Sterling Posts Record Q1 Results, Eyes Bigger Growth in FY26

Sterling Posts Record Q1 Results, Eyes Bigger Growth in FY26

By Manu Vardhan Kannan

Published on August 8, 2025

Sterling Holiday Resorts Ltd. has kicked off FY26 with a record-breaking first quarter, reporting its highest-ever Q1 performance. The hospitality company posted ₹1,392 million in revenue, marking an 8% year-on-year growth, while EBITDA surged by 25% to ₹514 million. With Profit Before Tax rising 27% to ₹371 million, the company continues to operate debt-free, holding cash reserves of ₹2,963 million.

Sterling’s performance reflects strong demand for experiential holidays, as well as disciplined cost management. Despite expanding room inventory by 21% year-on-year, the company maintained pricing strength with Average Room Rates (ARR) steady at ₹7,089. Room revenue rose by 11%, while Food & Beverage revenue saw a 16% increase, a sign of balanced and healthy growth.

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Vikram Lalvani, Managing Director and CEO of Sterling Holiday Resorts Ltd., said, “This quarter marks the start of a pivotal shift for Sterling, from a phase of transformation to one of high-performance execution. With a strong foundation in people, brand, and technology, we are now poised to scale with purpose, delivering exceptional holidays while creating lasting value.”

The company expanded its footprint by adding two new resorts: Sterling Kastoori in Rudraprayag and Sterling Vanavasa in Lansdowne, bringing the total to 54 destinations nationwide. Sterling has built a dominant presence in states like Rajasthan, Uttarakhand, Tamil Nadu, and Kerala, with strong offerings across wildlife destinations and the Himalayas.

Guest experience remains a key strength, with 30 resorts receiving Trip Advisor Travelers’ Choice Awards. Notably, Sterling Kanha earned the “Best of the Best” award for the third consecutive year, reinforcing Sterling’s commitment to outstanding service.

Sustainability is also central to Sterling’s growth strategy. Through its Sterling Sankalp initiative, the company expanded solar and heat pump installations and replaced plastic bottled water with in-house bottling across multiple resorts. Additionally, in partnership with the Fairfax India Charitable Foundation, Sterling facilitated the installation of dialysis machines in seven hospitals, extending its impact beyond hospitality.

Looking ahead, Sterling is set to accelerate its growth in FY26 with a pipeline of over 20 new resorts. Supported by strong travel trends and investments in technology, people, and brand, the company is transitioning into a new era of responsible scaling and guest delight across India.


Lemon Tree Hotels Expands in Maharashtra with New Nashik Property

Lemon Tree Hotels Expands in Maharashtra with New Nashik Property

By Manu Vardhan Kannan

Published on August 28, 2025

Lemon Tree Hotels has announced the signing of its latest property, Keys Select by Lemon Tree Hotels, Mhasrul, Nashik. The new hotel will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary of Lemon Tree Hotels Limited.

The property will feature 50 well-appointed rooms, a restaurant, and a banquet, offering both leisure and business travelers a comfortable stay. Conveniently located, the hotel is about 16 km from Nashik International Airport and 15 km from Nashik Railway Station, with easy access to public and private transport.

Situated on Saputara-Nashik Road, the location benefits from strong connectivity to Gujarat. The area is emerging as a key industrial hub with major companies such as Reliance and Godrej already established there.

Speaking about the signing, Vilas Pawar, CEO, Managed & Franchise Business, Lemon Tree Hotels, said, “We are delighted to reinforce our presence in Maharashtra. This signing aligns with our broader strategy for sustained growth across key markets. This addition reinforces our growing footprint in the state, where we currently operate 14 hotels and have nine more upcoming ones.”

This new signing strengthens Lemon Tree Hotels’ presence in Maharashtra and highlights its commitment to expanding across important business and leisure destinations.


ITC Hotels Expands Storii Brand with New Signing in Wayanad

ITC Hotels Expands Storii Brand with New Signing in Wayanad

By Manu Vardhan Kannan

Published on August 28, 2025

ITC Hotels Limited has expanded its boutique brand Storii with the signing of a new property in Kerala. The group announced definitive agreements with Silvercastle Holidays and Resorts (India) Private Limited for the 62-key Storii by ITC Hotels Wayanad Silverwoods, located alongside the scenic Banasura Sagar Dam in Wayanad.

