Indian Hotels Company Limited (IHCL) has announced its consolidated financial results for the third quarter and nine months ended December 31, 2025, marking its fifteenth consecutive record quarter.

For Q3 FY2025-26, IHCL reported consolidated revenue of INR 2,900 crores, reflecting a 12 per cent year-on-year growth. EBITDA stood at INR 1,134 crores with a margin of 39.1 per cent, while Profit After Tax (PAT) reached INR 903 crores after exceptional items.

PAT for the quarter included exceptional gains primarily from the sale of the entire equity stake in a joint venture company amounting to INR 327 crores (net of tax) and an impact of INR 37 crores (net of tax) related to New Labour Codes. In the previous year’s nine-month period, PAT included a one-time exceptional gain of INR 307 crores on account of TajSATS consolidation.

Puneet Chhatwal, Managing Director and CEO, IHCL, highlighted that the quarter’s performance was driven by strong same-store growth as well as non-like-for-like growth. Airline and institutional catering revenues grew by 17 per cent, while new businesses expanded by 31 per cent. The hotel segment reported revenue of INR 2,579 crores, delivering its highest-ever quarterly EBITDA of INR 1,050 crores.

IHCL’s growth trajectory continued through FY2026, with 239 signings during the period, taking its total portfolio to 617 hotels. The company opened and onboarded 120 hotels, supported by strategic partnerships and acquisitions. It now maintains an industry-leading pipeline of 256 hotels.

Under its Accelerate 2030 strategy, IHCL strengthened its brand portfolio with a controlling stake acquisition in Atmantan, an integrated wellness brand. The company also entered into definitive agreements to acquire a 51 per cent stake in Brij, a boutique experiential leisure brand, and scaled the Ginger brand through a 51 per cent acquisition in ANK & Pride Hospitality.

As of December 31, 2025, IHCL Consolidated reported a gross cash balance of INR 3,877 crores, maintaining a strong balance sheet position.

Ankur Dalwani, Executive Vice President and Chief Financial Officer, stated that IHCL Standalone delivered Q3 revenue of INR 1,654 crores, achieving an EBITDA margin of 48.2 per cent, an expansion of 40 basis points, and a PAT of INR 921 crores post exceptional items.

During the nine months ended December 2025, IHCL Consolidated generated cash flows of approximately INR 1,600 crores and incurred capital expenditure of INR 750 crores. Investments were directed toward greenfield developments at Ekta Nagar and Taj Frankfurt, brownfield expansion at Taj Ganges Varanasi, and the upcoming Taj Bandstand project. Renovations were also undertaken at key properties including Taj Palace New Delhi, Taj Fort Aguada Goa, President Mumbai and St. James’ Court London.

With a diversified topline across brands, geographies and contract formats, IHCL remains well positioned to sustain its growth momentum in the coming quarters.

Marriott International has reported another year of exceptional expansion in its Asia Pacific excluding China (APEC) region, marking its third consecutive year of record-breaking development activity in 2025.

The region signed 187 organic deals in 2025, representing more than 28,000 rooms, a 32 per cent year-over-year increase. By the end of the year, Marriott’s APEC pipeline exceeded 400 hotels and more than 86,000 rooms, reflecting sustained intra-regional and international travel demand, alongside continued owner confidence.

Rajeev Menon, President, Asia Pacific excluding China, Marriott International, highlighted that strong demand trends and a diversified brand portfolio have enabled the company to scale strategically across markets, segments and development models.

Record Development and Owner Confidence

Conversions remained a major growth driver, accounting for 35 per cent of total signings, offering owners speed-to-market and access to Marriott’s global distribution network. Multi-unit agreements represented nearly 30 per cent of signings, signalling growing appetite among owners to scale portfolios under a single hospitality platform.

The top five growth markets in APEC during 2025 were India, Thailand, Vietnam, Malaysia and Japan. India led the region with a record 99 signings, representing over 12,000 rooms.

A notable milestone was the launch of Series by Marriott™ in India through a founding multi-unit agreement that converted 26 hotels in a single day, adding approximately 1,900 rooms. Operating as Fern Hotels & Resorts, Series by Marriott, the brand debuted globally in India and reached 37 open properties across 23 cities by the end of 2025.

Strong Luxury and Lifestyle Momentum

Luxury remained a strategic priority, accounting for approximately 19 per cent of 2025 organic room signings. Brands such as JW Marriott, The Ritz-Carlton and The Luxury Collection recorded the highest number of luxury signings.

Key luxury developments announced in 2025 include:

• JW Marriott Hotel Johor Bahru (expected 2027), marking the brand’s anticipated arrival in Malaysia’s southern state.

