Even as global markets faced geopolitical tensions, travel disruptions and economic uncertainty, India’s hospitality and tourism sector continued to show resilience in FY26. Strong performances from major industry players including IHCL, ITC Hotels, Chalet Hotels, Tourism Finance Corporation of India Ltd. (TFCI), and Ventive Hospitality indicate that the industry remains on a steady growth path.

The Indian Hotels Company Limited (IHCL) has announced its consolidated financial results for the fourth quarter and full year ending March 31st, 2026, achieving its sixteenth consecutive quarter of record performance. For the full financial year FY2025-26, IHCL reported revenue of INR 9,971 crores, reflecting a 16% year-on-year growth. The company recorded EBITDA of INR 3,477 crores and delivered its highest-ever Profit After Tax (PAT) of INR 2,084 crores.

For Q4 FY2026, IHCL posted consolidated revenue of INR 2,845 crores, marking a 14% increase over the previous year. EBITDA stood at INR 1,052 crores with an EBITDA margin of 37%, despite challenges arising from the West Asia conflict.

Commenting on the performance, Puneet Chhatwal, Managing Director & CEO, IHCL, said, “Q4 FY2026 marks sixteenth consecutive quarter of record performance with a Consolidated revenue of INR 2,845 crores, a 14% growth over the previous year, EBITDA of INR 1,052 crores and an EBITDA margin of 37%, notwithstanding the impact of West Asia conflict. For FY2026, the company delivered on its guidance of double-digit revenue growth despite macro-headwinds with revenue of INR 9,971 crores, a growth of 16% leading to an all-time high EBITDA of INR 3,477 crores, EBITDA margin of 34.9% resulting in the best ever PAT of INR 2,084 crores.”

He further added, “IHCL, led by its multi-brand presence across segments coupled with a balanced growth strategy focused on capital light with select investments has delivered consistent performance over sixteen quarters.”

During FY2026, IHCL introduced three new brands, increasing its portfolio of major brands to fourteen. The company also achieved a milestone of 250 hotel signings, taking its overall portfolio to 630 hotels with a pipeline of 255 hotels.

The company further expanded through both inorganic and organic growth, opening or onboarding over 130 hotels across segments. Its expansion strategy strengthened its position in luxury, experiential leisure, and mid-scale hospitality markets.

IHCL also maintained a strong financial position with a gross cash balance of INR 4,345 crores as of March 31st, 2026. The company has proposed a dividend of 25% of Consolidated PAT before exceptional items, including a special dividend to mark IHCL’s 125th Annual General Meeting.

ITC Hotels reported a strong financial performance for FY26, with consolidated revenue from operations reaching Rs 4,139 crore, up 16 percent year-on-year. EBITDA stood at Rs 1,424 crore, recording a 21 percent rise on a comparable basis, while Profit After Tax (PAT) increased by 39 percent to Rs 888 crore. The company also announced a dividend recommendation of Rs 1 per share for the financial year ended March 31, 2026.

The company witnessed growth across room revenues, food and beverage operations and management fees. Room revenue increased by 10 percent, supported by growth across retail, MICE, contracted business and wedding segments. Average Daily Rates (ADR) rose by 6 percent while occupancy improved, leading to an overall RevPAR growth of 10 percent. ITC Hotels also maintained a RevPAR premium of 37 percent over industry benchmarks.

Expansion remained a key focus area for ITC Hotels during FY26. The company signed a record 33 hotels with over 3,300 keys and now has a managed hotel pipeline of 67 hotels with around 6,700 keys. New projects announced at Visakhapatnam and New Delhi reflect the company’s larger target of reaching 250 operational hotels with more than 22,000 keys by 2031.

Chalet Hotels Limited also delivered a strong FY26 performance. Consolidated revenue excluding residential operations stood at Rs 2,070 crore, reflecting an 18 percent increase year-on-year. EBITDA reached Rs 960 crore, up 21 percent, while Profit After Tax touched Rs 650 crore.

The company crossed the 5,000-key portfolio milestone, including projects under development. Expansion plans continued with a 330-key luxury hotel in Hyderabad and a 144-key premium resort in Udaipur added to the pipeline.

Speaking on the company’s performance, Shwetank Singh, MD & CEO, Chalet Hotels Limited, said: "Despite a year shaped by geopolitical volatility, aviation sector disruptions and extreme weather events, Chalet Hotels delivered a resilient operational and financial performance in FY26, underscoring the strength of its diversified business model and premium portfolio."

