Indian Hotels Co. Ltd. · NSE:INDHOTEL
Indian Hotels — The Indian Hotels Company — Q1 FY27 Earnings Presentation
39 slides from Indian Hotels's earnings presentation, Jul 21, 2026
Slide 1: Diversified by Design, Built to Compound
DIVERSIFIED BY DESIGN, BUILT TO COMPOUND GLOBAL CONFERENCE CALL Q1FY27 21st July 2026 1
Slide 2: Crowned India's Strongest Brand 2026
CROWNED INDIA'S STRONGEST BRAND 2026 Five Consecutive Wins Report by Brand Finance
Slide 3: 17th Consecutive Best Ever Quarter: Consistent Growth in Revenues
17th CONSECUTIVE BEST EVER QUARTER CONSISTENT GROWTH IN REVENUES ENTERPRISE REVENUE (₹ Cr) CONSOL REVENUE (₹ Cr) CAGR CAGR 16% 17% Growth Growth 14% 15% 2,419 4,100 Strong Momentum 3,590 2,102 Across Enterprise & Consolidated Business 2,920 2,770 1,596 1,516 backed by Balanced 2,260 1,293 Business M
Slide 4: Converting Revenue to EBITDA & PAT
CONVERTING REVENUE TO EBITDA & PAT CONSOL EBITDA (₹ Cr) CONSOL PAT (₹ Cr) CAGR CAGR 17% 20% Growth Growth 18% 21% 753 358 296 Strong Revenue 637 248 Growth Converting 222 496 into Superior 459 170 Earnings backed by 405 Execution Excellence Q1FY23 Q1FY24 Q1FY25 Q1FY26 Q1FY27 Q1FY23 Q1FY24 Q1FY25 Q1F
Slide 5: Growing Across All Hotel Segment Metrics
GROWING ACROSS ALL HOTEL SEGMENT METRICES CONSOL HOTEL REVENUE (₹ Cr) CONSOL TREVPAR (₹ / Night) CONSOL REVPAR (₹ / Night) CAGR CAGR 13% 9% CAGR 10% Growth Growth 17% 12% Growth 14% 15,800 13,800 8,400 2,119 12,600 12,600 7,300 1,812 6,600 6,700 10,900 1,596 5,700 1,516 1,293 Q1FY23 Q1FY24 Q1FY25 Q1
Slide 6: Financials for the Quarter with Segment Performance
FINANCIALS FOR THE QUARTER WITH SEGMENT PERFORMANCE Q1 IHCL Consol. EBITDA & OP. EBITDA & PAT & Financials REVENUE OP. REVENUE & Growth YoY MARGIN% MARGIN% MARGIN% ₹ 2,419 Cr ₹ 753 Cr ₹ 2,339 Cr ₹ 673 Cr ₹ 358 Cr CONSOLIDATED ↑ 15% ↑ 18% ↑ 15% ↑ 17% ↑ 21% 31.1% 28.8% 14.8% ₹ 1,298 Cr ₹ 542 Cr ₹ 1,23
Slide 7: FY27 Confident on Delivering Double Digit Growth
FY27 CONFIDENT ON DELIVERING DOUBLE DIGIT GROWTH Resilient Renovated 60+ Hotels to ~ ₹ 250 Cr Domestic Demand Inventory open in FY27 Revenue Limited Supply in to create Upside ( ~800 Leased Keys & from new Acquisitions Key Cities ~4,200 Managed Keys) MULTIPLE MICE EVENTS BRICS INDIA 2026 VIBRANT GUJ
Slide 8: Quarter in Summary
QUARTER IN SUMMARY KEY HIGHLIGHTS TEMPORARY HEADWINDS 1 2 3 4 West Asia Conflict STRONG RENOVATED NOT LIKE FOR RECENT Airline Higher DOMESTIC Capacity Fuel cost ASSETS LIKE GROWTH ACQUISITIONS Reduction DEMAND PRICING POWER MOMENTUM PERFORMING DRIVING REVPAR WELL GROWTH Diversified Earning Engines o
Slide 9: RevPAR Growth Across All Brands, Strong Domestic Demand
Demand REVPAR GROWTH ACROSS ALL BRANDS STRONG DOMESTIC DEMAND STANDALONE DOMESTIC BY BRAND RevPAR (₹/Night) RevPAR (₹/Night) ↑14% Growth YoY ↑14% Growth YoY ↑14% 12,900 ↑16% Growth YoY Growth YoY 11,800 ↑12% 7,250 7,500 Growth YoY 10,350 2,900 Q1FY26 Q1FY27 Domestic 76% 82% Hotels Occupancy Occupanc
Slide 10: Asset Management Driving Growth: 300+ Renovated Keys
