BSECompany Update21 Oct 2026 · 21 Oct 2026, 05:55 pm
Please find enclosed a copy of the investors/ analyst presentation.
Indian Hotels Company Ltd · 500850
✦ AI Summary▲ PositiveResults
Indian Hotels Company Ltd has reported a strong Q2FY27 performance, driven by domestic hotel demand and a diversified pipeline of 280 hotels. The company has upgraded its full-year revenue growth guidance to 15-17% YoY.
Analysis Scores
Earnings Impact8/10
Growth Catalyst9/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk3/10
Liquidity Impact9/10
Market Sentiment9/10
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Indian Hotels Company Ltd - 500850 - Announcement under Regulation 30 (LODR)-Investor Presentation
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October 21, 2026
The Secretary, Listing Department The Manager, Listing Department
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers Exchange Plaza, 5th Floor, Plot No. C/1,
Dalal Street Bandra Kurla Complex, Bandra (E)
Mumbai – 400 001 Mumbai 400 051
Scrip Code: 500850 Scrip Code: INDHOTEL
Sub: Analyst / Investor Presentation
Dear Madam, Sir,
Pursuant to Regulation 30 of the Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of the
presentation to be made to Analysts/Investors on the Un-audited (Reviewed) Standalone and
Consolidated Financial Results of the Company for the quarter and half year ended
September 30, 2026, at the IHCL Global Conference Call to be held today.
The above information is also being made available on the Company’s website at
https://www.ihcltata.com/.
This is for your information and records.
Yours Sincerely,
For The Indian Hotels Company Limited
Melisa Alva
Senior Vice President & Company Secretary
Mem No: A34774
Place: Mumbai
GROWTH IN ACTION, RESILIENCE BY DESIGN
GLOBAL CONFERENCE CALL Q2FY27
21st October, 2026
ONLY HOTEL BRAND IN INDIA WITH ‘3 MICHELIN KEY’ HOTELS
RECOGNIZED
TWO YEARS
IN A ROW
Taj Lake Palace, Udaipur Taj Falaknuma Palace, Hyderabad
(3 Michelin Keys) (3 Michelin Keys)
Taj Mahal, New Delhi Taj Mahal Palace, Mumbai
Taj Rishikesh Resort & Spa, Uttarakhand Taj Nadesar Palace, Varanasi
Hotels with Taj Usha Kiran Palace, Gwalior Taj Devi Ratn Resort & Spa, Jaipur Recognized
1 Michelin key Properties
Taj Mahal Tower, Mumbai
QUARTER IN SUMMARY KEY HIGHLIGHTS
Strong Performance Driven By Domestic Hotel Diversified Pipeline of 280 Hotels
Segment Demand (+28% Standalone RevPAR) Across Brand & Contract Type Driving Resilience
Select Service Business Achieving Milestones
Upgrading Full Year Revenue Outlook To 15-17%
On Back Of Continued Momentum 100 50 400
Operating Gingers Tree of Life amãBungalows
Asset Management Yielding Strong Results Across
Strong NLFL Visibility With 50 Openings In FY27, Key Assets
Reaching 400 Operational Hotels In Q3
Delivering High Growth, High Margin & High Profitability – AT SCALE
RECORD HOTEL SEGMENT PERFORMANCE ACCELERATED GROWTH
Q2FY27 Record Performance
Standalone Consol Hotel Segment
+26% +40% +25% +30%
Operating Revenue Operating EBITDA Operating Revenue Operating EBITDA
13,860
↑28% 8,220
10,850
Domestic
Growth
Standalone Hotels ↑25%
RevPAR (₹/Night) Consol. Growth
Q2FY26 Q2FY27 RevPAR (₹/Night)
GAINING
75% 82%
MARKET
Occupancy Occupancy SHARE
Q2FY26
Standalone Statistics for Full Service Business (Excludes Gateway Calicut currently under renovation)
Note: Full Service Business excludes Ginger, ama and Tree of Life
FINANCIALS FOR THE QUARTER 18TH CONSECUTIVE BEST EVER QUARTER
Q2 IHCL Consol.
