The Indian Hotels Company Limited (IHCL) has reported its 18th consecutive record quarter, with consolidated revenue rising 21% year-on-year to ₹2,566 crore in Q2 FY2027. The company has also upgraded its full-year revenue growth guidance to 15–17%, supported by strong hotel performance, higher management fees and portfolio expansion.

For the quarter ended 30 September 2026, IHCL recorded EBITDA of ₹788 crore, with a margin of 30.7%, while profit after tax (PAT) increased 23% to ₹349 crore. Operating revenue grew 22%, while operating EBITDA rose 24%, accompanied by a 50-basis-point expansion in operating EBITDA margin.

The performance reflects growth across IHCL's operating portfolio, supported by higher revenue per available room (RevPAR), new hotel openings and contributions from recent acquisitions.

Domestic Demand and Portfolio Growth Drive Performance

Domestic same-store hotels recorded 25% growth in RevPAR, while management fee income also increased 25%, supported by the momentum of new hotel openings. IHCL's Select Service business reported 25% revenue growth, while recent acquisitions, including Brij and Atmantan, added to the quarter's performance.

Demand from social celebrations and meetings, incentives, conferences and exhibitions (MICE) also remains an important growth driver for the hospitality sector. With seasonally stronger quarters ahead, IHCL expects continued support from domestic travel demand, events and business generated by newly opened properties.

FY2027 Revenue Guidance Upgraded

Building on its first-half performance, IHCL has raised its consolidated revenue growth guidance for FY2027 from 12–14% to 15–17%. The company expects its hotel segment revenue to grow by 17–19%, supported by demand trends and non-like-for-like growth from new properties and portfolio additions.

The upgraded guidance signals management's confidence in sustaining growth through the remainder of the financial year. It also reflects the contribution expected from hotels added to the portfolio, alongside continued performance from existing properties.

Portfolio Reaches 670 Hotels

IHCL signed 47 hotel deals during the first half of FY2027 across its brand portfolio, taking its overall portfolio to 670 hotels. The company said it is now positioned to achieve its Accelerate 2030 target of a 700-hotel portfolio well ahead of schedule.

The expansion reflects IHCL's strategy of growing through a diversified brandscape and a mix of operating models. New signings and openings can strengthen its geographic reach and management fee income, while the performance of existing hotels remains central to revenue and margin delivery.

IHCL's latest results underline the importance of combining same-store hotel growth with expansion across brands and markets. With its full-year guidance upgraded and the portfolio nearing the 700-hotel milestone, the company is entering the second half of FY2027 with a stronger growth outlook.

Key Q2 FY2027 Highlights

• Consolidated revenue: ₹2,566 crore, up 21%

• EBITDA: ₹788 crore, up 21%

• EBITDA margin: 30.7%

• Profit after tax: ₹349 crore, up 23%

• Operating revenue growth: 22%

• Operating EBITDA growth: 24%

• Domestic same-store RevPAR growth: 25%

• First-half signings: 47 hotels

• Total portfolio: 670 hotels

• Revised FY2027 consolidated revenue growth guidance: 15–17%

• FY2027 hotel segment revenue growth guidance: 17–19%

ITC Hotels Limited has signed a management agreement for Welcomhotel by ITC Hotels Roorkee Mandawar, a 171-key property planned across 10 acres in Uttarakhand. The development will strengthen the hospitality group's presence in the region, catering to leisure travellers, wedding celebrations, social gatherings and corporate events.

Located in Mandawar, Roorkee, along the Delhi–Haridwar Highway, the upcoming hotel will benefit from connectivity to Delhi-NCR, Dehradun, Haridwar and Rishikesh. Its location also positions it as a potential gateway for travellers visiting the Char Dham pilgrimage routes and other leisure destinations across Uttarakhand.

The property will also be located near IIT Roorkee and the region's growing educational and industrial ecosystem, providing access to business and institutional travel demand alongside leisure tourism.

Facilities and Event Infrastructure

Welcomhotel Roorkee Mandawar will feature 171 rooms, suites and villas, supported by a range of dining, wellness and recreational facilities.

The planned dining offering will include an all-day dining restaurant, bar and lounge. For weddings, social functions and corporate gatherings, the property will provide 14,000 sq. ft. of indoor banquet space and more than 20,000 sq. ft. of outdoor event space.

Additional amenities will include a swimming pool, spa, fitness centre, salon and amphitheatre. The combination of accommodation, dining and event infrastructure is intended to position the hotel as a destination for celebrations and larger gatherings in the region.

