loader2
Login Open ICICI 3-in-1 Account
  • Text Size
  • Text to Speech
  • Color Contrast
  • Pause Animations

Open ICICI
3-in-1 Account

Manage your Savings, Demat and Trading Account conveniently at one place

+91

BLOG

ITC Hotel’s consolidated revenues (ex-residential) reported double-digit growth

ICICIdirect Research 17 Jul 2026 DISCLAIMER

News: ITC Hotel’s consolidated revenues (ex-residential) reported double-digit growth of 10% YoY to Rs.891cr in Q1FY27. Hotel revenues reported 10% YoY growth to Rs.881.1cr. Consolidated RevPAR grew by 8% YoY to Rs.8380/night driven by 290bps YoY expansion in occupancy to 74% while ADR reported low single digit growth of 4% YoY to Rs.11,310/night. ITC Ratnadipa, Sri Lanka continued to sustain superior RevPAR leadership growing by 2.2x of Q1FY25 RevPAR with F&B revenues also reporting healthy growth during the quarter. As per our calculation, ITC Ratnadipa’s revenues grew by 10.3% YoY to Rs.79.2cr in Q1FY27. Consolidated EBITDA margins (ex-residential) margins stood at 31% improving by 125bps YoY. EBITDA (ex-residential) grew by 15% YoY to Rs.281cr. The company recorded Rs.37.8cr revenues from sale of residences in Q1FY27. Overall including the residential income, revenues grew by ~15% YoY to Rs.936cr, EBITDA margins improved by 123bps to 31.2%. Adjusted PAT (ex-residential) grew by 26% YoY to Rs.169cr in Q1FY27. Consolidated Adjusted PAT grew by 37.5% YoY to Rs.178.3cr in Q1FY27. The company announced 100% stake acquisition in GHK Hospitality and Infrastructure which owns “Welcomhotel, Ahmedabad” with 130 keys (ITC Hotels operates it under operating service agreement) for EV of Rs.155cr implying deal valuation of 4.4x EV/Sales. Revenues of the acquired grew at CAGR of 17% over past 2 years.

View: The company reported high-single digit RevPAR growth in-line with the industry trend despite geopolitical undertainity during the first half of the quarter. The beginning of the quarter was impacted by demand softness led by West Asia Crisis while May and June 2026 witnessed recovery in occupancy and room rates. Overall Q1FY27 performance was operationally good despite uncertainities. We expect double-digit RevPAR growth in H2FY27 in the background of stable operating environment. We expect the strong cash balance to invest incrementally in organic and inorganic initiatives in the coming years. Recent acquisitions will add 200 rooms to the existing room inventory. Currently the company has an owned operating portfolio of ~5700 keys and targets ~7500 rooms by FY31.

Impact: Positive

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere

Download ICICI Direct app

Invest, Track, and Manage your Portfolio Anytime, Anywhere