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.

Suba Group of Hotels has proudly opened its Click Hotel property in Bhuntar, Kulllu, marking another step in the brand’s growing presence across India. Click Hotel Bhuntar by Suba Hotel Ltd. officially opened its doors on 13th february 2026.

Strategically located close to the Bhuntar airport, the hotel offers a quiet and comfortable retreat in one of Himachal’s most charming towns. Set along the scenic banks of the River Beas and surrounded by snow-covered peaks and lush green valleys, Bhuntar is a popular destination for nature lovers and adventure seekers visiting the Kullu Manali region.

Click Hotel Bhuntar features thoughtfully designed rooms with modern interiors and essential comforts aimed at ensuring a restful stay. The hotel offers a total of 26 well-appointed rooms, designed to balance comfort with convenience for both leisure and business travellers.

Guests can enjoy dining at the on-site multi-cuisine restaurant, which serves a mix of popular favourites and regional flavours in a relaxed and welcoming setting. Blending modern comfort with the calm of a hillside escape, Click Hotel Bhuntar promises a pleasant stay experience for visitors exploring the region.

The hotel offers a range of guest services including elegance-led service standards, free wifi, doctor on call, 24/7 travel support, in room locker facilities, and well-curated dining experiences, ensuring a smooth and comfortable stay.

Address: FRB Khata 107/124 & 108/125 Near BP Petrol Pump, Nagwain, Distt. Mandi, Himachal Pradesh - 175121.