ITC Hotels Strengthens Uttarakhand Presence

Commenting on the signing, Anil Chadha, Managing Director, ITC Hotels Limited, said Uttarakhand continues to emerge as an important tourism and hospitality market in North India, supported by pilgrimage, leisure and wellness demand.

He noted that the new Welcomhotel would strengthen the company's presence in the state while offering guests experiences rooted in Uttarakhand's culture, natural beauty and cuisine. He also highlighted the property's location and scale as important additions to ITC Hotels' asset-right expansion strategy.

Sanjay Bansal, Director, Mandawar Luxury Resorts Private Limited, said the project marks the company's first hospitality venture and expressed confidence that the Welcomhotel brand would bring operational expertise and an established hospitality legacy to the development.

He added that the partners aim to establish the hotel as a prominent wedding destination while contributing to Uttarakhand's tourism and economic development.

The signing adds to ITC Hotels' expansion pipeline and reflects the growing interest in hospitality developments that combine accommodation with wedding infrastructure, leisure facilities and access to regional tourism circuits.

With its location along the Delhi–Haridwar Highway, proximity to pilgrimage destinations and extensive event spaces, Welcomhotel Roorkee Mandawar is planned to serve multiple demand segments as Uttarakhand continues to develop its tourism and hospitality offerings

Le Travenues Technology Limited, the parent company of ixigo, has reported an all-time high profit after tax (PAT) of ₹63.42 crore for the second quarter of FY27, supported by growth across its travel businesses and a partial sale of its stake in Freshbus. The company's hotels business also emerged as a key growth driver, recording strong year-on-year growth in bookings and revenue.

The AI-based travel platform reported a gross transaction value (GTV) of ₹5,304.47 crore for the quarter ended September 30, 2026, marking a 22% increase compared with the same period last year. Revenue from operations grew 13% year-on-year to ₹320.96 crore, while contribution margin increased 14% to ₹124.86 crore. Profit before tax grew 37% year-on-year, excluding the employee stock option (ESOP) expense of ₹26.9 crore recorded in Q2 FY26. However, adjusted EBITDA, calculated as EBITDA plus ESOP expenses less other income, declined 17% year-on-year to ₹23.58 crore.

Hotels emerged as ixigo's fastest-growing business line by GTV, with a 159% year-on-year increase in hotel GTV and 528% growth in revenue. The company recorded hotel GTV of ₹111.34 crore in Q2 FY27, including Brevistay, while hotel revenue rose to ₹8.1 crore. The platform recorded more than 4.7 lakh room nights during the quarter, net of cancellations, representing 295% year-on-year growth. It also crossed 5,000 hotel room nights per day, with daily bookings growing 3.9 times compared with the previous year.

This quarter marks the first time ixigo has reported hotels as a separate business line. The company said the business has achieved a gross take rate of more than 12%, with over 86% of bookings coming from its existing user base. Its hotel network includes more than 70,000 properties across India, including over 12,000 directly contracted properties spread across 1,100 towns. The company continues to invest in hotel supply, product development and customer experience as it looks to expand its presence in the online hotel booking market.

Alongside hotels, flight and bus bookings contributed to ixigo's performance during the quarter. Flight GTV grew 37% year-on-year, while bus GTV increased 32%. The company also expanded its travel distribution through train bookings on Uber, building on its existing bus integration. Its food delivery service, Zoop, along with Swiggy, now serves more than 290 railway stations.

According to the company, higher airfares and limited availability of confirmed train tickets continued to support demand for intercity bus travel. AbhiBus also introduced its Women Zone booking option for solo women travellers, expanding its services for different passenger needs.

Commenting on the results, Aloke Bajpai, Group CEO; Rajnish Kumar, Group Co-CEO; and Saurabh Devendra Singh, Group CFO, said, “In Q2 FY27, we delivered resilient growth with Quarterly GTV of ₹5,304 Crores, up 22% YoY, and Revenue from Operations of ₹321 Crores, up 13% YoY. Our PAT was an all-time high aided by our partial sale of stake in Freshbus. Flight and Bus led the quarter with GTV growth of 37% and 32% YoY respectively. From this quarter onwards, we are disclosing a new line of business of Hotels which grew GTV 2.6x YoY to ₹111 Crores with a gross take rate of more than 12%. We continue to invest in Hotels and AI as key drivers of our long-term growth.”

With rising hotel bookings and continued growth across flight and bus services, ixigo is expanding its travel platform while investing in technology, accommodation supply and customer experience. The latest results highlight the growing contribution of hotels to the company's business as it looks to strengthen its position in India's online travel market.