Sterling Holiday Resorts reports 48% growth

Sterling Holiday Resorts (India) Limited (STERLINH), India's leading Vacation Ownership & Leisure Hospitality company, on Wednesday announced its results for the quarter ending December 2011.

The quarterly Total Operating Income of the Company was reported at INR 18.06 crores, as compared to INR 12.19 crores for the same period last year, representing a 48% growth in revenues.

Total Income from sales of Vacation Ownership Plans was INR 9.35 crores, as against INR 3.47 crores for the same period last year - an increase of 169%.

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The company's Sales Operations has been expanding rapidly, adding Mumbai, Delhi, Chandigarh & Lucknow in Q3 alone. The company plans to continue its market expansion by opening up more sales territories.

Q3 also saw the Company add 3 new resorts to its portfolio - Woods n Spice in Thekkady, Emerald Bay in Karwar and a second resort in Goa (Villagio). In addition, it is in the process of negotiating to add more resort destinations to its footprint.

Ramesh Ramanathan, Managing Director, Sterling Holidays said: "The Q3 vacation ownership sales has shown encouraging results in all new markets and existing locations. The growth in Vacation Ownership is a strong indicator of the continued faith in the brand as well as an outcome of the growth strategies adopted."