India’s hospitality industry is witnessing rapid growth, with Indian Hotels and ITC Hotels emerging as the leading players. Both companies continue to post strong performances and expand their reach across markets.
This article covers their latest quarterly results, revenue segments, hotel portfolios, and famous brands. It also explores portfolio expansion strategies, showing how both giants aim to shape India’s hospitality future.
With a market capitalization of Rs. 110,550.86 crore, the shares of Indian Hotels Company Limited were currently trading at Rs. 776.65 per equity share. Similarly, with a market capitalization of Rs. 50,785.22 crore, the shares of ITC Hotels Limited were currently trading at Rs. 243.85 per equity share.
Q1 FY26 Result Walkthrough
Coming into the quarterly results of Indian Hotels Company Limited, the company’s consolidated revenue from operations increased by 31.68 percent YOY, from Rs. 1,550 crore in Q1 FY25 to Rs. 2,041 crore in Q1 FY26, and decreased by 15.84 percent QoQ from Rs. 2,425 crore in Q4 FY25.
Indian Hotels Company Limited’s revenue mix was led by hotel services, contributing 85.88 percent, followed by air and institutional catering revenue at 14.12 percent in Q1 FY25-26.
In Q1 FY26, Indian Hotels Company Limited’s consolidated net profit increased by 26.54 percent YOY, reaching Rs. 329 crore compared to Rs. 260 crore during the same period last year. As compared to Q4 FY25, the net profit has decreased by 41.56 percent, from Rs. 563 crore.
Correspondingly, ITC Hotels Limited’s consolidated revenue from operations increased by 15.58 percent YOY, from Rs. 706 crore in Q1 FY25 to Rs. 816 crore in Q1 FY26, and decreased by 23.09 percent QoQ from Rs. 1,061 crore in Q4 FY25.
ITC Hotels Limited’s revenue mix was led by room revenue, contributing 50 percent, followed by food and beverage revenue at 40 percent and other income at 10 percent in Q1 FY25-26.
In Q1 FY26, ITC Hotels Limited’s consolidated net profit increased by 54.02 percent YOY, reaching Rs. 134 crore compared to Rs. 87 crore during the same period last year. As compared to Q4 FY25, the net profit has decreased by 48.06 percent, from Rs. 258 crore.
Hotel Portfolio
IHCL has expanded its portfolio to over 550 hotels, showing strong growth momentum in recent years. The company has more than doubled its presence in the midscale segment, growing from 105 hotels earlier to 240 today.
Similarly, ITC Hotels currently operates a strong portfolio of more than 140 properties with over 13,300 keys across India. The portfolio reflects a balanced mix of owned and managed hotels, with 42 percent owned and 58 percent managed.
Additionally, ITC Hotels Limited has been expanding its portfolio steadily, which now reaches 201 properties, including 58 in the pipeline. Over the last 24 months, the company signed 55 hotels and successfully opened 25 new ones, reflecting consistent growth momentum.
With a healthy pipeline of more than 5,300 rooms, ITC Hotels is on track to open more than one hotel every month over the next two years, showing strong growth momentum.
Famous Hotel Brands
Indian Hotels Company Limited’s portfolio spans iconic hotel brands like Taj, Vivanta, SeleQtions, and Ginger, complemented by experiences such as The Chambers, Tree of Life, and Claridges Collection.
Additionally, the company’s rich dining and lifestyle offerings include Golden Dragon, Wasabi, Machan, Thai Pavilion, Rick’s, Seven Rivers, Qmin, Khazana, Shamiana, Ama Stays & Trails, Loya, and Nomad.
Likewise, ITC Hotels offers a wide range of brands, from luxury (ITC Hotels, Mementos) to premium (Welcomhotel, Storii), mid-market (Fortune), and heritage stays (WelcomHeritage), delivering responsible luxury and diverse experiences under the Club ITC umbrella.
Key Metrics
Ginger Hotels, a part of IHCL, has significantly outperformed the industry in RevPAR growth, recording a 9.4 percent CAGR between FY18-25, compared to the industry average of just 3.9 percent.
Similarly, ITC Hotels Limited reported strong performance with a 34 percent RevPAR premium over the industry average across key Indian cities
Portfolio Expansion
IHCL is accelerating its expansion further and aims to cross 700 hotels by 2030. This steady growth highlights IHCL’s ability to capture opportunities across segments while strengthening its leadership in the hospitality industry.
Correspondingly, ITC Hotels is expanding its portfolio with new properties, including Welcomhotel Puri (118 keys) and Welcomhotel Bhubaneswar (more than 100 keys) by FY28, along with a 200-key flagship hotel in Vizag by FY30, strengthening its presence in key destinations.
Additionally, ITC Hotels targets operating over 220 properties with more than 20,000 keys by 2030, maintaining a balanced portfolio with 30 percent owned and 70 percent managed hotels.
Company Overview
Indian Hotels Company Limited (IHCL) was incorporated in 1902 by Jamsetji Tata. It is India’s largest hospitality company offering luxury hotels, resorts, jungle safaris, palaces, spas, and in-flight catering services globally through renowned brands like Taj, Vivanta, Ginger, and SeleQtions.
Similarly, ITC Hotels was established in 1975, pioneered by ITC Limited. It operates a chain of luxury hotels across India, blending Indian hospitality traditions with modern amenities and sustainable practices in over 140 hotels.
Written By – Nikhil Naik
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