A profitable lift in CITCO in financial year

Chandigarh, 06th September 2016:- A Board meeting was held on 05.09.2016 in which the Final Accounts of CITCO for the financial year 2015-16 were tabled. The highlight of this meeting is that after incurring losses from 2012-13 onwards, for the first time, in financial year 2015-16, the Corporation has earned a net profit of Rs. 43.13 lacs after depreciation, which presents a turnaround from state of loss to achieving profit during the year.
Smt. Kavita Singh, IAS, Managing Director, CITCO after the Board Meeting congratulated all the members and said, “ The Corporation has attained profit this financial year with the efforts and hard work of each employee. The appreciations are well deserved and we would also ensure that in coming years the statistical graph of the finances of CITCO goes higher”. She further added that for achieving professionalism and motivating the staff for improving the services in the Hotels a new Manager (HRD) has also been appointed.
To garner more profitable business for the coming years, CITCO is shaping various efforts for a sustained growth. In order to achieve the constant growth a new marketing team is in place to market its hotels aggressively at the digital front and reach the online portals by giving competitive rates on the room rent. Also the Corporation is making efforts to tie-up with various Public Sector Banks/Multi National companies and various Institutes for getting confirmed business. As part of new initiative CITCO is also in the process of opening new outlets and ventures in the various parts of the City.