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Tag: Ramesh Ramanathan

  • Vikram Lalvani appointed as Sterling Holidays MD & CEO

    Vikram Lalvani appointed as Sterling Holidays MD & CEO

    Mumbai: Leisure hospitality brand Sterling Holiday Resorts on Monday announced the appointment of Vikram Lalvani as the new managing director and CEO of the company, effective 1 April.

    After seven years of overseeing various strategic responsibilities at Sterling, which included – customer engagement, revenue maximisation, hotel sales and resort operations, Lalvani succeeds Ramesh Ramanathan, who will now continue to guide the company as its chairman.

    As CMD for Sterling since 2011, Ramesh Ramanathan has been instrumental in steering the company’s turn-around and making it profitable and establishing the Sterling brand in the Leisure Holiday space, said the company in a statement. “Over the past decade, Sterling has expanded its footprint from 10 resorts to over 38 resorts with over 2,500 rooms, spread across hills, beaches, jungles, rivers, heritage, pilgrimage and drive-to locations pan-India,” it added.

    “I am extremely pleased with the appointment of Vikram to lead Sterling towards newer avenues. I look forward to working with him toward our common vision of making Sterling the top leisure hospitality brand in India,” said Ramesh Ramanathan. “On behalf of the board and the team, we are confident that Vikram’s vast experience in the hospitality industry will be a huge advantage for us. His energy, passion and eye for detail will also boost the team in delivering exceptional services and make Sterling the preferred brand for our guests. I congratulate him and wish him all the best for his next chapter.”

    In his previous role as COO, of Sterling Holidays, Lalvani has been responsible for strengthening the preferred partners’ network, launching new revenue-focused projects, and spearheading the expansion plans across the country which now includes 38 plus resorts in operation and many more in the pipeline, according to the company.

    Commenting on his new role, Lalvani said, “I am honored to be given this responsibility. We will continue on the growth path set for us and drive to double our inventory and footprint to over 5,000+ rooms by 2025. With focus on digitisation, we will bring innovation in services for our guests and create a unique place for Sterling in the leisure space. I look forward to further strengthening the brand and building market leadership in the coming years.”

    Lalvani has over 25 years of leadership experience in hospitality, leisure and ITeS industries with proven expertise in revenue maximisation and technology solutions. In the past, he has held crucial positions in companies such as The Indian Hotels and Sutherland Global Services.

  • FY-2015: Sterling Holiday Resorts Sales Promo spend up 4.1%

    FY-2015: Sterling Holiday Resorts Sales Promo spend up 4.1%

    BENGALURU: Sterling Holiday Resorts (India) Limited (Sterling Holidays) reported Sales Promotion spend (Sales Promo) in FY-2015 (year ended 31 March, 2015) at Rs 17.16 crore (10.2 per cent of net sales), which was 4.1 per cent more than the Rs 16.48 crore (12.5 per cent of nets sales) in the previous year. Sales Promo spends in Q4-2015 (quarter ended 31 March, 2015) at Rs 5.71 crore (13.6 per cent of net sales) was more than double (2.6 times) the Rs 2.19 crore (eight per cent of net sales) in Q4-2014 and 26.9 per cent more than the Rs 4.5 crore (9.8 per cent of net sales) in the immediate trailing quarter.

    Note: 100,00,000 = 100 lakh = 10 million = 1 crore

    Please refer to Fig 1 below. During the 13 quarter period starting Q4-2012 until the current quarter, sales promo spends show a linear increasing trend in terms of absolute rupees as is indicated by the broken maroon trend line. However, in terms of percentage of net sales, the linear trend is reducing, as demonstrated by the broken green trend line. The company’s highest sales promo spends in terms of absolute rupees , whilas in the current quarter in terms of percentage of net sales was it in Q2-2013 at 21.7 per cent (Rs 5.10 crore) of net sales.

    Sterling Holidays net sales in FY-2015 at Rs 168.05 crore was 27.4 per cent more than the Rs 131.89 crore in FY-2014. The company’s net sales in Q4-2015 at Rs 42.1 crore was 13.4 per cent more than the Rs 37.11 crore in the corresponding year ago quarter, but was 7.8 per cent lower than the Rs 45.67 crore in Q3-2015. The company’s net sales show a linear increasing trend during the period under consideration as indicated by the black broken trend line. 

