Open 20+ hotels in FY24
IHCL expects to open more than 20 hotels in the current financial year, with 11 signed and 5 opened in Q1.
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The Indian Hotels Company · forward-looking guidance across the available source record.
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expansion
Double-digit RevPAR growth for FY24
Management expects double-digit RevPAR growth for the full year, supported by events and demand-supply dynamics.
Ginger Santa Cruz opening in Q3 FY24
The flagship Ginger hotel at Santa Cruz, Mumbai, is expected to open between October and November 2023.
Double-digit revenue growth for FY25
IHCL expects double-digit top-line growth for the full financial year, excluding Taj SATS consolidation.
25 hotel openings in FY25
The company targets opening 25 hotels in FY2025, with 7 already opened in Q1 and early Q2.
New businesses to grow over 30%
Ginger, Qmin, and amã Stays & Trails are expected to continue growing at over 30% annually.
Gateway brand to scale to 100 hotels by 2030
The reimagined Gateway brand will launch in Q2 with 15 hotels, aiming for 100 hotels by 2030.
Double-digit revenue growth for FY26
Management is extremely confident of delivering double-digit revenue growth for the hotel segment for the full year, despite temporary headwinds.
30+ hotel openings in FY26
IHCL is on track to open 30-plus new hotels this fiscal year, with momentum accelerating from September 2025.
20% top-line growth in airline catering business
Despite airline sector turbulence, management is confident of delivering 20% top-line growth in the airline catering business for the year.
CapEx of INR 1,200 crore in FY26
IHCL expects to invest INR 1,200 crore in FY26 for assets under construction, renovations, expansions, and digital initiatives.
Open minimum 20 hotels in FY24
IHCL has already opened 9 hotels YTD and signed 18; management reaffirms guidance to open at least 20 hotels this fiscal year.
Ginger Santa Cruz to reach INR 100 crore revenue in 3 years
The flagship Ginger property near Mumbai Airport is expected to generate INR 100 crore in annual revenue within three years of stabilization.
TajSATS revenue to exceed INR 1,000 crore next fiscal
Management expects TajSATS revenue to cross INR 1,000 crore in FY25, driven by airline catering and non-aviation growth.
Q3 FY24 growth likely higher than last year
Based on strong October performance and business on the books, management expects Q3 YoY growth to be similar or higher than last year.
Double-digit revenue growth for FY25
Management expects to comfortably deliver double-digit revenue growth for the full year, even excluding TajSATS, with H1 already at 11%.
Open 25 hotels in FY25, 30 in FY26
IHCL targets opening 25 hotels in the current financial year and 30 in the next, with a pipeline of ~120 hotels.
CapEx of INR 700-800 crore for FY25
Capital expenditure for FY25 is guided at INR 700-800 crore, with H1 CapEx of INR 344 crore.
Gateway brand to scale to 100 hotels by 2030
The relaunched Gateway brand, currently with 22 hotels, is expected to scale to 100 hotels by 2030.
Double-digit revenue growth for FY26
IHCL remains confident of achieving double-digit revenue growth for the full year, driven by structural tailwinds and strong H2 outlook.
30+ new hotel openings in FY26
The company is on track to open over 30 new hotels in the current fiscal year, with 26 already opened in H1.
Clarks transaction closure in Q3
The Clarks transaction is expected to close within the current quarter (Q3 FY26), adding 135 hotels to the portfolio.
CapEx of ₹1,000-1,200 crore for FY26
Capital expenditure for FY26 is guided at ₹1,000-1,200 crore, funded through internal accruals.
Double-digit revenue growth in FY25
Management expects overall revenue growth of double-digit next fiscal, driven by core business and new brands.
Open at least 20 hotels in FY24
16 hotels opened YTD; 4 more expected in Feb-Mar 2024, maintaining pace of ~2 hotels per month.
Ginger brand revenue to exceed INR 600 crore in FY25
Ginger brand expected to achieve over INR 600 crore in revenue next fiscal, driven by Lean Luxe transformation.
TajSATS revenue to cross INR 1,000 crore in FY25
TajSATS well positioned to cross INR 1,000 crore in revenue next fiscal, with industry-leading margins.
Q4 FY25 revenue and margin trends similar to Q3
Management expects Q4 to continue the same top-line growth and margin expansion as Q3, supported by events like Mahakumbh and Coldplay concerts.
Open 25 hotels in FY25, 30 hotels in FY26
IHCL is on track to open 25 hotels in the current financial year and has guided for 30 openings in the next financial year.
Double-digit revenue growth for FY25
Management reaffirmed guidance of double-digit revenue growth for the full year, despite Q1 headwinds from heat and elections.
50% renewable energy and 100% recycled water by 2030
IHCL targets 50% energy from renewable sources and 100% recycled water usage by 2030, currently at 37% and 48% respectively.
Double-digit revenue growth in FY26 and FY27
Management expects 12-14% consolidated revenue growth in Q4 and FY27, driven by like-for-like growth, 60+ openings, and acquisitions.
Management fee income growth in high teens
Management fee income expected to grow in high teens in FY27, supported by 60+ openings and sustained signings.
New business verticals (Ginger, Qmin, amã, Tree of Life) to grow 25%+
Ginger and new verticals expected to deliver 25%+ revenue growth, supported by integration benefits and scale efficiencies.
Taj Bandstand to contribute INR 1,000+ crore revenue at ~50% EBITDA margin
Upon stabilization (expected 3 years after completion), Taj Bandstand will contribute INR 1,000+ crore top line with ~50% EBITDA margin.
Double-digit revenue growth in FY25
Management expects consistent double-digit top-line growth, with average north of 10% for the year.
Open minimum 25 hotels in FY25
Target to open at least 25 hotels in the current fiscal year, up from 20 guided last year.
New businesses to grow over 30% in FY25
New business verticals (Ginger, Qmin, amã, etc.) expected to grow at over 30% in the next fiscal.
Gateway brand to scale to 100 hotels by 2030
Reimagined Gateway brand launched with 15 hotels; target to reach 100 hotels by 2030.
Double-digit revenue growth in FY2026
Management expects double-digit revenue growth for FY2025-26, supported by strong domestic demand, recovery in foreign arrivals, and over 70 auspicious wedding dates.
30+ hotel openings in FY2026
Target to open 30-plus hotels in FY2026, with only three on balance sheet, continuing the capital-light strategy.
CapEx of INR 1,200 crore+ in FY2026
Planned capital expenditure of over INR 1,200 crore, with 60-65% allocated to renovations and digital, and the rest to greenfield projects.
FY27 revenue growth of 12-14%
Management expects double-digit revenue growth in FY27, with 4-5% from new businesses and 7-9% like-for-like RevPAR growth.
60+ hotel openings in FY27
IHCL plans to open over 60 hotels across brands and geographies in FY27.
Incremental revenue of INR 250 crore from acquisitions
Recent acquisitions (Atmantan, ANK, Pride) expected to contribute over INR 250 crore in incremental revenue in FY27.
Ginger portfolio to reach 250 hotels by FY27 end
Ginger brand target of 250 hotels (operating + development) by end of FY27.