Indian Hotels Co. Ltd. · NSE:INDHOTEL
Indian Hotels — The Indian Hotels Company — Q4 FY25 Earnings Presentation
41 slides from Indian Hotels's earnings presentation, May 5, 2025
Slide 1: Executing Strategy: A Year of Momentum & Milestones
“Executing Strategy : A Year of Momentum & Milestones” GLOBAL CONFERENCE CALL Q4 & FY25 5th May, 2025 1
Slide 2: Story of IHCL – A Year of Strategic Progress & Value Creation
STORY OF IHCL – A YEAR OF STRATEGIC PROGRESS & VALUE CREATION STRONG INDUSTRY EFFECTIVE STRATEGY ONE GROWTH STORY FUELING RECORD FUNDAMENTALS EXECUTION LUXURY | UPSCALE | LEAN FINANCIAL PERFORMANCE Record signings & openings Accelerated growth of New & Best ever Q4 and full year Demand continues to
Slide 3: Story of IHCL: Aspiration to Acceleration
STORY OF IHCL ASPIRATION TO ACCELERATION ₹/ Crores Revenue EBITDA PAT 2x 4.5x +ve From Loss to ₹ 4,076 ₹ 8,565 ₹ 665 ₹ 3,000 ₹ (52) Record Profit ₹ 1,603 crore Crore Crore Crore Crore Crore FY17 FY17 FY17 FY25 FY25 FY25 EBITDA Margin Free Cash flow Net Cash 19PP 58x +veSwing of 16% 35% ₹ 19 ₹ 1,099
Slide 4: Growing Legacy Room by Room, Hotel by Hotel
STORY OF IHCL GROWING LEGACY ROOM BY ROOM, HOTEL BY HOTEL Portfolio Hotels Portfolio Rooms Portfolio Footprint 2.5x 2.5x 2x 155 381 18.4k 46.5k 85 170+ Hotels Hotels Rooms Rooms Locations Locations FY17 FY17 FY17 Apr-25 Apr-25 Apr-25 New Openings New Signings Operational Rooms 5x 5x 1.6x 5 26 15 74
Slide 5: Strong Industry Fundamentals: Demand Continues Outpacing Supply
STRONG INDUSTRY FUNDAMENTALS DEMAND CONTINUES OUTPACING SUPPLY, KEY CITIES PRIMARY BENEFICIARIES Supply Demand ARR RevPAR Room Revenue (Room Nights available (Room Nights sold per day) Per day) FY25 Industry Data growth YoY 2.2% 5.7% 8.1% 11.8% 14.3% Data as per CoSTAR for branded and other chain af
Slide 6: IHCL Records Double Digit RevPAR Growth
IHCL RECORDS DOUBLE DIGIT REVPAR GROWTH 73% RGI PREMIUM TO INDUSTRY Room Nights ARR RevPAR 16% Q4FY25 12% 13% With Consistent Election 12% RevPAR growth Impact RevPAR 16% across Quarters growth over PY 9% 15% & full year 4% 11% 10% Data for Consolidated 2% Occupancy 80% domestic hotels on Like for 2
Slide 7: Foreign Tourist Arrivals Significant Upside Potential
FOREIGN TOURIST ARRIVALS SIGNIFICANT UPSIDE POTENTIAL Growth CAGR Expected to double by 2030 even with 10% CAGR Foreign Tourist Arrivals in key destinations are much higher FTA’s in Million 28 Mn as per Industry Reports Region / Country No. in Mn 22 Mn with 15% CAGR Singapore 17 Korea 16 17 Mn with
Slide 8: Effective Strategy Execution: Record Signing & Opening