Tourism Finance Corporation of India Ltd. also reported healthy growth with Profit After Tax rising 19 percent to Rs 123.46 crore during FY26. Assets Under Management grew by 29 percent and Net Interest Income increased by 36 percent. The company significantly improved asset quality with Gross NPA reducing to 0.37 percent, while Net NPA remained NIL.

Ventive Hospitality recorded one of the strongest jumps among the companies, reporting consolidated revenue of Rs 2,666 crore, up 24 percent year-on-year. EBITDA grew by 28 percent to Rs 1,299 crore, while full-year PAT surged to Rs 502 crore, marking a substantial rise compared to the previous year.

The company also expanded its portfolio through acquisitions and strategic investments, including Sol De Goa and Soho House-related expansion rights in India. Ventive’s hospitality segment revenue reached Rs 1,980 crore, with strong growth across both Indian and international operations.

Ranjit Batra, Chief Executive Officer, Ventive Hospitality said: “FY26 marks a defining chapter for Ventive, not just in numbers, but in the direction we are building towards. A 939% surge in full-year PAT and 28% consolidated EBITDA growth, reflect the strength of our model and the discipline behind every decision we make.”

Despite geopolitical tensions, global market volatility and travel disruptions across international markets, India’s hospitality sector continued to maintain a strong growth story in FY26. Financial performances announced by leading hospitality companies suggest that travel demand, expansion plans and premium experiences continue to drive the sector forward.

Among the latest companies to report strong numbers was Sterling Holiday Resorts Limited, which recorded its best-ever Q4 performance and completed its 25th consecutive profitable quarter. During Q4 FY26, Sterling reported revenue of ₹1,409 million, up 14 percent year-on-year, while Profit Before Tax stood at ₹206 million. For the full year, revenue reached ₹5,487 million and EBITDA stood at ₹1,701 million.

Sterling’s resort business remained its primary growth engine, with room revenue increasing by 21 percent during FY26 and occupancy improving to 64 percent during Q4. The company also expanded aggressively, crossing 78 resorts, hotels and retreats across 65 destinations, with plans to reach 95 resorts and 4,500 rooms by 2027.

Commenting on the performance, Vikram Lalvani said: “Q4 FY26 was a record-breaking quarter across all key operating and financial metrics. Sterling delivered its best-ever Q4 Revenue, EBITDA and Profit Before Tax while completing its 25th consecutive profitable quarter.”

Mahindra Holidays & Resorts India Ltd also reported strong operational growth supported by accelerated inventory expansion. During FY26, the company added nearly 900 keys, while resort revenue grew by 12 percent to ₹443 crore. Occupancy remained healthy at 81 percent, despite expansion across the portfolio.

The company also witnessed growth in membership upgrades and Average Unit Realisation (AUR), with cumulative members crossing 3 lakh customers. Seven new managed resorts were added during the year as part of its network expansion plans.

Managing Director and CEO Manoj Bhat said: “In our India business, we continued to execute on all aspects of our growth strategy. Network expansion with enhanced quality accelerated with 7 new managed resort additions during the year.”

Brigade Enterprises also delivered a strong FY26 performance with annual pre-sales reaching ₹7,424 crore and Q4 sales touching ₹2,521 crore. The company’s hospitality portfolio recorded occupancy levels of 76 percent, while Average Room Rates increased by 11 percent during FY26. Revenue from the hospitality segment grew to ₹604 crore, reflecting continued travel demand and operational strength.

Eco Hotels and Resorts also continued to scale its operations through portfolio growth and an asset-light expansion strategy. The company reported FY2026 revenue of ₹498.91 lakh, significantly higher than the previous year. The company strengthened its portfolio through property additions and equity support aimed at long-term expansion.

Vinod K. Tripathi, Chairman, Eco Hotels and Resorts Limited, said: “FY2026 marks a pivotal year for Eco Hotels and Resorts as we accelerated our expansion strategy and significantly scaled up our operations.”

Planet Hotels & Resorts also reported positive growth momentum during 2025, recording around 11 percent revenue growth and a 9 percent increase in occupancy across its key markets in Goa and Thane. The group attributed its growth to stronger domestic tourism demand, improving corporate travel and rising interest in experience-led stays.

The company also announced expansion plans across Goa, Haridwar and Lucknow, while continuing to strengthen its presence in destinations including Powai and Manali.

