Indian Hotel Companies Showcase Robust Growth with High PE Ratios in 2023

Indian Hotel Companies Showcase Robust Growth with High PE Ratios in 2023

By Nishang Narayan

Published on May 7, 2024

The Indian hotel industry demonstrated remarkable financial performance in 2023, significantly outperforming its international counterparts, as reported by HVS Anarock in their latest India Hospitality Industry Overview. The study revealed that Indian listed hotel companies achieved an average price-to-earnings (PE) ratio of 56.4x, which is double that of global hotel giants like Marriott International and Hilton, which recorded an average of 28.4x.

The collective market capitalization of the top 23 hotel companies in India reached an impressive INR 191,333 crore as of April 1, 2024, with the top nine companies accounting for 77 percent of this market value. This substantial valuation underscores the robust growth and investor confidence in the Indian hospitality sector, especially post-pandemic.

image

2023 marked a record year for the industry across several key performance metrics, including EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and PAT (Profit After Tax), with significant advancements over 2022 figures. This growth has been driven by strong recovery strategies and improving industry fundamentals, which have also helped the sector attract more institutional and patient capital investments in recent years.

Laura Livers, Chief Revenue Officer at Intouch Insight, highlighted, "The data from our study points to a significant year of recovery and growth for Indian hotels, driven largely by technological adoption and innovative customer service strategies."

The report also sheds light on operational performance, noting that nationwide hotel occupancy rates for 2023 were between 63-65 percent, nearly reaching pre-pandemic levels, with Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) witnessing substantial growth. ADR reached approximately INR 7,400-7,600, surpassing both 2022 and pre-pandemic figures, and RevPAR grew by 29-31 percent from 2022, reflecting the industry's ability to drive rates amidst buoyant demand.

image

The positive outlook for the Indian hotel sector is expected to continue, with projections for 2024 suggesting further improvements in occupancy rates and a 6-8 percent increase in ADR. This would potentially elevate RevPAR by 31-33 percent compared to pre-pandemic levels, affirming the sector's strong trajectory and offering promising prospects for investors and career professionals alike.

This comprehensive analysis by HVS Anarock not only highlights the resilience of the Indian hotel industry but also its pivotal role in shaping the global hospitality landscape through innovation and strategic growth initiatives.


A. R. Rahman Headlines RECHARGE 2026 at Rajalakshmi Engineering College

A. R. Rahman Headlines RECHARGE 2026 at Rajalakshmi Engineering College

By Hariharan U

Published on March 27, 2026

RECHARGE 2026 at Rajalakshmi Engineering College, Chennai, turned into a landmark cultural moment with a massive turnout of over 18,000 students on its opening day. The event brought together music, art, and student energy on an unprecedented scale, setting a new benchmark for college culturals in India.

In a historic first, globally celebrated music composer A. R. Rahman performed live on a college campus, making the evening truly unforgettable. His performance became the highlight of the fest, elevating it into a large-scale cultural spectacle.

The night also featured performances by well-known artists including Shweta Mohan, Rakshita Suresh, Amrutha Suresh, Nakul Abhyankar, Blaaze, Haricharan, Aditya R K, Nitesh Aher, and A. R. Ameen, creating a high-energy lineup that kept the audience engaged throughout.

RECHARGE 2026 was designed as an immersive platform celebrating creativity and talent, bringing together established artists and emerging voices in a single space.

Speaking about the event, Abhay Meganathan, Vice Chairman of Rajalakshmi Engineering College, said, "We are immensely proud to have hosted a historic moment not just for our institution, but for college culturals across India. Bringing A. R. Rahman to perform at our campus reflects our commitment to creating unparalleled opportunities and experiences for our students. RECHARGE 2026 embodies the spirit of innovation, passion, and excellence that defines our institution."

Following the strong response to Day 1, the fest continues with an equally exciting lineup featuring Prabhu Deva, along with performances by Saanvee Meghana, Nikki Galrani, Sayyeshaa, Shriya Saran, Anukeerthi Vyas, Samyuktha Shan, and Yashika Anand. A special highlight includes a dance performance featuring faculty members alongside the college dance team “Rugged,” mentored by Prabhu Deva.

Tejshree Abhay Meganathan, Executive Director of the college, added, "RECHARGE 2026 is not just a cultural event, but a celebration of the vibrant spirit and talent of our students. At our institution, we believe such initiatives play a vital role in nurturing creativity, confidence, and holistic development."

With RECHARGE 2026, Rajalakshmi Engineering College has redefined the scale of campus events, creating a new benchmark for experiential college festivals in India


CGH Earth Saha Opens Isai Karai Bungalow in Mahabalipuram

CGH Earth Saha Opens Isai Karai Bungalow in Mahabalipuram

By Hariharan U

Published on March 27, 2026

CGH Earth Saha has expanded its presence in Tamil Nadu with the launch of Isai Karai, a boutique coastal bungalow in Mahabalipuram. Designed as a quiet and intimate retreat, the property blends the charm of a traditional bungalow with modern comforts, set against a culturally rich seaside backdrop.