EBITDA & OP. EBITDA & PAT &
Financials REVENUE OP. REVENUE
MARGIN% MARGIN% MARGIN%
& Growth YoY
₹ 2,566 Cr ₹ 788 Cr ₹ 2,484 Cr ₹ 706 Cr ₹ 349 Cr
CONSOLIDATED ↑ 21% ↑ 21% ↑ 22% ↑ 24% ↑ 23%
30.7% 28.4% 13.6%
₹ 1,441 Cr ₹ 625 Cr ₹ 1,336 Cr ₹ 520 Cr ₹ 393 Cr
STANDALONE ↑ 24% ↑ 31% ↑ 26% ↑ 40% ↑ 36%
43.4% 38.9% 27.2%
₹ 2,284 Cr ₹ 735 Cr ₹ 2,204 Cr ₹ 655 Cr
Resilientgrowth
HOTEL SEGMENT ↑24% ↑ 26% ↑25% ↑ 30% continues in a volatile
geopolitical
environment
32.2% 29.7%
₹ 285 Cr ₹ 53 Cr ₹ 283 Cr ₹ 50 Cr
Performance
↓ 1% ↓ 23% ↓ 1% ↓ 24%
AIR CATERING impacted by
temporary softness in
18.4% 17.8% Air Traffic
BROAD-BASED GROWTH ACROSS REVENUE STREAMS
IHCL CONSOL HOTEL SEGMENT Q2 FY27 STANDALONE Q2 FY27
Room Room
1,115 +22% 578 +27%
Revenue Revenue
F&B F&B
686 +20% 441 +20%
Revenue Revenue
Other Other
Operating 247 +72% Operating 180 +49%
Operating Operating
Income* Income
Revenue Revenue
2,204 1,336
Management 156 +25% +25% Growth YoY Management 137 +16% +26% Growth YoY
Fees Fees
Revenue ₹ Cr & Growth YoY
* Atmantanrevenue forms part of other operating Income w.e.f16thJan-26
SUSTAINED STRENGTH REVENUE CAGR 19% | EBITDA CAGR 24%
~2x Op. Revenue Growth 2.4x Op. EBITDA Growth % +5 pp Margin Growth
₹1,233 Cr →₹2,484 Cr ₹294 Cr →₹706 Cr 23.9% →28.4%
(IHCL Consolidated)
27.5% 27.9% 28.4%
24.8%
23.9%
2,484
2,041
1,826
1,433
1,233
Q2FY23 Q2FY24 Q2FY25 Q2FY26 Q2FY27
Op. Revenue Op. EBITDA Op. EBITDA Margin
Predictable scale Increasing profile of growth Margins Expansion YoY
5 consecutive years of revenue expansion YoY growth ahead of the 5-year CAGR Despite consolidation of Taj SATS in Aug’24
Renovated Assets back in
operation with high yield
Growth
Drivers
Supporting
H2FY27
Momentum
Like-for-like TRevPAR
growth momentum to
continue
30+ Hotels Expected to Open
in H2
Acquisitions to fuel Not
Like-For-Like growth
UPGRADING FULL-YEAR REVENUE GROWTH GUIDANCE
17-19% YoY Consol. Hotel Revenue| 15-17% YoY Total Revenue
Consol. Hotel Revenues
(₹ Crore)
17-19%
YoY Growth
PROVEN RESILIENCE WHILE ABSORBING MULTIPLE HEADWINDS
Navigated geopolitical disruptions
+1.1 pp +0.3 pp +4.0 pp +1.1 pp +4.0 pp +1.0 pp
(West Asia War)
Absorbed new hotel stabilization
costs
Continued investments in
technology, brand & talent
Integrated recent acquisitions
Adapted to regulatory changes
Well Positioned To Navigate Volatile Business Environment
Hotel Segment Operating EBITDA Margin (%)
42.4
38.7 38.9
34.3
30.1 29.7
FY26 Q1FY27 Q2FY27
Standalone Consol. (Hotel segment) YoY Growth
MULTIPLE DEMAND CATALYST IN PLACE
Mice & Trade
Exhibitions Delhi | Mar-27 Gujarat | Jan-27 Bengaluru | Feb-27 Bengaluru | Jan-27 Delhi | 2027