EFFECTIVE STRATEGY EXECUTION RECORD SIGNING & OPENING 74 signings and 26 openings in the year 100 hotel portfolio 300+ bungalows Portfolio Portfolio with Marquee properties growth 100+ signings for 19 signings and 2nd consecutive year 6 openings in Q4 50 hotel mark Well poised to achieve its goal of
Slide 9: Expanding Our Brandscape Strengthening Our Legacy
EXPANDING OUR BRANDSCAPE STRENGTHENING OUR LEGACY Taj Palaces Taj 3 High 2 SeleQtions Product/ Service Offering 1 Vivanta Medium Ginger 1 Tree of Life 2 Gateway Low 3 Claridges Collection Low Medium High Price Positioning 9
Slide 10: Putting Money Back Into Assets and Investing for Future
PUTTING MONEY BACK INTO ASSETS AND INVESTING FOR FUTURE CAPEX SPENDS Key Renovations 1,074 548 526 • Taj Mahal Palace & Tower, Mumbai (Loya, Chambers, ₹ /Crores Club Lounge) 637 • Taj Bengal Kolkata (Chambers, Club Lounge) 471 • Room renovation at Goa hotels, President Mumbai, Vivanta Whitefield, St
Slide 11: New Business Growth Potential Delivering on Our Commitments
NEW BUSINESS GROWTH POTENTIAL DELIVERING ON OUR COMMITMENTS New Business Revenue at IHCL Consol. level Ginger Consol. ₹ /Crores Revenue EBITDAR Margin 800 50% 602 44% 40% 600 429 577 30% 360 400 26% 20% 200 213 213 10% 0 0% FY20 FY25 Ginger EBITDAR margin potential of 50% FY20 FY23 FY24 FY25 Ginger
Slide 12: Re-imagined Business Growth Trajectory Continues
RE-IMAGINED BUSINESS GROWTH TRAJECTORY CONTINUES ₹ 1,051 Cr Growth of Revenues 17% YoY ₹ 148 Cr (↑ 25%) Membership Revenue ₹ 265 Cr 25% EBITDA (FY25 IHCL Consol) EBITDA Margin Revenue Presence across ₹ 281 Cr 55% Market Share In Q4FY25 by Meals 9 Landmark Taj Hotels 3,100+ Members 100+ Members added
Slide 13: Management Fee Growth Validating Scalable, Contract-Led Expansion
MANAGEMENT FEE GROWTH VALIDATING OUR SCALABLE, CONTRACT-LED EXPANSION MANAGEMENT FEE NET UNIT GROWTH RevPAR Growth Managed Hotel Rooms IHCL Enterprise (₹ / Night) Growth YoY ₹/ Crores 14,433 562 10,000 13,009 9,200 470 FY24 FY25 Mar-24 Mar-25 FY24 FY25 Building on new avenues of fees with Diversifie
Slide 14: Traditional Business Growth Led by the Legacy of Taj
TRADITIONAL BUSINESS GROWTH LED BY THE LEGACY OF TAJ RevPAR by Brand BRAND REVENUE IHCL ENTERPRISE FY25 RevPAR (Q4) RevPAR (FY25) ₹/Room Night 16,100 12% Taj 12,900 9% ₹ 10,500 Cr | ↑11% ₹ 1,240 Cr | ↑9% ₹ 700 Cr | ↑28% 9,700 11% SeleQtions 7,700 8% 6,600 14% Vivanta 5,700 9% ₹ 110 Cr | ↑20% ₹ 30 Cr
Slide 15: Year of Historic Highs: Best Ever Financials, Strongest Margins
YEAR OF HISTORIC HIGHS BEST EVER FINANCIALS, STRONGEST MARGINS Revenue EBITDA PAT PAT Margin EBITDA Margin ₹ Crore (IHCL Consol.) 34% 35% 20% 24% 33% 16% 18% 25% 18% 19% 9,937 17% 20% 15% 7,937 8% 8,565 6% 10% 2% 6,952 5,937 5% 3,000 5,949 0% 2,340 1,943 1,603 3,937 4,595 4,596 -5% 1,259 4,165 1,100
