Veeramani Venkata to Lead as New CFO of Benares Hotels
Our source informed us that Benares Hotels, a renowned subsidiary of the Tata Group, has announced the appointment of Veeramani Venkata as their new Chief Financial Officer (CFO). An industry veteran, Venkata, with an experience of over 30 years, has a robust background in the hospitality sector of business.
Venkata’s Extensive Experience
Venkata has established himself in reputable establishments worldwide. The new CFO’s tenure showcases his ability to adapt and flourish in diverse environments. Venkata’s vast experience will undoubtedly lend valuable insights and novel strategies to the ever-growing Benares Hotels.
The Financial Performance of Benares Hotels
Interestingly, this change in the executive team follows a dip in the share price of Benares Hotels. The closing figures were reported at Rs 8,902.65, reflecting a drop of 4.22%. However, a silver lining is seen when looking at significant growth from its 52-week low, with the numbers showing an impressive increase of 191.89%.
In terms of recent performance, our source reported that Benares Hotels recorded strong financial results for the third quarter of the fiscal 24. The hotel company recorded a significant increase in Profit After Tax (PAT) and saw a rise in revenue from its operations.
Benares Hotel’s Connection with The Tata Group
Benares Hotels became part of the significant Tata Group after The Indian Hotels Company Limited, backed by Tata Sons Private Limited, became its promoter in May 2011. This promotion helped the company branch out and open new hotel chains under the broader Indian Hotels banner.
Renowned Hotels of Benares
Known for its luxury and hospitality, Benares Hotels operates some of the most esteemed hotels. This includes, to name a few, Taj Ganges and Nadesar Palace in Varanasi, along with the Ginger Hotel in Gondia, Maharashtra.
An inside source emphasized the significance of these crucial changes. The performance of the company’s stocks and strategic executive appointments reflect the progress trajectory of Benares Hotels and its importance within the Tata Group’s portfolio.