Key Renovations ASSET MANAGEMENT DRIVING GROWTH 300+ RENOVATED KEYS ROOM REVENUE ROOM REVENUE ROOM REVENUE +32% Growth YoY +45% Growth YoY +24% Growth YoY TOTAL REVENUE TOTAL REVENUE TOTAL REVENUE +24% Growth YoY +42% Growth YoY +9% Growth YoY 15 KEYS Completed Oct-25 ROOM REVENUE ROOM REVENUE +24%
Slide 11: 100 New Keys at Taj Ganges Varanasi
Opened in Mar-26 100 NEW KEYS AT Not Like for Like Growth TAJ GANGES VARANASI Q1 Turnover ₹ 30 Cr 44% Growth YoY EBITDA MARGIN 40% New Tower PBT Positive from 1st Quarter Above data is for Taj Ganges, Varanasi (230 keys post Expansion) 11
Slide 12: Taj Hessischer Hof, Frankfurt (126 Keys)
Opened in Jun-26 New Openings (Leased Property on Balance Sheet) TAJ HESSISCHER HOF, FRANKFURT (126 KEYS) 12 Leased
Slide 13: Industry Leading Portfolio, Continued Momentum of Signings & Openings
Portfolio INDUSTRY LEADING PORTFOLIO CONTINUED MOMENTUM OF SIGNINGS & OPENINGS 20 11 382 263+ Signings Openings Operational Hotels Pipeline Hotels Indias Largest Hospitality Network with a portfolio of 645+ Hotels & 382 ama Bungalows 150 4 2 22 56 55 54 262 41 382 FULL SERVICE BUSINESS SELECT SERVIC
Slide 14: Long-Term Growth Underpinned by Strong Development Pipeline
Pipeline LONG-TERM GROWTH UNDERPINNED BY STRONG DEVELOPMENT PIPELINE 263 HOTELS ~32,500 KEYS PIPELINE BY BRAND PIPELINE BY CONTRACT TYPE Managed 26,000 Keys 33% 81% 30% share of PIPELINE PIPELINE Growth Brands 28% 32,500+ Capital Light Lease* 32,500+ 1% 4,300 keys 13% KEYS KEYS 5% 7% 2% 10% 21% Owne
Slide 15: Management Fee Growth Backed by New Openings Momentum
Not Like for Like Fee Growth MANAGEMENT FEE GROWTH BACKED BY NEW OPENINGS MOMENTUM MANAGEMENT FEE NET UNIT GROWTH (IHCL Consol) No. of Managed Hotel Rooms ₹/ Crs 168 133 15,500 Full Service 13,400 Select Service 4,700 1,500 Q1FY26 Q1FY27 Jun'25 Jun'26 Management fee growth expected to continue at hi
Slide 16: Growth Brands Accelerated Expansion, High Growth
Strong Not Like for Like Growth GROWTH BRANDS ACCELERATED EXPANSION, HIGH GROWTH 260+ Operating ₹ 183 Cr Operating 23 Hotels 165+ Hotels Consol Hotel Revenue 20% Growth YoY Hotels Midscale Segment Pipeline Pipeline Leadership 39% 18 95+ Hotels EBITDAR Hotels 6 Hotels Opened (Q1) Operating 196 Ginger
Slide 17: New Acquisitions Set for Meaningful Contribution
Not Like for Like Acquisitions NEW ACQUISITIONS SET FOR MEANINGFUL CONTRIBUTION 11 Operational Hotels 11 in Pipeline Portfolio of 2 Properties Brij Sindhudurg (Opening this year) Proforma Revenue Enterprise RevenueQ1 Q1 Consol Revenue Enterprise Q1Q1 Revenue 11 Cr 42% Growth YoY 19 Cr 19% Growth YoY
Slide 18: Well Positioned to Invest for Growth with ₹4,400 Cr+ Cash
WELL POSITIONED TO INVEST FOR GROWTH WITH ₹ 4,400 CR+ CASH ₹ /crores 51 267 (1) 3 4,439 4,345 (226) Free Cash Flow : ₹ 91 crores Gross Cash Cash from Ops. Other Income Finance Cost Capex Net Investment Gross Cash March 2026 & Others June 2026 18
Slide 19: Investing in Our Assets: Key Ongoing Brownfield Projects
INVESTING IN OUR ASSETS KEY ONGOING BROWNFIELD PROJECTS Taj Lucknow Gateway, Calicut Blue Diamond, Pune (Full Upgrade) (Full Upgrade & Brand Migration) (Expansion) 96 Keys addition 75 Keys under renovation 110 keys renovation in Phases (2028) (2028) (2028) Estimated Capex spend of ₹ 300+ Cr for abov