Slide 16: Best Ever Q4 Strongest Margins Achieved Over High Base
BEST EVER Q4 STRONGEST MARGINS ACHIEVED OVER HIGH BASE Revenue EBITDA PAT PAT Margin EBITDA Margin ₹ Crore (IHCL Consol.) 36% 37% 25% 22% 34% 18% 23% 3,000 20% 21% 21% 25% 20% 2,500 15% 2,487 9% 2,000 7% 7% 10% 4% 1,951 5% 1,500 1,655 918 0% 706 1,282 565 1,000 -5% 525 1,164 1,101 1,069 418 328 322
Slide 17: Differentiated Strategy Enabling Diversification of Revenue
DIFFERENTIATED STRATEGY ENABLING DIVERSIFICATION OF REVENUE OPERATING REVENUE BY SEGMENTS OPERATING REVENUE BY GEOGRAPHY FOR HOTEL SEGMENT (90% OF CONSOL. REVENUES) 7% New Business 10% 80% 65% Key Business Cities (1) Reimagined Domestic Business Portfolio Revenue 17% Others 6% Management Fee 20% 18%
Slide 18: Strong Balance Sheet with Healthy Cash Reserves
STRONG BALANCE SHEET WITH HEALTHY CASH RESERVES ₹ /crores Taj SATS Cash as on Aug 1 116 Free Cash Flow 2206 CY : ₹ 1,099 crores; PY : ₹ 1,162 crores(1) Board has recommended dividend of 20% of Consol PAT (excluding exceptional items) which is ₹ 2.25/share, subject to shareholders approval (1)Free ca
Slide 19: Return Ratios Continue to Grow Creating Intrinsic Value
RETURN RATIOS CONTINUE TO GROW CREATING INTRINSIC VALUE Return on Capital Employed%(1) Return on Equity %(2) 17.3 15.5 15.1 14.4 Mar-24 Mar-25 Mar-24 Mar-25 Expansion in Return ratios despite 20% increase in capital employed (1) RoCE is pre-tax EBIT divided by average Capital employed (2) PAT consid
Slide 20: Accelerate 2030: Bold Vision Clear Roadmap
ACCELERATE 2030 BOLD VISION CLEAR ROADMAP % of Target ACCELERATE 2030 FY25 achieved TARGETS IHCL Consol. Revenue ₹ 8,565 Cr 57% ₹ 15,000 Cr Portfolio 380 Hotels 54% 700 Hotels Return on Capital Employed 17.3% 86% 20% (*) Sustain +ve Net Cash Positive ~ ₹ 2,850 Cr Sustain Net Cash Position NPS 70+ Su
Slide 21: IHCL Well-Placed to Shape the Future
IHCL WELL-PLACED TO SHAPE THE FUTURE Strong Demand, Immense The India Growth Story Growth Potential › India relatively Resilient to › Upcycle continues with Trade/Tariff wars Demand outpacing Supply MACRO- HOSPITALITY ECONOMIC INDUSTRY › Strong Focus on Infrastructure › Foreign Tourist arrivals Futu
Slide 22: Hotel Segment
HOTEL SEGMENT ? = ° a 22 TAJ — GArIDGES SELEQTIONS GATEWAY VIVANIA GINGER TREEOFLIFE ama min me INCL
Slide 23: Steady Performance Hotel Segment
STEADY PERFORMANCE HOTEL SEGMENT HOTEL SEGMENT Q4 FY25 YoY CHG HOTEL SEGMENT FY25 YoY CHG Revenue ₹ 2,206 Cr ↑ 13% Revenue ₹ 7,841 Cr ↑ 13% ↑ 13% Op. Revenue ₹ 2,147 Cr ↑ 13% Op. Revenue ₹ 7,618 Cr EBITDA ₹ 848 Cr ↑ 20% EBITDA ₹ 2,815 Cr ↑ 20% Op. EBITDA ₹ 789 Cr ↑ 20% Op. EBITDA ₹ 2,592 Cr ↑ 20% EB
Slide 24: Hotel Segment: Well Balanced Growth Across Revenue Streams