▲Corporate travel
60+ Hotels in
Sporting Events
50+Locations
High Profile High
Presence across strong Auspicious Wedding
Spiritual High-impact
Concerts Auspicious
demand Locations
Tourism Events Dates in H2FY27
Dates
▲Leisure Demand ▲Leisure Demand ▲F&B and Banquet Demand
Diverse Demand Engines Support Continued Momentum
Supply CAGR FY26 - 31
Existing Supply Supply CAGR
City
(2025-26) (2025/26 –2030/31)
2.4% Tier 1 91k rooms 5.2%
New Delhi
Tier 2 & 3 118k rooms 12.0%
3.0%
3.3% Kolkata Total 209k rooms 9.3%
Mumbai
Tier 1 Cities to witness lowest supply addition
CAGR compared to other categories
9.6% ~60% of total new announced supply
Bengaluru NOT in Top 20 cities
Only 72% of total new announced
supply in active development
5.8%
4.1%
Goa Strong Occupancies Across Tier 1 Cities
Chennai
Demand Expected To Outpace Supply In Near Term
WHILE SUPPLY GROWTH REMAINS CONSTRAINED IN KEY CITIES
Data Source: HotelivateTrends & Opportunities 2026 Indian Hospitality Tier 1 cities: Bengaluru, Mumbai, New Delhi, Chennai, Hyderabad, Kolkata, Goa, Gurugram
The Supply CAGRs mentioned above pertain to the active development pipeline Tier 2 cities: 30 cities including Ahmedabad, Jaipur, Kochi, Chandigarh, Lucknow, Noida, Navi Mumbai
HOTEL SEGMENT
A JOURNEY OF SCALE 400 HOTELS IN OPERATION AND GROWING
670 INCLUDING PIPELINE
110 years 12 years 1.5 years
400th
100th
200th
HOTEL HOTEL HOTEL
2013 2025 Q3
(This Quarter)
Taj City Centre, Gurugram Taj Gorbandh Palace, Jaisalmer Coming Soon
47 280
H1-Signings Hotels Pipeline
151 4 2 20 66 63 55 254 55 400
No of Hotels/Properties (Operating + Pipeline) as of 30thSeptember 2026
Operational Hotels
in H1
in H2 (Planned)
Indias Largest Hospitality Network with a portfolio of 670 Hotels & 400 amã Bungalows
INDUSTRY LEADING PORTFOLIO CONTINUED MOMENTUM OF
SIGNINGS | 50 OPENINGS IN FY27
Openings
FULL SERVICE BUSINESS SELECT SERVICE BUSINESS
* Includes hotels under transition
DIVERSIFIED PIPELINE ACROSS BRAND & CONTRACT TYPE
PIPELINE BY BRAND PIPELINE BY CONTRACT TYPE
>90%
Pipeline
Managed
Asset Light
PIPELINE
~28% share of 26% 34,800+
PIPELINE
Growth Brands 34,800+ 1% 13%
KEYS
Capital Light
KEYS 7% Lease*
10% 6%
2% 23%
Owned / Leased
Robust Opening Run Rate of 5,000+ Keys Annually
*Capital Light Lease means Revenue share leases where the capex is spent by Lessor and IHCL retains P&L net of Revenue share lease payments
REVENUE MIX RESILIENT ACROSS BRANDS & GEOGRAPHY
ACROSS GEOGRAPHY
ACROSS BRANDS
(Hotel Segment)
(H1FY27) (H1FY27)
SELECT SERVICE BUSINESS NEW ADDITIONS
Key Domestic
2%
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