ITC Hotels reports revenues of Rs 1054 cr for Q2, PAT at Rs 203 cr

The chain’s EBITDA stood at Rs 337 crore, up 37% year on year. ITC Hotels said it signed 20 new hotels in the first half of fiscal year 2027 and that its managed pipeline is at 84 hotels with 8,200 keys. The chain said it has completed the acquisition of the 130-key Welcomhotel Ahmedabad. It has also been allotted a 2.8 acres land parcel in Lucknow by Lucknow Development Authority.

The chain said its room revenue grew 22% year on year, driven by growth in both rates and volumes. The performance was supported by ‘healthy’ transient demand across key markets and buoyancy in MICE (Meetings, Incentives, Conferences and Exhibitions) business, aided by the BRICS Summit in New Delhi. ITC Hotels said its occupancy rate rose 481 bps to 76% and average daily rates grew 14%, resulting in the overall revenue per available room growth of 21% year on year.

The chain said its food and beverage revenue grew 12% year on year led by speciality restaurants, lounges and bars and banqueting.

ITC Hotels said despite international tourist arrivals slowing amid geopolitical uncertainties and a softer global economic environment, and declining domestic air passengers traffic during the quarter under review, India's hospitality industry continued to demonstrate resilience, supported by ‘strong’ domestic demand, ‘favourable’ supply-demand dynamics and 'improving' connectivity across the country.

“In addition to the traditionally stronger second-half demand cycle, near-term outlook for the hospitality industry remains encouraging, driven by sustained demand from business and leisure travel and limited incremental supply in key markets,” ITC Hotels said in a statement.

“The second half is also expected to benefit from weddings, high-impact MICE, social and sporting events, supporting demand and pricing across key markets,” the chain added.