India ADR
₹14,200
+12% YoY
Q4 FY26 India ADR growth driven by Pune's premium positioning and limited luxury supply.
VENTIVEHOSPITALITY
Healthcare
15 May 2026
Ventive Hospitality Ltd — Q4 FY26
Ventive Hospitality delivered a strong Q4 FY26 with consolidated revenue of ₹870 crore (+21% YoY) and EBITDA of ₹476 crore (+28% YoY), driven by pricing power in India (ADR +12% to ₹14,200) and robust Maldives performance (occupancy 75%, TrevPAR +18% to ₹90...
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2-Min Summary
✦ AI-Generated from Full Transcript
Ventive Hospitality delivered a strong Q4 FY26 with consolidated revenue of ₹870 crore (+21% YoY) and EBITDA of ₹476 crore (+28% YoY), driven by pricing power in India (ADR +12% to ₹14,200) and robust Maldives performance (occupancy 75%, TrevPAR +18% to ₹90,818). Full-year hospitality revenue approached ₹2,000 crore with EBITDA margins expanding 300 bps to 37%. The annuity segment provided stable cash flows (₹505 crore revenue, 90% margin). Management guided for low-teen revenue growth and high-teen EBITDA growth in the medium term, with occupancy headroom in Pune (target 75%) and Maldives (target 65%+). Key risks include geopolitical disruptions affecting Maldives travel and diesel cost inflation in the islands.
Key Numbers
Maldives Occupancy
75%
+3.3pp YoY
Q4 FY26 occupancy improved despite geopolitical headwinds, reflecting strong demand.
India RevPAR
₹9,634
+8% YoY
Q4 FY26 RevPAR growth supported by ADR gains despite slight occupancy dip to 69%.
Maldives TrevPAR
₹90,818
+18% YoY
Q4 FY26 TrevPAR growth driven by higher occupancy and rate mix in luxury resorts.
Management Guidance
Medium-term occupancy target of 75% for India portfolio
Management expects to ramp up occupancy from current 69% to 75% in the medium term, supported by Pune's commercial absorption and limited supply.
Management guidance growthMedium-term occupancy target of 65%+ for Maldives luxury resorts
Conrad and Anantara occupancy expected to exceed 65% in the medium term, up from 61% in FY26.
Management guidance growthCapex of ~₹1,000 crore over next 3 years
Capital expenditure for Bangalore AC, Sri Lanka Ritz-Carlton Reserve, and other projects to be funded through internal accruals.
Management guidance capexLow-teen revenue growth and high-teen EBITDA growth in medium term
India portfolio expected to deliver low-teen revenue growth and high-teen EBITDA growth driven by occupancy and ADR expansion.
Management guidance growthKey Risks
Geopolitical disruptions impacting Maldives travel
Middle East tensions and travel advisories from US/Europe have caused short-term occupancy volatility; April traffic data showed 25% YoY decline.
high · analyst_questionDiesel cost inflation in Maldives
Maldives resorts rely on diesel for power; supply tightness and price adjustments could increase operating costs, though management has 1-2 months of inventory.
medium · analyst_questionMundra project put on hold
The Mundra opportunity was reassessed and deferred due to timing and return profile concerns, indicating potential capital allocation challenges.
low · management_commentaryOne-off items distorting India EBITDA
Q4 India EBITDA declined 7% reported, but adjusted for one-offs (electricity credit, past period costs) showed 6% growth; such items may recur.
low · data_observationNotable Quotes
FY26 has been a landmark year for Ventive. It was our first full year of reporting as a listed company and the year demonstrated the strength of the platform that we built.
Pune is not behaving like a secondary hotel market anymore. The demand base has changed.
We are not pursuing growth for scale alone. Each addition is being assessed against return thresholds, funding discipline, execution complexity and fit within the wider platform.
Frequently Asked Questions
What was Ventive Hospitality's revenue in Q4 FY26?
Ventive Hospitality reported revenue of ₹779 Cr in Q4 FY26, representing a +21% change compared to the same quarter last year.
What guidance did Ventive Hospitality management give for FY27?
Medium-term occupancy target of 75% for India portfolio: Management expects to ramp up occupancy from current 69% to 75% in the medium term, supported by Pune's commercial absorption and limited supply. Medium-term occupancy target of 65%+ for Maldives luxury resorts: Conrad and Anantara occupancy expected to exceed 65% in the medium term, up from 61% in FY26. Capex of ~₹1,000 crore over next 3 years: Capital expenditure for Bangalore AC, Sri Lanka Ritz-Carlton Reserve, and other projects to be funded through internal accruals. Low-teen revenue growth and high-teen EBITDA growth in medium term: India portfolio expected to deliver low-teen revenue growth and high-teen EBITDA growth driven by occupancy and ADR expansion.
What are the key risks for Ventive Hospitality in FY27?
Key risks include Geopolitical disruptions impacting Maldives travel — Middle East tensions and travel advisories from US/Europe have caused short-term occupancy volatility; April traffic data showed 25% YoY decline.; Diesel cost inflation in Maldives — Maldives resorts rely on diesel for power; supply tightness and price adjustments could increase operating costs, though management has 1-2 months of inventory.; Mundra project put on hold — The Mundra opportunity was reassessed and deferred due to timing and return profile concerns, indicating potential capital allocation challenges.; One-off items distorting India EBITDA — Q4 India EBITDA declined 7% reported, but adjusted for one-offs (electricity credit, past period costs) showed 6% growth; such items may recur..
Did Ventive Hospitality meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Ventive Hospitality 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 verified against official BSE/NSE filings.