HOTEL SEGMENT WELL BALANCED GROWTH ACROSS REVENUE STREAMS IHCL CONSOL. 12M FY25 IHCL STANDALONE 12M FY25 HOTEL SEGMENT YoY CHG YoY CHG Room Revenue ₹ 3,872 Cr ↑ 14% Room Revenue ₹ 2,238 Cr ↑ 15% Food & Beverage Food & Beverage ₹ 2,602 Cr ↑ 9% ₹ 1,650 Cr ↑ 6% Revenue Revenue Other operating Other ope
Slide 25: Operational Efficiencies Margin Expansion for Hotel Segment
OPERATIONAL EFFICIENCIES MARGIN EXPANSION FOR HOTEL SEGMENT Raw Material Costs Payroll Costs Power Costs as % of F & B Revenue as % of Operating Revenue as % of Operating Revenue 21.8% 21.6% 26.7% 26.0% 4.6% 4.4% 7% 521 561 8% 1,805 1,979 10% 309 331 FY24 FY25 FY24 FY25 FY24 FY25 License Fees Other
Slide 26: Room Revenue Customer Segments & Channel Mix
ROOM REVENUE CUSTOMER SEGMENTS & CHANNEL MIX Groups Crew Website Leisure 3% 2% 9% 15% Long Stay 2% Hotel Reservation Alternate (HRO) MICE Distribution System 18% (Online Travel 47% Agents/ADS) Transient 24% 55% Corporate Global Distribution System 11% Central Reservation 6% (Call Centre) 8% Digital
Slide 27: Key Enablers
| | , . a ii ? = 9, 1 27 TAJ GARIDGES SELEQQTIONS GATEWAY VIVANIA GINGER TREEOFLIFE ama min me INCL
Slide 28: Tata Neu Accelerated Member Base Driving Higher Loyalty
TATA NEU ACCELERATED MEMBER BASE DRIVING HIGHER LOYALTY Total Members Growing share of Loyalty Revenue 5X 10 MN Grown by 8 MN ₹ 2,200+ Cr 8 Mn 2 MN Loyalty Points earning Revenue (1) Pre-launch Apr ‘22 Mar-24 Mar-25 ↑ 43% Vs FY 24 Loyalty Revenue (Points Earning revenue) ₹ Crore ₹ 200+ Cr 2X Tata Ne
Slide 29: Paathya: Doing Business the Responsible Way
PAATHYA DOING BUSINESS THE RESPONSIBLE WAY Waste FY 24/25 UPDATE 100% elimination of single-use plastic 623 Tons of Plastic Saved through Glass Bottles, Bio-degradable Bathroom Amenities, Paper Straws Waste 100% operating hotels will have an organic waste management system 64 hotels have bottling pl
Slide 30: Customer Centricity Consistently Improving NPS Scores
CUSTOMER CENTRICITY CONSISTENTLY IMPROVING NPS SCORES 74.8 74.0 73.9 73.1 69.3 68.7 67.5 66.6 66.5 66.3 66.6 66.6 65.1 64.0 FY 2018/19 FY 2019/20 FY 2020/21 FY 2021/22 FY 2022/23 FY 2023/24 FY 2024/25 30
Slide 31: Annexures
ANNEXURES & r ? = ° a 31 TAJ — GArIDGES SELEQTIONS GATEWAY VIVANIA GINGER TREEOFLIFE ama min me INCL
Slide 32: Consolidated P&L Q4 & 12M FY25
CONSOLIDATED P&L Q4 & 12MFY25 ₹ /crores Particulars Q4 FY24 Q4 FY25 Var. vs FY24 12M FY24 12M FY25 Var. vs FY24 Revenue from Operations 1,905 2,425 27% 6,769 8,335 23% Non-Operating Revenue 46 62 34% 183 230 26% Total Revenue 1,951 2,487 27% 6,952 8,565 23% Total Expenditure 1,246 1,568 26% 4,612 5,
Slide 33: FY25 Segment Results
