Standalone RevPAR Growth
12%
+12% YoY
Industry-leading RevPAR growth in Q4 FY26 on standalone portfolio.
INDIANHOTELS
Diversified
13 May 2026
Indian Hotels Company Ltd — Q4 FY26
IHCL delivered a strong Q4 FY26 with consolidated revenue of ₹2,845 crore (+14% YoY) and EBITDA margin of 37%.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
IHCL delivered a strong Q4 FY26 with consolidated revenue of ₹2,845 crore (+14% YoY) and EBITDA margin of 37%. PAT grew 14% to ₹600 crore. The quarter was impacted by ~₹40-50 crore revenue loss from West Asia conflict, but domestic demand remained resilient. Standalone RevPAR grew 12% YoY, with margin expansion of 160bps to 49.5%. Management guided for FY27 revenue growth of 12-14%, driven by 60+ hotel openings, acquisitions contributing ₹250 crore incremental revenue, and like-for-like RevPAR growth of 7-9%. New businesses (Ginger, Qmin, Ama) grew 25% in FY26. Key risk: prolonged geopolitical tensions could further suppress international travel and delay recovery.
Key Numbers
New Businesses Revenue Growth
25%
+25% YoY
New vertical (Ginger, Qmin, Ama, Tree of Life) grew 25% in FY26 to ₹753 crore.
Hotel Openings Guidance FY27
60+
N/A
Management expects to open over 60 hotels in FY27 across brands.
Ginger Portfolio Target FY27
250 hotels
N/A
Ginger brand to have 250 hotels (operating + pipeline) by end of FY27.
Management Guidance
FY27 revenue growth of 12-14%
Management expects double-digit revenue growth for FY27, with 12-14% growth driven by like-for-like and new businesses.
Management guidance revenue60+ hotel openings in FY27
IHCL plans to open over 60 hotels across brands and geographies in FY27.
Management guidance expansionIncremental revenue of ₹250 crore from acquisitions
Recent acquisitions (including ANK Pride) are expected to contribute over ₹250 crore in incremental revenue in FY27.
Management guidance revenueGinger portfolio to reach 250 hotels by FY27-end
Ginger brand is expected to have a total portfolio of 250 hotels (operating and under development) by end of FY27.
Management guidance expansionKey Risks
Prolonged West Asia conflict
Geopolitical tensions have already caused revenue loss of ₹40-50 crore in Q4 and could continue to suppress international travel and MICE business.
high · management_commentarySlowdown in foreign tourist arrivals
Foreign tourist arrivals remain below pre-COVID levels, and the trend may persist, limiting upside from international demand.
medium · analyst_questionImpact of crude oil volatility on aviation costs
Rising crude prices could increase airfare, potentially dampening travel demand, though management sees this as manageable.
medium · analyst_questionExecution risk in hotel openings
While guidance is for 60+ openings, actual numbers may vary due to delays; management acknowledged potential shortfall of ~500 keys.
low · data_observationNotable Quotes
Dubai is down, Maldives is down, London is okay and domestic is very strong.
The foreign tourist arrivals remains a hidden upside in perpetuity. We are all waiting for it but one day it will come and it will come by leaps and bounds.
Every crisis is an opportunity. Some of the brands that you hear today were created in the worst crisis where everything came to a halt.
Frequently Asked Questions
What was Indian Hotels's revenue in Q4 FY26?
Indian Hotels reported revenue of ₹2,845 Cr in Q4 FY26, representing a +14% change compared to the same quarter last year.
What guidance did Indian Hotels management give for FY27?
FY27 revenue growth of 12-14%: Management expects double-digit revenue growth for FY27, with 12-14% growth driven by like-for-like and new businesses. 60+ hotel openings in FY27: IHCL plans to open over 60 hotels across brands and geographies in FY27. Incremental revenue of ₹250 crore from acquisitions: Recent acquisitions (including ANK Pride) are expected to contribute over ₹250 crore in incremental revenue in FY27. Ginger portfolio to reach 250 hotels by FY27-end: Ginger brand is expected to have a total portfolio of 250 hotels (operating and under development) by end of FY27.
What are the key risks for Indian Hotels in FY27?
Key risks include Prolonged West Asia conflict — Geopolitical tensions have already caused revenue loss of ₹40-50 crore in Q4 and could continue to suppress international travel and MICE business.; Slowdown in foreign tourist arrivals — Foreign tourist arrivals remain below pre-COVID levels, and the trend may persist, limiting upside from international demand.; Impact of crude oil volatility on aviation costs — Rising crude prices could increase airfare, potentially dampening travel demand, though management sees this as manageable.; Execution risk in hotel openings — While guidance is for 60+ openings, actual numbers may vary due to delays; management acknowledged potential shortfall of ~500 keys..
Did Indian Hotels meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Indian Hotels Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.