Not sure about the growth story in this stock.
Last 3 years sales and profit is almost flat.

During a period when the overall global economic scenario continued to be depressing and where every corporate customer undertook severe belt-tightening measures, ITH through aggressive efforts at new customer acquisition, retention of existing clients through outstanding service quality, and a tight control over expenses has managed to show impressive growth and demonstrated its resilience and competitive strength.

“It has not been an easy year” said Jehangir Ghadiali, Managing Director ITH, “Our team has had to work really hard in the face of immense competition and severe cutbacks on travel budgets by our regular customers. Finally our professionalism and dedication to customer service won the day and we have closed the year with a significant growth in our bottom line.”

Going forward the company has lined up significant investments in the areas of technology; international alliances and marketing to further enlarge its customer base. Talking of future prospects, Ghadiali said, “The steps we have taken over the last many months have begun to bear fruit. I expect the next year’s performance and growth to be even better.”
        It is pertinent to note that the world economy including world renowned banks and financial Institutions were tumbling during the past two years.No wonder if the travel and tourism are adversely effected.The company, however, could maintain the sales and profits without getting into losses.The sales during the current year have gone up by 38%.

        Hotels and tourism and travel are interdependent.Since a large number of tourists getting into ITC HOTELS avail themselves of the services of ITHL, it should not be construed to be getting the majority of its revenues from ITC. Infact, the pricing of its products depends on its costs of operation and on the prices offered by its competitors and not on the reason of its getting business from ITC/ITC HOTELS.

Please go through the website www.travelhouseindia.com for the services it offers and a detailed view of its annual report2009. It has  also entered the ISRAIL market. The shares are only listed in BSE.

The scrip touched a high of 219 during the past week.