CARE reaffirms rating of Dolphin Hotels’ bank facilities

Credit rating agency, CARE has reaffirmed ‘BBB’ rating to long term bank facilities worth Rs 5.94 crore of Dolphin Hotels.

The rating continues to factor in experienced and strong promoters, growth in occupancy rates and average room rentals (ARRs) during FY11 as compared to FY10, comfortable capital structure of the company, importance of the company’s properties to Ramoji film city and growth prospects for tourism industry in India.

At present, the company owns and runs four hotels and four theme based restaurants. The company also owns a villa and seven guest houses. Except the hotel at Visakapatnam, all other properties are located in Ramoji Film City near Hyderabad.