BSECompany Update4 Aug 2026 · 4 Aug 2026, 06:26 pm
We are enclosing herewith the Press Release of M/s. Sterling Holiday Resorts Limited, wholly owned subsidiary of M/s. Thomas Cook (India) Limited dated August 4, 2026 titled, "Sterling ....
Thomas Cook (India) Ltd · 500413
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Thomas Cook (India) Ltd's wholly owned subsidiary, Sterling Holiday Resorts Limited, reported its strongest-ever quarterly performance, delivering record revenue, EBITDA, and profit before tax in Q1 FY27.
Analysis Scores
Earnings Impact8/10
Growth Catalyst6/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk1/10
Liquidity Impact9/10
Market Sentiment8/10
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Thomas Cook (India) Ltd - 500413 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
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August 4, 2026
The Manager, The Manager,
Listing Department Listing Department
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1,
Dalal Street, G Block, Bandra-Kurla Complex, Bandra (E),
Mumbai – 400 001 Mumbai – 400 051
Scrip Code: 500413 Scrip Code: THOMASCOOK
Fax No.: 2272 2037/39/41/61 Fax No.: 2659 8237/38
Dear Sir/ Madam,
Sub: Press Release – Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
We are enclosing herewith the Press Release of M/s. Sterling Holiday Resorts Limited, wholly owned subsidiary of
M/s. Thomas Cook (India) Limited dated August 4, 2026 titled, “Sterling Delivers Best Ever Quarter, Marks a Defining
Inflection Point”.
This is for your information and records.
Thank you.
Yours faithfully,
For Thomas Cook (India) Limited
Amit J. Parekh
Company Secretary and Compliance Officer
Encl: a/a
PRESS RELEASE
Sterling Delivers Best Ever Quarter, Marks a Defining Inflection Point.
Record Performance Reflects a Stronger, Scalable & More Resilient Hospitality Platform.
Key Highlights
• Best-ever Quarterly Performance – Revenue at ₹1.7 Billion, PBT grows 30% YoY
• 37% EBITDA Margin – among the top hospitality brands in the country.
• Q1 FY27 marks its 26th consecutive profitable Quarter.
• Operating Excellence – Occupancy rises 700 BPS, ARR grows 10% , RevPAR grows 20%,
• Sterling Kanha only resort in India to win 'Best of the Best' Award four years in succession
Chennai, 4th August 2026: Sterling Holiday Resorts Limited (SHRL), one of India's leading hospitality
companies, today reported its strongest-ever quarterly performance, delivering record Revenue, EBITDA,
Profit Before Tax and Operating Free Cash Flow in Q1 FY27. More importantly, the quarter reflects the
emergence of a business that has fundamentally transformed itself over the last few years into a scalable,
profitable and resilient hospitality platform.
Total Revenue grew 21% year-on-year to ₹1.7 Billion, while EBITDA increased 21% to over ₹620 Million,
maintaining an industry-leading 37% EBITDA margin. Profit Before Tax grew even faster, rising 30% year-
on-year and expanding PBT margins by 200 basis points, while Operating Free Cash Flow increased 30%,
reflecting stronger operating leverage, disciplined cost management and robust cash generation. Sterling
remains completely debt-free, with cash reserves exceeding ₹3.7 Billion, providing significant flexibility to
invest in expansion, technology and guest experience.
The quality of Sterling's earnings continued to strengthen. Occupancy improved by 700 basis points to
77%, despite a significant increase in available inventory. Average Room Rate reached a record ₹7,809,
while TRevPAR increased 20%, supported by strong commercial execution, disciplined revenue
management and the growing strength of the Sterling brand. Room Revenue grew 29%, Food & Beverage
Revenue increased 15%, and demand continued to outpace supply additions.
Sterling today operates 78 resorts with nearly 3,800 rooms across more than 65 destinations, making it
one of the fastest-growing listed hospitality companies in India. The Company has a visible development
pipeline of 35+ resorts and over 2,000 additional rooms, supported by its asset-right strategy that
balances owned, leased and managed properties while maintaining capital discipline.
Customer excellence remained Sterling's strongest differentiator. Sterling Kanha received Tripadvisor's
prestigious "Best of the Best" Award for the fourth consecutive year, placing it among the top 1% of
resorts globally and making Sterling one of the very few resort brands in the world to achieve this
distinction four years in succession. In addition, 28 Sterling resorts received Tripadvisor Travellers' Choice
Awards, with 12 resorts earning the recognition for three consecutive years.
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Commenting on the performance, Mr. Vikram Lalvani, Managing Director & CEO, Sterling Holiday Resorts
Limited, said:
"Q1 FY27 represents a defining milestone in Sterling's journey. While it has been our best quarter ever
across every key operating and financial metric, its significance extends well beyond the numbers. It
reflects the emergence of a business that has fundamentally transformed itself into a scalable,
profitable and resilient hospitality platform.
Virtually every growth engine delivered during the quarter. Our balance sheet has never been stronger,
our development pipeline provides excellent visibility, and we continue to invest in technology, Artificial
Intelligence and leadership as strategic enablers for the next phase of growth. Over the last five years,
Sterling has built the foundations of a high-quality hospitality company. Over the next five years, our
ambition is to compound that transformation into consistent growth, stronger returns on capital,
increasing cash generation and sustained stakeholder value creation. We firmly believe Sterling's
journey has only just begun."
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About Sterling Holiday Resorts Limited
Sterling Holiday Resorts Limited is one of India’s leading hospitality companies with a portfolio of 78
resorts, hotels and retreats across beaches, hills, jungles, heritage destinations, pilgrimage circuits,
waterfronts and drive-to destinations across the country. The company operates across more than 65
destinations and caters to leisure travellers, MICE, destination weddings, reunions and group travel.
Sterling has resorts at some of India’s best-loved holiday destinations, including Alleppey, Amritsar,
Anaikatti, Athirappilly, Ayodhya, Badami, Bokaro, Chail, Coorg, Corbett, Darjeeling, Dehradun,
Dharamshala, Gangtok, Gir, Goa, Godavari, Guruvayur, Haridwar, Jaisalmer, Jodhpur, Kalimpong, Kanha,
Kasauli, Karwar, Kodaikanal, Kufri, Lansdowne, Lonavala, Madurai, Malampuzha, Manali, Mohali, Mount
Abu, Munnar, Mussoorie, Nainital, Ooty, Panchgani, Pench, Puri, Pushkar, Ranthambore, Rishikesh,
Rudraprayag, Sakleshpur, Sariska, Shimla, Srinagar, Thekkady, Tipeshwar, Tiruvannamalai, Udaipur, Vellore,
Vythiri, Wayanad, Yelagiri, and Yercaud.
Sterling is a 100% independently managed subsidiary of Thomas Cook (India) Limited and part of Fairfax
Financial Holdings Limited.
Media Contact:
M. Harinath
Sr. Vice President – Corporate Communications
Sterling Holiday Resorts Ltd.
harinath.m@sterlingholidays.com
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