Slide 20: Investing in Our Assets Across Key Gateway Locations
INVESTING IN OUR ASSET ACROSS KEY GATEWAY LOCATIONS London Frankfurt San FranciscoNew York Indian Sub-Continent Dubai (Sri Lanka/Nepal/Bhutan) Maldives St. James Court, London South Africa The Pierre, Upgradation of Facilities New York International Portfolio Performance improved substantially (Full
Slide 21: Asset Management Strengthening F&B Concepts
ASSET MANAGEMENT STRENGHTHENING F&B CONCEPTS Under Full Renovation at Coming soon at Coming soon at Taj Lands End Taj Mahal Palace & Towers Taj Mahal Palace & Towers Mumbai Mumbai Mumbai 21
Slide 22: Robust Pipeline of 2,000+ Keys on Balance Sheet
ROBUST PIPELINE OF 2,000+ KEYS ON BALANCE SHEET Taj Suheli & Taj Kadmat Taj Pushpabanta Taj Bandstand Taj at Shiroda Gateway Bengaluru (95% Excavation completed) at Lakshadweep (Approvals at Final Stages) (2028) Palace, Agartala (Approvals received) (2029) ~450 Keys 183 Keys ~300 Keys 286 Keys ~100
Slide 23: Key Enabler: Tata Neu Strengthening Engagement & Loyalty
KEY ENABLER : TATA NEU STRENGTHENING ENGAGEMENT & LOYALTY STRATEGIC ALLIANCE WITH ONEWORLD Points Earning Revenue Tata Neu App Revenue ₹ 875 Crore ₹ 99 Crore 61% Growth YoY +32% Growth YoY 01 15 240 Mn Group Airline Partner Airlines Reach Alliance Loyalty Points earning Revenue contribution to Enter
Slide 24: Paathya: Doing Business the Responsible Way
PAATHYA DOING BUSINESS THE RESPONSIBLE WAY Q1 FY27 UPDATE Waste 100% operating hotels will have an 115 hotels have Organic Waste Composter, 88 organic waste management system hotels have bottling plants to eliminate use of single-use plastic bottles Water 54% 100% water recycling water recycled Ener
Slide 25: Hotel Segment
9 eee = ° ml 25 TAJ GarwcsS G BRI SELEQTIONS CLARKS GATEWAY VIVANTA GINGER TREEOFLIFE ama Qmin § AIRE Wwe INCL
Slide 26: Diversified Revenue Streams: Hotel Segment
Revenue ₹ Cr & Growth YoY DIVERSIFIED REVENUE STREAMS HOTEL SEGMENT IHCL CONSOL Q1 FY27 STANDALONE Q1 FY27 Room Room Revenue 994 +13% Revenue 513 +16% F&B F&B +9% Revenue 642 +6% Revenue 392 Other Other Operating +49% Operating 240 +71% Operating Income* 177 Operating Income* Revenue Revenue 2,045 M
Slide 27: LFL Revenue Growth Across Key Domestic Markets Q1FY27
LFL REVENUE GROWTH ACROSS KEY DOMESTIC MARKETS Q1FY27 29% 27% IHCL Consol. (Domestic) 12% 13% 12% 7% 6% Hotel Revenue & Fee Income Growth YoY Mumbai Delhi Bengaluru Chennai Kolkata, Hyderabad, Rajasthan Goa Guwahati, Lucknow (Other Capital Cities) 23% IHCL Enterprise 19% 17% (Domestic) 11% 10% Hotel
Slide 28: Operational Efficiencies Sustained Margin for Consol Hotel Segment
OPERATIONAL EFFICIENCIES SUSTAINED MARGIN FOR CONSOL HOTEL SEGMENT Expense ₹ Cr Raw Material Costs Payroll Costs Fuel & Power Costs as % of F & B Revenue as % of Operating Revenue as % of Operating Revenue 22% 30% 29% 21% 5% 5% 125 142 531 592 84 93 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Q1 FY26 Q1 FY27 Li
Slide 29: Room Revenue Customer Segments & Channel Mix Q1FY27
