International Travel House Ltd share Price

International Travel House, a part of ITC group is one of India`s leading travel management company. It was originally incorporated as Indian Exploration Pvt Ltd in 1981 and acquired it`s present name in 1992. It offers a range of services related to travel and tourism with offices in all the Indian metros plus Ahmedabad and Pune. The company`s activities include international and domestic air ticketing, hotel bookings, conference management services, conducting in-bound tours, forwarding cargo/freight, rent-a-car, etc. The company is recognised by the Department of Tourism, Government of India, and is also approved by Indian Airlines and International Air Transport Association. It signed a MoU with Rosenbluth International Alliance, US, for cross-reference of business and client servicing. Citibank has entered into an agreement with the company for sale of Citicorp travellers cheques and Visa traveller cheques. The company is computerising its operations, and setting up E-mail link-ups and on-line computer reservation facilities throughout its branch network. It is also expanding its travel and domestic network and is setting up golf courses and resorts of international standards in the country. The company through its subsidiary M/s Vins Overseas India Ltd, is in a leading position in the branded transport segment. In 1996-97 it has launched yet another branded car rental product in India - the Mercedes Drive - to cater to the needs of a very upmarket traveller segment. In 1997-98, the company has entered into a Joint venture with ABN Amro Lease Holding N.V, in the vehicle leasing and fleet management business. The company has already received the necessary government approvals required for this purpose. Landbase India Ltd along with it`s eight subsidiary were ceased to be the subsidiary of ITHL effective from Sep 9, 2000 consequent to the divestment of ITHL`s entire 70% stake in Landbase India Ltd to ITC Ltd. This is in line with ITHL`s policy of divest from non-travel business. In 2000-01, ITHL decided to amalgamate Vins Overseas India Ltd and International Travel House Exploration Ltd with the company and it was approved by the members and creditors in their meeting. In this respect a petition was filed in the H`ble High Court of Delhi for it`s approval of the said scheme of Amalgamation. ITHL has received the prestigious ISO 9002 certificate for all it`s services in 2000-01. Apart from this the company has also recieved the National Tourism Award for highest foreign exchange earnings in the category of Rs.1 crore to 2 crores. This year the company recieved the master franchise for North India from M/s Gray Line Corporation of USA for operating the exclusive international brand of Gray Line Tours.