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.

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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.

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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.


The Leela Gandhinagar Marks International Yoga Day with Wellness-Focused Celebration

The Leela Gandhinagar Marks International Yoga Day with Wellness-Focused Celebration

By Manu Vardhan Kannan

Published on June 23, 2026

The Leela Gandhinagar celebrated International Yoga Day with a thoughtfully curated wellness experience that encouraged guests to slow down, reconnect, and embrace a more mindful way of living. Inspired by Aujasya by The Leela, the brand's philosophy centred on vitality, balance, and mindful living, the event brought together guests, wellness enthusiasts, and hotel associates for a morning dedicated to holistic wellbeing.

Hosted within the serene surroundings of the hotel, the programme went beyond physical exercise to focus on mindfulness and self-awareness. Participants took part in guided yoga sessions, mindful breathing exercises, and moments of quiet reflection, creating an environment that encouraged relaxation and inner balance.

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The experience was designed around the belief that true wellbeing is built through meaningful and enriching moments. As the session concluded, guests were invited to continue their wellness journey with an Aujasya-inspired breakfast featuring wholesome dishes, fresh fruits, herbal infusions, and nutritious selections curated to complement the spirit of the occasion.

The event reflected the holistic wellness approach of Aujasya, where movement, nourishment, and mindfulness come together to promote renewal and personal wellbeing. Through the experience, participants were encouraged to pause from their daily routines, recharge, and adopt a more balanced lifestyle.

Commenting on the occasion, Vikas Sood, General Manager, The Leela Gandhinagar, said, “Wellbeing is increasingly becoming an essential part of how people choose to live, travel, and engage with the world around them. Through Aujasya-inspired experiences, we aim to create meaningful opportunities that encourage balance, mindfulness, and a sense of inner renewal. International Yoga Day offered a wonderful occasion to celebrate this philosophy and share it with our guests and associates.”

As wellness continues to play a growing role in luxury hospitality, The Leela Gandhinagar remains focused on creating experiences that blend authentic hospitality with mindful living. Guided by the principles of Aujasya, the hotel continues to offer opportunities for guests to reconnect with themselves through thoughtful and restorative experiences.

More than a celebration of yoga, the event served as a reminder of the importance of mindfulness, nourishment, and inner balance in creating a healthier and more fulfilling way of life.


ITC Maurya Marks International Yoga Day 2026 with Focus on Healthy Ageing

ITC Maurya Marks International Yoga Day 2026 with Focus on Healthy Ageing

By Manu Vardhan Kannan

Published on June 23, 2026

ITC Maurya celebrated International Yoga Day 2026 with a dedicated wellness session at Nandiya Garden, embracing this year's theme, "Yoga for Healthy Ageing." The event brought together wellness enthusiasts and influencers for a morning focused on physical health, mental well-being, and mindful living.

The programme began with a guided yoga session conducted by a certified instructor. Designed to support overall wellness, the session highlighted the role of yoga in maintaining physical vitality, improving mental balance, and encouraging long-term healthy living.

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Following the yoga session, participants were treated to a selection of nutritious and wholesome refreshments that complemented the event's focus on wellness and conscious lifestyle choices.

The initiative reflected ITC Hotels' commitment to Responsible Luxury by encouraging guests to adopt healthier habits and prioritise self-care in their daily lives. Through activities centred on holistic well-being, the hotel reinforced the importance of maintaining a balanced lifestyle while making mindful and sustainable choices.

By aligning with the global celebration of International Yoga Day, ITC Maurya highlighted the growing relevance of wellness practices in supporting healthy ageing and enhancing overall quality of life.


ITC Hotels Strengthens Rajasthan Presence with Signing of Welcomhotel Jaipur

ITC Hotels Strengthens Rajasthan Presence with Signing of Welcomhotel Jaipur

By Hariharan U

Published on June 20, 2026

ITC Hotels Limited has announced the signing of a management agreement for a 140-key Welcomhotel by ITC Hotels in Jaipur, marking another significant step in the company’s expansion strategy across key state capitals and high-demand hospitality markets.

The upcoming property will strengthen ITC Hotels’ presence in Rajasthan, a state renowned for its rich cultural heritage, royal architecture, and thriving tourism sector. Jaipur, in particular, continues to attract domestic and international travellers, while remaining one of India’s most sought-after destinations for weddings, celebrations, and business events.

Designed to blend contemporary comfort with the city’s historic charm, Welcomhotel Jaipur will feature well-appointed guest rooms and suites, an all-day dining restaurant, a specialty restaurant, and a lounge bar. The hotel will also offer extensive event infrastructure, including more than 15,000 square feet of indoor banqueting space and 22,000 square feet of landscaped outdoor venues, positioning it as a preferred destination for MICE events and destination weddings.

Guests will have access to wellness and spa facilities, further enhancing the overall hospitality experience.

Commenting on the development, Anil Chadha, Managing Director of ITC Hotels Limited, said Jaipur represents a unique blend of heritage and growing demand for premium hospitality experiences. He noted that the project aligns with the company’s focus on strengthening its presence in high-visibility destinations across India.

Directors of Ashraya Hotels and Resorts Anil Agarwal, Sunil Agarwal, and Peyush Agarwal said the partnership aims to bring world-class hospitality experiences to Jaipur while celebrating Rajasthan’s cultural legacy.

The signing follows ITC Hotels’ recent expansion announcements in Bhubaneswar, Dehradun, and Hyderabad, reinforcing its long-term commitment to growing its hospitality portfolio across emerging and established markets in India.

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