Currently operating under another identity, the property will undergo extensive renovation before reopening under the Storii brand. This development marks the debut of Storii by ITC Hotels in Kerala, further strengthening the chain’s growing presence in the state. ITC Hotels now has a pipeline of three properties in Kerala.

Speaking about the expansion, Anil Chadha, Managing Director, ITC Hotels Limited, said,
“Kerala’s diverse landscapes and rich cultural heritage makes it a compelling destination for our loyalists. We are thrilled about our partnership with Silvercastle Holidays and Resorts and look forward to adding this experience to our Brand Storii’s portfolio.”

Adding to this, Benny John Kuppail, Managing Director of Silvercastle Holidays and Resorts (India) Private Limited, said,
“We are delighted to be the first hotel of the Storii by ITC Hotels brand in Kerala and believe this new identity will give us the opportunity to showcase our rich and diverse history and simultaneously set a new benchmark for a sustainable and eco-friendly hospitality footprint in the state.”

Storii by ITC Hotels is a collection of handpicked boutique properties catering to the evolving needs of global travellers. These premium-segment hotels are designed as intimate experiences at both popular and unexpected destinations.

With a portfolio of more than 140 hotels across 90 destinations and over 13,000 keys, ITC Hotels is among India’s leading luxury chains. Known for its philosophy of “Responsible Luxury,” the group integrates sustainability into its hospitality model. ITC Hotels is the world’s first chain to achieve 23 LEED Platinum certified hotels, along with pioneering LEED Zero Carbon and LEED Zero Water certifications.

The group operates under six distinct brands: ITC Hotel and Mementos in the luxury segment, Welcomhotel in the upper upscale space, Storii in the premium boutique category, Fortune in the mid-market to upscale space, and WelcomHeritage in the heritage leisure segment.


Cinépolis Launches Foovies, Blending Food and Movies into One Experience

Cinépolis Launches Foovies, Blending Food and Movies into One Experience

By Hariharan U

Published on August 27, 2025

Cinépolis India, the country’s first international cinema exhibitor, has unveiled Foovies a fresh concept that reimagines what a movie outing can be. Introduced in Hyderabad, Foovies brings together India’s two biggest passions food and cinema under one roof.

Traditionally, a movie night meant dinner followed by a film. Cinépolis has fused the two into a seamless in-theatre dining experience where guests can enjoy indulgent, freshly prepared meals while watching their favourite films. It’s not just snacking anymore; Foovies transforms cinema food into a curated culinary affair.

The menu moves far beyond the expected popcorn and cola. Patrons can now savour pizzas, wraps, fries, nachos, samosas, and even rich in-house desserts, all prepared fresh. With this shift, Cinépolis is positioning itself not just as a multiplex, but as a lifestyle destination where food and entertainment converge.

To celebrate the launch, Cinépolis has introduced Foovies25, a special offer giving 25% off on both food and movie tickets. Club Cinépolis members will also benefit from earning and redeeming loyalty points on food and beverage purchases.

Speaking on the launch, Devang Sampat, Managing Director, Cinépolis India, said, “At Cinépolis, we don’t just showcase films, we craft experiences. Foovies is our bold step to make every movie visit an immersive lifestyle indulgence, blending the joy of cinema with the comfort of world-class food”.

Since its entry into India in 2009, Cinépolis has been at the forefront of cinema innovation, from luxury recliners and Dolby sound to its much-loved fresh popcorn. With Foovies, it takes the experience a step further transforming theatres into dining destinations and offering audiences a new way to enjoy cinema.

About Cinépolis India:

Cinépolis India is a group company of Cinépolis and the first international cinema exhibitor to enter the country. Today, it operates 449 screens under the brands Cinépolis, Cinépolis VIP, and Fun Cinemas. Known for innovations like luxury cinemas, Cinépolis Junior (a child-friendly auditorium concept), and its popular loyalty program Club Cinépolis, the brand continues to set benchmarks in entertainment. Over the years, it has also been recognised with several awards, including “India’s Top Multiplex Chain of the Year” and “Most Admired Retailer of the Year: Best Turnaround” at MAPIC India 2023.

With Foovies, Cinépolis is once again reshaping the way India consumes entertainment, making every movie outing a blend of great flavour, comfort, and storytelling.

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