Atul Neharkar, AVP Sales, Planet Hotels & Resorts, said: “We are encouraged by the strong growth momentum witnessed over the past year, particularly across our key markets of Thane and Goa.”

According to a new JLL report, India’s hospitality sector witnessed a major rise in investment activity in 2025, reflecting growing confidence in the country's tourism and hotel market. Hotel investments touched nearly USD 567 million through 28 transactions during the year, marking a strong 67% increase compared to USD 340 million recorded in 2024.

The report highlighted that investment activity is no longer limited to traditional business hubs. Tier II and III cities continued to strengthen their position in India’s hotel growth story, accounting for around 40% of the total transaction volume. These emerging destinations included luxury resorts in Rishikesh, upper-upscale properties in Goa, and upscale to midscale developments across cities such as Ludhiana, Nashik, Vadodara, Udaipur, and Lonavala.

The investment mix also showed a broad spread of participants. Institutional investors and Private Equity firms accounted for 35% of the overall transaction volume, leading the market. High Net-worth Individuals (HNIs), family offices and private hotel owners followed with 27%, while listed hotel companies contributed 25%. Real estate developers and owner-operators made up the remaining share.

Commenting on the market trend, Gaurav Sharma, Managing Director, Hotels, India & Senior Director, Hotels Capital Markets, Asia, said:

"India’s hotel investment market is reflecting a clear step-up in both investor confidence and market depth, with rising transaction activity supported by a broader mix of institutional and domestic capital. What is particularly encouraging is the continued expansion beyond gateway cities, with Tier II and III markets steadily evolving into more mature, investment-grade destinations backed by improving operating performance and scalability. This shift is meaningfully expanding the investable universe and enabling more strategic capital deployment across geographies. The momentum has carried strongly into 2026, with a robust start to the year underscoring sustained capital appetite. Beyond volumes, we are seeing increasing sophistication in how capital is being deployed, through platform-led strategies and institutional partnerships, signaling a more mature and organized investment landscape. At the same time, strong asset performance has introduced a degree of supply-side discipline, with high-quality hotels being tightly held, making available opportunities more selective and highly sought after."

The report also highlighted strong growth in branded hotel development. In 2025, hotel signings reached 51,647 keys across 424 properties, reflecting a 23% rise over the previous year. Notably, 71% of these signings were concentrated in Tier II and III cities, showing the increasing spread of organised hospitality into emerging destinations.

Management contracts remained the preferred operating model, increasing from 81% in 2024 to 84% in 2025. Franchise agreements remained stable at 14%, while lease and revenue-sharing arrangements saw a decline.

Greenfield development activity also gained momentum, reaching around 33,170 keys in 2025 and surpassing the previous year by 17%. Large-format hotels with over 250 keys also witnessed growth, increasing from 21 signings in 2024 to 29 in 2025.

The momentum has continued into 2026 as well. During the first quarter of the year, hotel transaction volumes reached nearly USD 185 million, a 58% increase compared to USD 117 million in Q1 2025. Major activity included Warburg Pincus acquiring a 41% stake in Fleur Hotels, a subsidiary of Lemon Tree Hotels, with a USD 107 million investment commitment for future portfolio expansion.

Across the industry, recurring themes have emerged premiumisation, destination-led experiences, expansion into Tier II and Tier III markets and stronger demand for leisure-led travel. While global conditions continue to create temporary uncertainties, industry performance indicates that India’s hospitality sector remains firmly on a long-term growth trajectory.

While geopolitical developments and global turbulence impacted travel sentiment in some markets, these performances indicate that India’s hospitality sector continues to maintain growth momentum. Expansion into new destinations, stronger demand for premium experiences and continued investment across hospitality assets suggest a positive outlook for the industry ahead.

Alia Bhatt made a striking appearance at the 79th edition of the Cannes Film Festival, wearing bespoke sapphire and diamond jewellery from Malabar Gold and Diamonds, blending refined craftsmanship with contemporary elegance on one of the world’s most celebrated red carpets.

Styled in a custom ensemble by Rhea Kapoor, Alia paired her Cannes look with a curated selection of high jewellery pieces featuring Ceylon sapphires and diamonds from the jewellery brand’s premium collection.

The jewellery edit showcased statement earrings, sapphire rings, and a diamond pendant crafted with contemporary detailing and precision artistry. Together, the pieces reflected a balance of sophistication, gemstone craftsmanship, and understated luxury.

Among the standout creations were the White Quartz Briolette Earrings, featuring 3-carat pear-shaped earrings designed with fluid white quartz briolettes that moved elegantly with light and motion.

