Sterling Holiday Resorts Reports Record-Breaking Q3 Results with Double-Digit Growth

Sterling Holiday Resorts Reports Record-Breaking Q3 Results with Double-Digit Growth

By Nishang Narayan

Published on February 7, 2025

Sterling Holiday Resorts Ltd. has announced its strongest quarter yet in Q3 FY25, marking a milestone in the company’s growth trajectory. With 18 consecutive quarters of profitability, Sterling’s performance in Q3 surpassed even its traditionally dominant Q1, thanks to strategic portfolio expansion that strengthened revenue streams beyond peak seasons.

The company reported a 12% YoY income growth, reaching ₹1,389 Mn. EBITDA increased by 14%, with a solid 38.8% EBITDA margin, while EBIT rose 13% YoY.

Expanding Horizons: Three New Resorts Launched

Sterling’s portfolio now spans 48 locations with 57 resorts, hotels, and retreats in the upper-mid to upper-upscale segments. Strengthening its footprint, the company added three new resorts in Q3:

  • Sterling Lontano Waterfront Wayanad (Kerala)
  • Sterling Brookstone Coorg (Karnataka)
  • Sterling Bagh Ranthambore (Rajasthan)

Maintaining its rapid growth pace, Sterling has launched one resort per month for the past 18 months, with several more in the pipeline.

"Sterling has witnessed its strongest-ever quarter, a testament to our brand's growing preference among customers. A surge in holiday demand, coupled with our aggressive resort expansion, has fueled this success," said Vikram Lalvani, MD & CEO, Sterling Holiday Resorts.

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Food & Beverage Sees 20% Growth

Sterling’s food and beverage division has been another strong performer, recording a 20% YoY growth. The company attributes this to its enhanced dining experiences and a diverse range of culinary offerings across its properties.

Sustainability at the Core: Sterling Sankalp Initiative

Further strengthening its commitment to sustainability, Sterling has introduced Sterling Sankalp, an ESG initiative aimed at responsible tourism. The company has implemented key measures across several resorts, including:

  • Energy Conservation: Heat pumps for optimized energy use
  • Waste Management: Organic Waste Converters for eco-friendly disposal
  • Water Sustainability: Rainwater harvesting and water recycling programs

Looking Ahead

On a year-to-date (YTD) basis, Sterling has achieved a 14% growth in income (₹3,842 Mn) and a 35% EBITDA margin, showcasing its sustained upward trajectory. With an expanding portfolio, a thriving food and beverage sector, and a strong focus on sustainability, Sterling continues to solidify its leadership in the hospitality industry.


Lemon Tree Hotels Opens Keys Prima in Mussoorie, Expands Uttarakhand Portfolio to 10 Hotels

Lemon Tree Hotels Opens Keys Prima in Mussoorie, Expands Uttarakhand Portfolio to 10 Hotels

By Manu Vardhan Kannan

Published on August 2, 2026

Lemon Tree Hotels Limited has announced the opening of Keys Prima by Lemon Tree Hotels, Kempty Road, Mussoorie, marking the group's second operational property in the popular hill station. With this launch, the company has expanded its operational portfolio in Uttarakhand to 10 hotels, while 11 additional properties remain under development across the state.

The hotel is managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited. Nestled along Kempty Road against the scenic backdrop of the Garhwal Himalayas, the property features 47 thoughtfully designed rooms and suites across Superior, Deluxe, Executive and Studio Suite categories. Designed to cater to both leisure and social travellers, the hotel offers an upper midscale hospitality experience with a range of modern amenities.

Guests can enjoy all-day dining at Keys Café or relax with beverages at Unlock Bar. The property also features a swimming pool, fitness centre, spa, and a dedicated kids' zone. For meetings, conferences, weddings and social gatherings, the hotel offers Grand Chamber, a well-equipped banquet and conference venue.

Commenting on the opening, Vishvapreet Singh Cheema, President, Lemon Tree Hotels Ltd., said, "Uttarakhand continues to be one of the most prominent tourism markets in the country, with sustained demand across leisure, pilgrimage and MICE travel through the year. Mussoorie, in particular, is one of those rare destinations whose appeal has endured across generations, retaining its place as one of India's most loved hill stations. The opening of our second hotel here allows us to be part of the destination's timeless appeal while responding to the growing demand for trusted hospitality. With its location on Kempty Road and a product designed to bring together leisure, wellness, dining and celebrations, the hotel is well placed to appeal to the many ways in which guests experience Mussoorie."

The hotel offers convenient connectivity for travellers, located approximately 71 km from Dehradun's Jolly Grant Airport, 44 km from Dehradun Railway Station, and around 10 km from Mussoorie Library Bus Station.