• Pottuvil, a Ritz-Carlton Reserve (expected 2032), set to debut along Sri Lanka’s eastern coast.

• The Ritz-Carlton, Fiji, Namuka Bay (expected 2032), marking the brand’s entry into Fiji’s Coral Coast.

• Fraser’s House, a Luxury Collection Hotel, Singapore (opened January 2026), strengthening the brand’s presence in Singapore.

Marriott also sustained momentum across midscale and lifestyle segments. The launch of Series by Marriott in India and the continued growth of Four Points Flex by Sheraton reflect its strategy to expand flexible, design-forward offerings tailored to evolving traveller preferences.

Portfolio Milestones and Emerging Destinations

In 2025, Marriott opened 109 properties across the APEC region and celebrated the opening of its 700th property in the region: Legacy Mekong, Can Tho, Autograph Collection. Located on a private islet in Vietnam’s Mekong Delta, the opening underscores the company’s strategy to expand into culturally rich and high-growth emerging destinations.

By the close of 2025, Marriott operated more than 730 properties across 22 countries in APEC, spanning 27 brands.

Notable 2025 openings included:

• The Laurus, a Luxury Collection Resort in Singapore (October 2025), marking the brand’s debut in the city.

• The Halcyon Private Isles Maldives, Autograph Collection (October 2025), offering two private islands in the Maldives.

• The Farm at San Benito, Autograph Collection (December 2025), introducing the brand to the Philippines with a wellness-focused concept.

• Moxy Kathmandu (December 2025), marking the lifestyle brand’s debut in Nepal.

With a robust development pipeline and diversified portfolio across luxury, premium, select-service and midscale segments, Marriott’s APEC region enters 2026 well positioned to continue delivering sustained growth and long-term value for owners and guests.

Emirates is celebrating Valentine’s Day with a curated selection of sweet treats, premium rosé Champagne, themed lounge experiences and romantic entertainment across its network on 14 February.

Celebrating Love in the Sky

On Valentine’s Day, customers travelling in Economy and Premium Economy Class will receive a mini gift box featuring a raspberry chocolate brownie, while aircraft cabins glow under soft red mood lighting. First and Business Class passengers will be treated to indulgent chocolate brownies and mini raspberry ganache tarts decorated with hearts.

Onboard the airline’s iconic Airbus A380, the Onboard Lounge will offer an assortment of desserts including lemon and raspberry cupcakes, profiteroles and mini tarts, creating a festive ambience at 40,000 feet.

First Class customers will be welcomed with a glass of Dom Pérignon Rosé 2009, an exclusive vintage available onboard Emirates. The cuvée highlights pinot noir with aromas of raspberry and cherry, complemented by notes of cassis, fig, rose, orange oil, saffron, gingerbread and liquorice.

Business Class travellers can enjoy Moët & Chandon Rosé Impérial, known for its vibrant fruit profile featuring wild strawberry, raspberry and red cherry, accented by subtle floral notes and a touch of spice.

Love in the Lounges

From 13 to 15 February, Emirates Lounges in Dubai will serve a selection of Valentine’s-themed desserts. First Class guests can savour raspberry vanilla cake, pistachio strawberry cake and red velvet cake, paired with cocktails such as Love Potion and Whispered Hearts. Rosé Champagne will be served alongside gourmet canapés including marinated lobster en feuilleté and truffle cream éclat.

Business Class lounge guests can indulge in red berries crunchy cake, strawberry and pistachio tart, raspberry choux and selections from a dedicated ice cream cart featuring strawberry cheesecake ice cream and raspberry and rose sorbet.

Across Emirates Lounges worldwide, Valentine’s-themed offerings will include heart-shaped ravioli in Rome, Valentine’s cupcakes in Cairo and chocolate-dipped strawberries in Sri Lanka.

Spotlight on Romance with Emirates ice

For inflight entertainment, Emirates’ award-winning system Emirates ice will feature a dedicated ‘Love Stories’ movie collection. Titles include new releases such as Regretting You, Workmates and Tyler Perry’s Finding Joy, alongside classics like 10 Things I Hate About You, The Notebook, Notting Hill and the full Bridget Jones collection.

The ‘Period Dramas’ folder includes favourites such as Sense & Sensibility, Pride & Prejudice and Sanditon. Romantic K-Dramas including Guardian: The Lonely & Great God, Lovely Runner and What’s Wrong with Secretary Kim will also be available. Customers can further set the mood with curated playlists such as Spotify’s Valentine’s Day Love Mixtape and Emirates’ Romantic Moments collection.

With indulgent flavours, premium Champagne and carefully curated entertainment, Emirates aims to make love truly take flight this Valentine’s Day.