Shiv Kumar Jatia-promoted Asian Hotels (North) fears significant reduction in its enterprise value, owing to the hospitality sector’s subdued performance.

The company's net profit for the nine months period concluded March 31, 2010 was Rs 14.74 crore, it said in a filing to the Bombay Stock Exchange.

Asian Hotels (North) is trading 3% higher at Rs 326 after the company decided to participate in a joint venture in an overseas company. The investee company is in the business of hospitality consulting services and holds investment in hospitality sector.

Asian Hotels (West) today listed at Rs 242 on the Bombay Stock Exchange.

Delhi-based Asian Hotels (West), one of the three demerged entities of Asian Hotels, has sold a substantial stake in its subsidiary, Aria Hotels and Consultancy Services, to private equity investor IL&FS for Rs 80 crore.