Country Club Hospitality Ltd has monetised a surplus non-core asset in Maharashtra for Rs 4.5 crore. The proceeds would be utilised to reduce the company debt.
According to a regulatory filing, the company is actively looking at monetising non-core assets to the tune of Rs 100 crore as a part of the overall strategy to reduce the company debt.
The Hyderabad-based leisure and hospitality chain has announced that it has implemented a price increase of about 15 per cent in its membership cages with immediate effect. The company sees the move would result in increased revenue and improved margins.