's -- the third largest hotel chain in the world -- franchise rights in India. QIIPL provides technical expertise for efficient hotel operation.