New keys added in FY26
260
+260 keys YoY
Approximately 260 keys were added across new properties in FY26.
KAMATHOTELSINDIA
Diversified
15 May 2026
Kamat Hotels India Ltd — Q4 FY26
Kamat Hotels reported a strong Q4 FY26 with consolidated revenue of ₹110 crore (+19% YoY) and EBITDA margin expanding 213 bps to 29%.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Kamat Hotels reported a strong Q4 FY26 with consolidated revenue of ₹110 crore (+19% YoY) and EBITDA margin expanding 213 bps to 29%. PAT surged 59% to ₹18 crore, driven by robust domestic demand and cost controls. However, the loss of the Orchid Mumbai lease (₹50 crore revenue) will pressure FY27 top line, though EBITDA impact is neutral to positive. New properties (260 keys added in FY26) are stabilizing and expected to contribute meaningfully in FY27. Management remains cautiously optimistic but flagged execution delays due to LPG shortages and rising labor costs from the new wage code. Key risk: slower-than-expected ramp-up of new hotels may not fully offset the Mumbai revenue gap.
Key Numbers
Occupancy rate (overall)
~65%
-5pp YoY
Occupancy declined due to new hotels ramping up; expected to improve in FY27.
ADR (overall)
~₹5,500
-3% YoY
ADR fell as new hotels with lower rates diluted the portfolio average.
Total debt
₹86 crore
-₹21 crore YoY
Debt reduced from ~₹107 crore; cash balance of ₹35-40 crore maintained.
Management Guidance
Bhavnagar hotel opening by June 2026
The Orchid Bhavnagar property is expected to open by June 2026, ahead of earlier estimates.
Management guidance expansion150-200 new keys in FY27
Management expects to operationalize 150-200 additional keys in FY27 based on current pipeline.
Management guidance expansionEBITDA margin improvement from new hotels
New hotels opened in FY26 are expected to stabilize and contribute positively to EBITDA in FY27, offsetting the Mumbai revenue loss.
Management guidance marginsKey Risks
Revenue gap from Orchid Mumbai closure
Loss of ~₹50 crore annual revenue from the Orchid Mumbai lease may not be fully replaced by new properties in FY27.
high · management_commentaryExecution delays due to LPG crisis
LPG shortages are causing material supply issues, delaying hotel renovations and new openings.
medium · management_commentaryRising labor costs from new wage code
Annual salary revisions under the new wage code added ~₹4 crore to costs, which are permanent and may pressure margins.
medium · analyst_questionSlow ramp-up of new hotels
New hotels take time to achieve optimal occupancy and ADR due to SEO and brand recognition challenges, delaying profitability.
medium · data_observationNotable Quotes
We find ourselves in a very unique position where there is still growth, you still have the performance, but expenses and other things are going up.
Our target is to bring this down by performance and by rationalization wherever required.
We have learned our lessons. We've done as needful. I think financially we are quite comfortable.
Frequently Asked Questions
What was Kamat Hotels India's revenue in Q4 FY26?
Kamat Hotels India reported revenue of ₹110 Cr in Q4 FY26, representing a +19% change compared to the same quarter last year.
What guidance did Kamat Hotels India management give for FY27?
Bhavnagar hotel opening by June 2026: The Orchid Bhavnagar property is expected to open by June 2026, ahead of earlier estimates. 150-200 new keys in FY27: Management expects to operationalize 150-200 additional keys in FY27 based on current pipeline. EBITDA margin improvement from new hotels: New hotels opened in FY26 are expected to stabilize and contribute positively to EBITDA in FY27, offsetting the Mumbai revenue loss.
What are the key risks for Kamat Hotels India in FY27?
Key risks include Revenue gap from Orchid Mumbai closure — Loss of ~₹50 crore annual revenue from the Orchid Mumbai lease may not be fully replaced by new properties in FY27.; Execution delays due to LPG crisis — LPG shortages are causing material supply issues, delaying hotel renovations and new openings.; Rising labor costs from new wage code — Annual salary revisions under the new wage code added ~₹4 crore to costs, which are permanent and may pressure margins.; Slow ramp-up of new hotels — New hotels take time to achieve optimal occupancy and ADR due to SEO and brand recognition challenges, delaying profitability..
Did Kamat Hotels India meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Kamat Hotels India 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.