ITC Hotels reports 25% revenue surge to INR 1,054 cr in H1 FY27
ITC-Hotels-Limited
The company strengthens its portfolio with 20 new hotel signings in H1 FY27, taking its managed pipeline to 84 hotels with approximately 8,200 keys.
ITC Hotels Limited (ITCHL) announced its financial results for the quarter and half year ended September 30, 2026, reporting strong growth in revenue, EBITDA and PAT, alongside continued momentum in its asset-right expansion strategy. The company recorded consolidated revenue from operations of INR1,054 crore, up 26%, and continued to strengthen its portfolio with 20 new hotel signings in H1 FY27, taking its managed pipeline to 84 hotels with approximately 8,200 keys.
The company registered consolidated income crossing INR 1,100 cr, underpinned by robust growth across Rooms, Food & Beverage and Management Fees. Consolidated revenue from operations (ex-Branded Residences) grew 17% YoY to INR 983 cr. Room revenue grew 22% YoY, driven by growth in both rates and volumes. 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.
Occupancy rose 481 bps to 76% and ADRs grew 14%, resulting in overall RevPAR growth of 21% YoY. The company maintained a RevPAR premium of 44% over the industry. Food & Beverage (F&B) revenue grew 12% YoY, led by speciality restaurants, lounges & bars and banqueting. Management and Operating Fees grew 25% YoY, reflecting the continued scale-up and stabilisation of the managed portfolio.
EBITDA margin (ex-Branded Residences) expanded by 263 bps to 32%, with EBITDA growing by 28% to INR 314 cr. Margin expansion reflects strong operating leverage and sustained cost efficiencies.
ITC Ratnadipa continued to register strong revenue growth, with Q2 RevPAR at 1.8x over FY25 levels while sustaining its leadership position in RevPAR. The hotel delivered positive EBITDA during the quarter, and for the half year. Progressive handover of Sapphire Residences also continued during the quarter.
Aligned with its ‘Asset-Right’ growth strategy, the company completed the acquisition of the 130-key Welcomhotel Ahmedabad, which is now operated as an owned hotel w.e.f. September 1, 2026. The company also renovated 200+ keys in H1 FY27 across its owned hotels in Kolkata, Bengaluru, Chennai and Delhi, further elevating the guest experience. The company has been allotted a 2.8-acre land parcel by Lucknow Development Authority. The said land would be utilized for developing a 200+ key luxury hotel with ample banqueting spaces, as per the company.
During H1 FY27, the group signed 20 hotels with over 1,600 keys, expanding its managed pipeline to 84 hotels with approximately 8,200 keys. The signings spanned a diverse mix of spiritual destinations such as Rajgir and Ujjain, wildlife destinations including Sasan Gir, Jawai and Sanjay Dubri, leisure destinations such as Goa, Havelock, Sindhudurg, Mukteshwar and Karjat, and business markets including Greater Noida and Roorkee, further strengthening the Company's footprint across emerging and high-growth travel destinations.
