Risks
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Geopolitical disruption impacting international travel
View Risks →Leela Palaces Hotels & Resorts Ltd — Q4 FY26
Leela delivered a strong FY26 with operating revenue up 15% YoY to ₹1,527 Cr and EBITDA margin expanding 167 bps to 49%, driven by 14% same-store RevPAR growth and disciplined cost management.
bullish
high
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Leela delivered a strong FY26 with operating revenue up 15% YoY to ₹1,527 Cr and EBITDA margin expanding 167 bps to 49%, driven by 14% same-store RevPAR growth and disciplined cost management. PAT surged to ₹403 Cr from ₹48 Cr, aided by lower finance costs. Q4 saw 12% revenue growth despite geopolitical disruptions impacting March occupancy, but ADR grew 15% and domestic demand remained robust. Management guided for double-digit RevPAR growth in Q1 FY27 and expects occupancy to recover to early 70s. The Coorg acquisition and ARK membership club are key growth drivers. Risk: prolonged Middle East conflict could further pressure international inbound travel and delay Dubai asset ramp-up.
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Same-store RevPAR growth
14%
+14% YoY
Driven by double-digit ADR growth across all five owned palaces.
Net Promoter Score
86
+12 pts vs APAC luxury avg
Highest rated luxury hospitality brand in India, 12 points above APAC luxury average.
Market share (RevPAR index)
150
+11 pts YoY
RevPAR premium of ~₹6,000 over India luxury segment.
Net debt to EBITDA
1.6x
-50% YoY
Net debt reduced by 50%, providing financial headroom for expansion.
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Guidance and risk preview
April RevPAR grew high single-digit YoY, and management expects double-digit RevPAR growth for the full quarter.
Middle East conflict caused a sharp drop in March occupancy, especially in city hotels with high international mix.
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