Inspiration Hlt Regulatory News (IHC)

9 Jan 2008 14:08

India Hospitality Corp.09 January 2008 For Immediate Release 9 January 2008 India Hospitality Corp. India Hospitality Corp. to Present at the Tenth Annual ICR XChange Conference New York, NY - January 9, 2008 - India Hospitality Corp. (LSE: IHC, IHC or IndiaHospitality), today announced that the Company will be presenting at the TenthAnnual ICR XChange Conference on Thursday, January 17, 2008 at the St. RegisMonarch Beach Resort & Spa in Dana Point, CA. The presentation will begin at 1:50 PM Pacific Time. Investors and interested parties may listen to the webcast of this presentationby visiting the Company's website at www.indiahospitalitycorp.com under theinvestor relations section at the appropriate time. About India Hospitality Corp. In August 2006, India Hospitality Corp. raised US $103 million in an IPO andprivate placement and is listed on AIM, a market operated by London StockExchange plc, under the ticker IHC. IHC was originally created as a blank checkcompany and was sponsored and advised by Hayground Cove Asset Management LLC, aNew York-based investment management firm. In July 2007, IHC closed on the acquisition from Navis Capital Partners and itsAffiliates of India-based Mars Restaurants Private Limited ("Mars"), an emerginghotel and restaurant company, and SkyGourmet Catering Private Limited("SkyGourmet"), an airline catering company with 1,700 employees operating outof four locations in India. In December 2007, in order to fund strategic growth initiatives, Hayground Coveand Navis Capital jointly invested US $28 million of additional capital in IHC,bringing their total invested capital to US $56 million. Following suchreinvestment, Hayground Cove and Navis own approximately 52% of IndiaHospitality. IHC generated approximately US $30 million in unaudited consolidated revenues infiscal year ended March 31, 2007, an approximate 50% increase from 2006. About Mars and SkyGourmet Since its incorporation in 2000, Mars has diversified into bakery outlets andoperating and managing food courts and hotels. SkyGourmet was incorporated in2002 and is headquartered in Mumbai. SkyGourmet currently provides in-flightcatering services to a number of domestic and international airlines, includingJet Airways, Kingfisher Airlines, Air India Express, Indian Airlines, MalaysianAirlines and Air France. It has operations in Mumbai, Bangalore, New Delhi andPune. For further information, please contact: Investor Relations Contact: ICR Inc.William Schmitt203-682-8200 Media Contact: Buchanan CommunicationsRichard Darby, Isabel Podda+44 207 466 5000 Nominated Adviser and Broker: Deutsche BankMumtaz Naseem+44 20 7545 8000 Deutsche Bank is IHC's nominated adviser and broker for the purposes of the AIMRules for Companies. Its responsibilities as IHC's nominated adviser and brokerunder the AIM Rules for Nominated Advisers are owed solely to London StockExchange plc and not to IHC, any director of IHC or any other person. No offer or invitation to purchase or subscribe for ordinary shares in orwarrants to purchase or subscribe for ordinary shares or warrants of IHC isbeing made by this announcement. This information is provided by RNS The company news service from the London Stock Exchange This information is provided by RNS The company news service from the London Stock Exchange