Adding depth to the overall styling were statement rings including the Ceylon Sapphire Oval Ring, centred around an 8-carat oval Ceylon sapphire surrounded by brilliant round diamonds, enhancing the gemstone’s rich ocean-blue tones and brilliance.

The look also featured the Pear-Shaped Ceylon Sapphire Ring, showcasing 8.8 carats of Ceylon sapphire designed to resemble a falling raindrop, highlighting remarkable clarity and depth.

Completing the ensemble was the Pear-Shaped Diamond Pendant, featuring a 4-carat pear-shaped diamond suspended in a minimal and refined setting, creating a graceful stream of reflected light.

The Cannes appearance further highlighted Malabar Gold & Diamonds’ continued focus on fine craftsmanship, gemstone quality, and modern design interpretation, while also reinforcing the growing global presence of Indian jewellery artistry across international fashion and cultural platforms.

Commenting on the collaboration, M. P. Ahammad said, “Cannes Film Festival represents a global platform where fashion, artistry, and craftsmanship come together. Through this collaboration with Alia Bhatt, we wanted to present jewellery that reflects timeless elegance while showcasing the finesse and design excellence associated with Malabar Gold & Diamonds.”

Founded in 1993, Malabar Gold & Diamonds is the flagship company of the Malabar Group and currently operates over 445 showrooms across 14 countries. The brand continues to expand its global footprint through a strong focus on luxury craftsmanship, international design sensibilities, and socially responsible business practices.

Alia Bhatt’s Cannes 2026 appearance marks another milestone for the brand as Indian luxury and jewellery craftsmanship continue gaining visibility on global fashion platforms.

Adani Airport Holdings Limited (AAHL) and IHG Hotels & Resorts have entered into a major partnership to develop five hotels across important airport-linked and fast-growing urban destinations in India. The agreement will add close to 1,500 rooms and marks a significant step in strengthening hospitality infrastructure around India’s expanding aviation network.

One of the biggest highlights of the partnership is the India debut of Kimpton Hotels & Restaurants, which will open its first property in Jaipur. Alongside this, additional properties under Holiday Inn and Holiday Inn Express brands will be introduced as part of mixed-use developments connected to Adani Airport cities.

The planned projects will be spread across Jaipur, Navi Mumbai, Mangaluru, and Thiruvananthapuram. The collaboration reflects the increasing demand for hospitality services around airport-led developments and growing urban centres. Reports also suggest that AAHL and IHG are in advanced discussions to further expand their partnership.

Kimpton’s entry into India brings a globally recognised lifestyle hospitality brand known for its boutique experiences and design-led approach. Its launch signals the rising demand for premium hospitality experiences, especially around airports and urban developments.

The expansion also comes at a time when India’s aviation and tourism sectors continue to witness strong growth. Increasing passenger traffic and business travel are driving the need for integrated airport ecosystems that go beyond transport and include hospitality, retail, and commercial spaces.

Speaking on the development, Pranav Adani, Director, Adani Enterprises Limited, said: “As the Adani Group expands its presence across hospitality and airport-led urban infrastructure, our vision is to create world-class destinations that seamlessly integrate travel, stay and urban experiences around India’s rapidly growing aviation ecosystem. We are building this platform in partnership with leading international hotel brands that bring global standards, operational excellence and scale. Our collaboration with IHG Hotels & Resorts, and the development of five hotels across key gateway destinations, marks an important step in strengthening high-quality hospitality infrastructure aligned with India’s long-term travel and economic growth.”

AAHL continues to build airport city developments that combine aviation, hospitality, retail, and commercial infrastructure. Its airport city projects currently span around 663 acres across multiple locations with a focus on long-term urban growth and passenger experience.

Commenting on the partnership, Sudeep Jain, Managing Director, South West Asia, IHG Hotels & Resorts, said: “The partnership with Adani Airport Holdings reflects the scale of opportunity we continue to see in India’s hospitality sector, particularly across gateway cities and airport-led developments that are witnessing strong demand from business, leisure and transit travellers alike. With a mix of luxury, premium and essentials brands, this portfolio allows us to meaningfully strengthen our presence across high-growth markets across the country. This agreement also marks an important milestone for us with the introduction of Kimpton Hotels & Restaurants to India.”

IHG Hotels & Resorts currently operates 52 hotels across six brands in India and has a pipeline of 98 more properties expected to open over the next three to five years.