The 5-year analysis of Royale Manor Hotels & Industries Ltd's performance infers:
We analysed the performance of Royale Manor Hotels & Industries Ltd share prices over the last 10 years. Here is what we found out:
Royale Manor Hotels and Industries was incorporated in the year 1991 as Royal Manor Hotels Limited in the state of Gujarat at Ahmedabad. The name was subsequently changed to Royale Manor Hotels and Industries Limited on November 1; 1991. It is a Gujarat-based company.
The company was established for the purpose of putting up hotel projects in India and the first project for a five star hotel is conceived at Ahmedabad, Gujarat under the brand name of `Taj Residency Ummedâ€™. It has now
The company was established for the purpose of putting up hotel projects in India and the first project for a five star hotel is conceived at Ahmedabad, Gujarat under the brand name of `Taj Residency Ummedâ€™. It has now been as 'The Gateway Hotel, Ummed Ahmedabad' as part of the launch of a new brand by Indian Hotels Company Limited. The service and facility to the customers would continue to maintain same standards with further improvement and better satisfaction.
The project was assisted by the Industrial Development Bank (IDBI) of India and the Tourism Finance Corporation of India (TFCI). IDBI has sanctioned a term loan of Rs. 607 lakh and TFCI has sanctioned a term loan of Rs.450 lakh for the project. The five star hotel is being set up in technical collaboration with the East India Hotels Limited, the flagship company of the Oberois.
The company`s board on April 3, 2006 decided to withdraw the supposedly, proposed amalgamation of Shore Products Ltd with the company. The company on January 15, 2007 had signed a signed a Memorandum of Understanding (MOU) with the Tourism Corporation of Gujarat Ltd. for a new project and expansion of its existing property with an investment of Rs 1.3 billion.
The company decided to get itself delisted from Ahmedabad Stock Exchange in at its meeting held on August 28, 2009.