FY25 SEGMENT RESULTS 12M FY25 Q4 FY25 REVENUE EBITDA EBITDA REVENUE EBITDA EBITDA MARGIN MARGIN HOTEL SEGMENT ₹ 2,206 Cr ₹ 848 Cr 38.5 % ₹ 7,841 Cr ₹ 2,815 Cr 35.9 % ↑ 13 % ↑ 20 % ↑ 2.3 pp ↑ 13 % ↑ 20 % ↑ 2.2 pp REVENUE EBITDA EBITDA REVENUE (1) EBITDA (1) EBITDA MARGIN MARGIN (1) AIR CATERING ₹ 281
Slide 34: Standalone P&L Q4 & Full Year FY25
STANDALONE P&L Q4 & FULL YEAR FY25 ₹ /crores Particulars Q4 FY24 Q4 FY25 Var. vs FY24 12M FY24 12M FY25 Var. vs FY24 Revenue from Operations 1,342 1,476 10% 4,406 4,917 12% Non-Operating Revenue 42 55 32% 185 229 24% Total Revenue 1,383 1,531 11% 4,590 5,145 12% Total Expenditure 756 798 6% 2,693 2,
Slide 35: Performance Across Key International Subsidiaries
PERFORMANCE ACROSS KEY INTERNATIONAL SUBSIDIARIES UNITED OVERSEAS HOLDINGS, INC. (USA) $ MN ST. JAMES COURT HOTEL LTD. £ GBP MN FY24 FY25 FY24 FY25 96.5 81.1 47.5 46.0 13.2 11.6 -7.0 0.5 Revenue EBITDA Revenue EBITDA EBITDA Break 19% -3% -13% even for the year FY25 has been impacted by renovation at
Slide 36: IHCL Consolidated Balance Sheet as on 31st March 2025
IHCL CONSOLIDATED BALANCE SHEET AS ON 31st MARCH, 2025 ₹ /crores Particulars March 2024 March 2025 Non Current Assets Fixed Assets 6,934 8,293 Right to use Assets 1,970 2,547 Goodwill 662 711 Investments 1,537 1,380 Other Non Current Assets 684 603 Cash & Cash Equivalents (1) 2,206 3,073 Current Ass
Slide 37: Inventory Brandscape as on 31st March 2025
INVENTORY BRANDSCAPE AS ON 31st MARCH 2025 Operational Pipeline Total Portfolio By Brand Hotels Keys Hotels Keys Hotels Keys Taj 87 13,152 42 7,600 129 20,752 Ginger 73 6,485 30 3,900 103 10,385 Vivanta 28 3,681 24 3,350 52 7,031 Gateway 9 693 22 2,983 31 3,676 SeleQtions 26 1,975 16 1,500 42 3,475
Slide 38: Opening Schedule of Signed Pipeline
OPENING SCHEDULE OF SIGNED PIPELINE Pipeline – IHCL & Group FY26 FY27 Total Signed Taj 233 712 Vivanta 127 127 Ginger 223 373 2,736 Tree of Life 25 Grand Total 583 373 3,600 Pipeline – Managed Hotels FY26 FY27 Total Signed Taj 1,000 1,500 6,888 Vivanta 550 800 3,223 Gateway 440 800 2,983 SeleQtions
Slide 39: Hotels Opened in Q4FY25 & Planned for Q1FY26
HOTELS OPENED IN Q4FY25 & PLANNED FOR Q1FY26 Sl No Hotel Name (Opened in Q4FY25) Brand Ownership Inventory 1 Taj Mussoorie Foothills, Dehradun Taj Management Contracts 215 2 Naukuchia House, Naukuchiatal - IHCL SeleQtions SeleQtions Management Contracts 88 3 The Fort House, Diu - IHCL SeleQtions Sel
Slide 40: 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 41: Executing Strategy: A Year of Momentum & Milestones
“Executing Strategy : A Year of Momentum & Milestones” GLOBAL CONFERENCE CALL Q4 & YTD March FY 2024-25 5th May, 2025 41
The Indian Hotels Company — Q4 FY25 Earnings Presentation on 6ix