The opening further strengthens Lemon Tree Hotels' multi-brand presence in Uttarakhand, a key market for the company's growth strategy. With 10 operational hotels and 11 more in the pipeline, the hospitality group continues to expand across the state's major leisure and pilgrimage destinations, catering to the rising demand for quality accommodation in one of India's leading tourism markets.


IAG Reports 16% Drop in Q2 Profit Amid Rising Fuel Costs and Middle East Conflict

IAG Reports 16% Drop in Q2 Profit Amid Rising Fuel Costs and Middle East Conflict

By Manu Vardhan Kannan

Published on August 2, 2026

International Airlines Group (IAG), the parent company of British Airways, Iberia, and Aer Lingus, has reported a 16% decline in second-quarter operating profit, citing higher fuel costs and weaker travel demand resulting from the ongoing Middle East conflict. The airline group also expects its overall capacity to remain flat for the rest of the year.

For the second quarter, IAG posted an operating profit before exceptional items of €1.41 billion, down from €1.68 billion during the same period last year. Despite the decline, the result slightly exceeded analysts' expectations of €1.37 billion.

The airline group said rising fuel prices and emissions-related expenses significantly impacted performance. During the second quarter, fuel costs and emissions charges increased by nearly 23% to €2.22 billion, affecting all of IAG's airlines from March onwards.

Although the company has slightly lowered its full-year fuel cost forecast to between €8.3 billion and €8.6 billion, compared with the approximately €9 billion projected in May, fuel remains one of its biggest financial challenges.

IAG stated that the prolonged conflict in the Middle East has weakened travel demand across several markets, adding pressure on airlines already facing elevated operating costs. The company had previously issued a profit and capacity warning in May as geopolitical uncertainty began affecting bookings.

The group's traditionally strong transatlantic business has also experienced pressure as changing travel patterns impact one of its most profitable markets.

Looking ahead, IAG said it is around 57% booked for the second half of the year, with booked revenue currently in line with the same period last year. The airline expects to offset approximately 60% of its higher fuel expenses through increased ticket prices and ongoing cost-efficiency initiatives.

The latest results reflect the broader challenges facing the aviation industry, with several European carriers reporting similar pressures from rising operating costs, geopolitical tensions, and softer travel demand in recent months.


IHCL Signs Gateway Hotel in Tiruchirappalli, Expands Presence in Tamil Nadu

IHCL Signs Gateway Hotel in Tiruchirappalli, Expands Presence in Tamil Nadu

By Manu Vardhan Kannan

Published on August 2, 2026

Indian Hotels Company (IHCL), India's largest hospitality company, has announced the signing of a Gateway hotel in Tiruchirappalli (Trichy), Tamil Nadu. The project will be developed as a greenfield property, further strengthening IHCL's presence in one of South India's key business and spiritual destinations.

Commenting on the signing, Ms. Suma Venkatesh, Executive Vice President, Real Estate & Development, IHCL, said, “As travel demand continues to grow beyond metros and Tier 1 cities, destinations such as Trichy are emerging as significant markets, supported by a diverse mix of business, education and religious travel. With its central location and access to the region's most revered sites, this signing reinforces IHCL's commitment to expanding its footprint in high-growth Tier-2 cities while strengthening our spiritual circuit in South India.”

Strategically located on the Grand Southern Trunk Road, the 176-key Gateway Tiruchirappalli will offer views of the Kaveri River and the iconic Rockfort Temple on one side, while overlooking the Sri Ranganatha Swamy Temple at Srirangam and Jambukeswara Temple at Thiruvanaikaval on the other.

The hotel will feature an all-day dining restaurant, a specialty restaurant, and a bar. Guests will also have access to a swimming pool, gym, health club, and spa, providing a complete leisure experience.

Designed to serve both business and social events, the property will offer over 5,000 sq. ft. of banquet space, along with meeting rooms, pre-function areas, and one acre of outdoor lawns suitable for weddings, celebrations, conferences, and corporate gatherings.

Speaking about the partnership, Mr. A. Bagurudeen, Try Alam Hotels Pvt. Ltd., said, “We are pleased to partner with IHCL to bring the Gateway brand to Tiruchirappalli. The city continues to witness steady growth across industries, creating demand for hospitality infrastructure.”

Tiruchirappalli is one of Tamil Nadu's leading cultural and pilgrimage destinations, known for landmarks such as the Rockfort Temple, Sri Ranganathaswamy Temple, and Jambukeswarar Temple at Thiruvanaikaval. The city's growing business, education, and tourism sectors continue to drive demand for quality hospitality infrastructure.

With the addition of this property, IHCL's portfolio in Tamil Nadu will grow to 33 hotels, including 14 under development.

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