Country Club Hospitality & Holidays (CCHHL), a leading integrated leisure hospitality & holiday company, has successfully monetized a surplus non-core asset in Maharashtra for Rs 4.5 crore. The proceeds will be utilized for reducing debt. Further the company is actively looking to monetize non-core assets to the tune of Rs 1 billion as part of its overall strategy to reduce debt.
The company has also implemented a price increase with immediate effect of about 15% in the membership charges, which should result in increased revenue and improved margins.
In celebration of 25 year silver jubilee CCHHL has announced a loyalty reward for its esteem members in the form of ‘Gymkhana Pricing’ on its F&B services across all its locations, which has received good response. As a result of this strategy the company has already witnessed an increase in member footfalls to its properties, which is expected to translate to higher recurring F&B revenues and future membership revenues.
Country Club Hospitality & Holidays is the only listed integrated company in leisure hospitality and holiday business. Country Club offers its members, family holidays, fitness & recreational facilities and star-studded entertainment events.
