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Prolonged West Asia conflict
View Risks →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%.
bullish
high
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2-Minute Summary
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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.
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Standalone RevPAR Growth
12%
+12% YoY
Industry-leading RevPAR growth in Q4 FY26 on standalone portfolio.
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.
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Guidance and risk preview
Management expects double-digit revenue growth for FY27, with 12-14% growth driven by like-for-like and new businesses.
Geopolitical tensions have already caused revenue loss of ₹40-50 crore in Q4 and could continue to suppress international travel and MICE business.
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