    Until the current financial year, Sterling Holidays has in general been a loss making company. Please refer to Fig 2 above. However, for FY-2015, the company has reported a profit after tax (PAT) of Rs 0.52 crore (0.3 per cent of net sales) as compared to a loss of Rs 21.29 crore in the previous year. For Q4-2015, the company has reported PAT of Rs 2.35 crore (5.6 per cent of net sales) as compared to a loss of Rs 5.78 crore in Q4-2014 and a PAT of Rs 0.82 crore (1.8 per cent of nets sales) in Q3-2015.

    Sterling Holidays managing director Ramesh Ramanathan said, “FY-2015 performance speaks for itself. As should the year-on-year improved performance metrics over the last 3 to 4 years. We have begun FY-2016 with a strong, confident note by opening four new resorts in one go at Corbett, Daman, Shirdi and Dindi. Sterling is now in a position to offer varying holiday experiences – from hillside to riverside to spiritual beach and wildlife in 24 resorts across India.”

    With effect from 3 September, 2014, Sterling Holidays has become a wholly owned subsidiary of Thomas Cook Insurances Services (India) Limited – (TCISL). As at 31 December, 2015, Thomas Cook (India) Limited through its subsidiaries hold 55.07 per cent of the equity shareholding of the company.

  • Sterling Holiday Resorts sales promo spends down 24 per cent in Q4-2014

    Sterling Holiday Resorts sales promo spends down 24 per cent in Q4-2014

    BENGALURU: Sterling Holiday Resorts (India) Limited (Sterling Holidays) sales promotion spend (Sales Promo) Q4-2014 at Rs 2.194 crore (5.91 per cent of net sales) was (-23.99) per cent less than the Rs 2.8866 crore (8.40 per cent of net sales) in the immediate trailing quarter Q3-2014 and (-17.04) per cent less than the Rs 2.6448 crore (9.39 per cent of net sales) of the year ago quarter Q4-2013.

    Note: Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million

    Over nine quarters starting from Q4-2012 until Q4-2014, Sterling Holiday’s sales promo spend shows a slight downward trend in terms on absolute rupee value, but the drop is much steeper in terms of sales promo as percentage of net sales.

    Overall, the company’s net sales show an upward trend and in Q4-2014 at Rs 37.11 crore was 7.98 per cent more than the Rs 34.37 crore in Q3-2014 and was 31.70 per cent more than the Rs 28.18 crore in Q4-2013. Please refer to Fig 1 below.

    Over three years starting FY-2012 until FY-2014, Sterling Holidays sales promo spend at Rs 16.48 crore and 12.50 per cent of net sales was 32.90 per cent more than the Rs 12.40 crore (11.40 per cent of net sales) in FY-2013. The company’s net sales in FY-2014 at Rs 131.89 crore was 21.28 per cent more than the Rs 108.75 crore in FY-2013. Please refer to Fig 1A below

    The company has in general been a loss making company. Please refer to Fig 2 below. With a new tie up with Thomas Cook International Limited expected to be completed by the end of this year, the company expects to turn the corner.

    Sterling Holidays says that the significant improvement in the company’s performance in the year is an indicator of the strong resurgence of brand Sterling, a result of the strategic turnaround initiatives over the last couple of years.

    It says further that the substantial investments the company made in enhancing the overall customer holiday experience through refurbishment of its resorts and an expanded menu of recreational and culinary experiences have resulted in a healthy rise in the number of Vacation Ownership members and non-members holidaying at the company’s resorts, leading to an increase in resort occupancy to 49 per cent from 41 per cent in the previous year.

    Sterling Holidays managing director Ramesh Ramanathan said, “The company’s performance has been improving consistently over the last couple of years. The synergies with Thomas Cook with their wide reach and distribution in the travel space will help us strengthen our market position, increase our occupancy levels and allow expansion to new destinations and markets.”

    completed by the end of this year, the company expects to turn the corner.