ROOM REVENUE CUSTOMER SEGMENTS & CHANNEL MIX Q1FY27 340 bps increase from PY Crew Website Long Stay 1% 3% 21% MICE Hotel Reservation 18% (HRO) 40% Transient & Alternate Leisure Distribution System Corporate 69% (Online Travel Agents/ADS) 9% 23% Global Distribution System Central Reservation (Call Ce
Slide 30: Annexure
30 TAY Gariwces, aoe ~ ° 7 BRI] SELEQTIONS CLARKS GATEWAY VIVANTA GINGER TREEOFLIFE ama = Gmin AIRE Wwe INCL
Slide 31: Consolidated P&L Q1 FY27
CONSOLIDATED P&L Q1 FY27 PARTICULARS (₹ CR) Q1 FY26 Q1 FY27 Var. vs FY26 Revenue from Operations 2,041 2,339 15% Non Operating Revenue 61 80 31% Total Revenue 2,102 2,419 15% Total Expenditure 1,465 1,666 14% Operating EBITDA 576 673 17% Operating EBITDA Margin % 28.2% 28.8% +0.5 pp EBITDA 637 753 1
Slide 32: Standalone Reported P&L Q1 FY27
STANDALONE REPORTED P&L Q1 FY27 Particulars (₹ Cr) Q1 FY26 Q1 FY27 Var. vs FY26 Revenue from Operations 1,045 1,232 18% Non- Operating Revenue 55 66 20% Total Revenue 1,099 1,298 18% Total Expenditure 682 755 11% Operating EBITDA 363 477 31% Operating EBITDA Margin% 34.7% 38.7% +4.0 pp EBITDA 417 54
Slide 33: Key Legal Entities
₹ /crores KEY LEGAL ENTITIES ₹ /crores REVENUE EBITDA EBITDA MARGIN Legal Entities Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 UOH Inc. - USA 236 246 19 19 7.8% 7.7% St James Court, London 163 165 48 36 29.2% 22.0% PIEM Hotels Ltd. 140 151 34 38 24.7% 24.9% Benares Hotels Ltd. 27 35 12 14 44.1% 39.3%
Slide 34: Operational Inventory
OPERATIONAL INVENTORY Owned Managed Contracts & OPERATIONAL JV / Associates Total Operational (Standalone & Subsidiary) Distribution Arrangements By Brand Hotels Keys Hotels Keys Hotels Keys Hotels Keys Taj 30 5,124 13 1,185 50 7324 93 13,633 Claridges Collection 2 257 1 122 3 379 Gateway 3 211 4 15
Slide 35: Signed Inventory
SIGNED INVENTORY Owned PIPELINE Managed Total Pipeline (Standalone & Subsidiary) Hotels Keys Hotels Keys Hotels Keys Taj 6 1,200 51 9,500 57 10,700 Claridges Collection 1 100 1 100 Atmantan 1 100 1 100 Gateway 1 400 40 6,500 41 6,900 SeleQtions 1 50 16 1,500 17 1,550 Vivanta 22 3,400 22 3,400 Ginger
Slide 36: Hotels Opened in Q1
HOTELS OPENED IN Q1 Sl No Name Brand Ownership Keys 1 Taj Bush Lodge, Greater Kruger, South Africa Taj Management Contracts 6 2 Taj Hessischer Hof Frankfurt Taj Subsidiary 126 3 Ayodhyam - IHCL SeleQtions SeleQtions Management Contracts 162 4 Bandra House, Mumbai - IHCL SeleQtions SeleQtions Managem
Slide 37: Openings Expected in Q2
OPENINGS EXPECTED IN Q2 Sl No Name Brand Ownership Keys 1 Taj Palace, Lucknow Taj Management Contracts 181 2 Taj Tadoba Resort & Spa, Nagpur Taj Management Contracts 35 3 Taj Resort, Pushkar Taj Management Contracts 110 4 Himalayan Hillcroft Sirmaur - IHCL SeleQtions SeleQtions Management Contracts
Slide 38: Disclaimer
DISCLAIMER These presentations may contain forward-looking statements within the meaning of applicable securities laws. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Forward-looking statements are not g
Slide 39: Diversified by Design, Built to Compound
DIVERSIFIED BY DESIGN, BUILT TO COMPOUND GLOBAL CONFERENCE CALL Q1FY27 21st July 2026 39
The Indian Hotels Company — Q1 FY27 Earnings Presentation on 6ix