Located just a short walk from the shore along the Bay of Bengal, Isai Karai, meaning ‘musical shore’, offers a peaceful stay surrounded by greenery and the calming sound of the sea. The property also enjoys close proximity to iconic landmarks like the Shore Temple and the rock relief of Arjuna's Penance, allowing guests to explore the region’s heritage with ease.

The bungalow features five rooms, spread across a three-bedroom main residence and a separate two-bedroom unit. While rooms can be booked individually, the layout also works well for families and small groups looking for a shared yet private stay.

Each room is inspired by the natural surroundings, with names and themes drawn from plants and trees on the property. Interiors are designed to bring the outdoors in, with open-style bathrooms, natural light, and green views. Pathways run through lawns and shaded courtyards, with tropical fruit trees like papaya, mango, and star fruit adding to the relaxed setting.

The design also reflects Mahabalipuram’s artistic heritage, with locally sourced stone elements, sculptures, and curated artworks adding character to the space.

Dining at the bungalow focuses on flavours of the Tamil coast, along with other cuisines that can be customised for guests. Fresh seafood and locally sourced ingredients take centre stage, while evenings are best enjoyed at the poolside barbecue, where the day’s catch is grilled in a laid-back garden setting.

Beyond the stay, guests can explore nearby attractions such as the Mahabalipuram Lighthouse and the India Seashell Museum, along with local sculpture schools that continue the region’s stone-carving traditions. The beaches, known for their surf-friendly waves, also attract water sports enthusiasts.

With easy access from Chennai and Puducherry, Isai Karai Bungalow is well-suited for weekend getaways, longer coastal stays, and intimate family holidays.


The Leela Hosts 4th Annual Golf Tournament 2026 in Bengaluru

The Leela Hosts 4th Annual Golf Tournament 2026 in Bengaluru

By Manu Vardhan Kannan

Published on March 27, 2026

The Leela Palace Bengaluru recently hosted the 4th edition of The Leela Annual Golf Tournament 2026 at the Karnataka Golf Association, bringing together experienced golfers and young players for a day focused on sport, learning, and community.

The 18-hole shotgun tournament continues to grow as a platform that connects different generations of golfers. From corporate leaders and seasoned players to families and emerging talent, the event created a space where the sport could be shared, experienced, and passed on.

Organised in collaboration with the KGA Junior Golf Development Program and the Karnataka Golf Association, the tournament stayed true to its focus on supporting young golfers. This year, junior participants not only competed but also interacted with experienced players, gaining exposure to a professional playing environment and building confidence.

Sharing his thoughts, Madhav Sehgal, Senior Vice President – Operations South and Head of Sales, The Leela Palaces, Hotels & Resorts, said, “For The Leela, true luxury lies not only in celebration, but in contribution. This tournament allows us to bring the sporting community together while empowering young players to dream bigger, aim higher, and feel supported at every stage of their journey.”

Nishant Agarwal, Vice President & General Manager, The Leela Palace Bengaluru, added,

“The Leela Annual Golf Tournament continues to evolve as a platform that brings together the golfing community while encouraging the next generation of players. Through our continued association with the Karnataka Golf Association and the Junior Golf Development Program, we aim to create opportunities where young golfers feel inspired and supported.”

The tournament featured multiple categories, including dedicated junior divisions, allowing participation from children taking their first steps in the sport to accomplished golfers. In total, 16 awards were presented, recognising 15 winners across categories.

In the Stableford Full Handicap category (0–18), Karan Aggarwal emerged as the winner with 42 points, followed by Devaiah Thennira with 40 points, after a tie-break on the back nine against Kanwaljit Singh. In the 19–24 category, Venu Mahadev secured the top spot with 42 points, while Sunil Bathija finished as runner-up with 40 points.

Special prizes were also awarded, with Sandeep Singh winning Closest to the Pin (15th Hole) and also achieving a Hole-in-One. Sunita Da Costa recorded the Longest Drive at 329 yards on the 5th hole, while Jashan Ganapathy won Straightest Drive with a distance of 7.1 feet on the 2nd hole.

Among the junior categories, Ridhan Deepak and Sunvisha Reddy N led the 8 years and below group. Advath Sunil and Vedika topped the 9–11 years category, while Aida Thimmaiah and Milind M G stood out in the 12–14 years group. In the 15 years and above category, Ananthasurya secured the win, followed by Sudharshan.

The tournament also saw participation from key properties across The Leela portfolio, including The Leela Palace Bengaluru, The Leela Bhartiya City Bengaluru, The Leela Palace New Delhi, The Leela Palace Chennai, The Leela Palace Udaipur, The Leela Palace Jaipur, and The Leela Coorg Forest Sanctuary.

With a focus that goes beyond competition, the event continues to highlight the importance of mentorship, exposure, and community building in shaping the future of Indian golf.

Stay up-to-date with the latest Hospitality news and trends in the Hospitality industry!

Subscribe to Hospitality news e-magazine for free and never miss an issue.

By clicking subscribe for free you agree to the Terms & Conditions and acknowledge our Privacy Policy.

Advertise With Us

We have various options to advertise with us including Events, Advertorials, Banners, Mailers, etc.