Tag: Hotels & Resorts

INDHOTEL – Q3 FY26 Earnings Call – 12-Feb-26

INDHOTEL: Findings imply sustained double-digit topline growth (12%–14%) with EBITDA margins at 39%–40% and PAT expansion (15%–18%), contingent on RevPAR resilience, acquisition execution, and capex discipline—structural diversification and asset-light scaling remain key differentiators.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

  • RevPAR Resilience: 8.5%–10% domestic RevPAR + 12%–14% consolidated revenue growth (60+ openings, F&B/spa upside). Taj Bandstand on track for ₹1,000 crore stabilization.
  • Acquisition Synergies: Ginger reaches 250+ hotels; Atmantan/Brij contribute ₹250–300 crore. EBITDA margin sustains at 39%–40%.
  • Implication: Double-digit PAT growth (15%–18%), management fee income grows high-teens, and capital-light model drives ROIC expansion.
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