Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Environmental Achievements

• Energy Conservation, sustainability and efforts to make the properties more “Green” have been the main drive throughout the year. Major efforts/steps taken towards this are: used/retrofitted extensively in all hotels, has reduced electrical consumption. Improved power consumption control. Energy-saving devices in rooms during non-occupancy. Water and energy saving initiatives implemented at four hotels. 23 windmills producing renewable energy for use in own hotels.
• The company's hotels in New Delhi and Chennai have been conferred Platinum LEED Certification.

Social Achievements

• The Leela Palaces, Hotels and Resorts have continued to build on its tradition of CSR programs designed to protect the environment and benefit underprivileged communities, especially children.
• Each property further strengthened partnerships with local NGOs for charitable donations, including, daily meals, clothing, shoes and books to underprivileged children.
• The Leela Mumbai implemented an innovative soap-recycling educational program in partnership with the Sundara foundation.

Governance Achievements

• The Board places on record its appreciation for the valuable services rendered by Ms. K. Hemalatha, Mr. V. P. Shetty, Mr. Anil R. Bhatia, Mr. Navnit Kulwantsigh Batheja, Mr. Ashok G. Rajani, Mr. Vijay Amritraj and Mr. Shereveer S. Vakil during their respective tenure as Directors of the Company.
• The Company has formulated and adopted the Nomination and Remuneration Policy in accordance with the provisions of Companies Act, 2013 read with the Rules issued thereunder and the Listing Regulations.

Climate Goals & Targets

Environmental Challenges

• The Company has defaulted in payment of installments towards redemption of principal amounts due on Secured Redeemable Non-Convertible Debentures and also defaulted in payment of interest on the aforesaid Debentures.
• The Company’s operating cash flows are not sufficient to service its term loans and NCDs and the funds of the Company are escrowed with its lenders and the inflows and outflows are also monitored by the lenders.
• The Company has been finding it difficult to get new Independent Directors, as the default and disqualification continues.
• High GST is penalizing the industry and concept of published rate as criteria to determine the GST rate is not helping the industry at all. High GST has started to divert domestic leisure and MICE demand overseas.
• The Company’s gearing has reached high levels due to the investments made in the new hotels in Udaipur, Delhi and Chennai and plots of land at Agra, Hyderabad and Pune. Because of the recession thereafter in the Hotel Industry, the expected profitability estimates could not be achieved.

Mitigation Strategies

• The Company is pursuing with LIC for Debt restructuring.
• The Company sold its Goa hotel in December 2015 for ` 721.12 crores and the entire net proceeds were used for debt reduction.
• The Company has received ` 48.19 crores till 31st March, 2018 from the joint development of residences in Bengaluru and used the same for debt reduction.
• The Company is in the process of selling one more hotel or alternatively getting equity from a strategic investor for reduction of debt.
• The Company will continue to pursue for a viable debt restructuring package.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: Ind AS

Certifications: LEED Platinum (New Delhi and Chennai hotels)

Awards & Recognition

• TripAdvisor awards
• Hotelier India Awards
• India Nightlife Conventions & Awards
• FHW Bengaluru Restaurant Awards Honours
• Times Food and Night Life Awards
• BW Hotelier India Awards 2018
• Conde Nast Traveller Top 50 Restaurant Awards
• World HRD Congress Awards
• Eazy Diner Foodie Awards 2017
• The Food Food Top 100 Awards 2017
• Times Food and Nightlife Awards 2017
• Wine Spectator Award of Excellence 2017
• 2017 MakeMyTrip HOSI Hotels of the Year Awards
• Kerala Tourism Award
• Big F Awards
• Travel + Leisure India’s Best Awards 2017
• Times Influence National Marketing Excellence Awards
• Today’s Traveller Awards
• Globe Luxurie Decode Dubai
• Hospitality India and Explore the World – Annual International Travel Awards 2017
• India Hospitality Awards
• Nearbuy - The Golden Circle Awards