Itc Hotels Ltd · NSE:ITCHOTELS
Itc Hotels — Q2 FY26 Earnings Presentation
44 slides from Itc Hotels's earnings presentation, Oct 24, 2025
Slide 1: Cover letter to stock exchanges
24th October, 2025 The Manager The General Manager Listing Department Dept. of Corporate Services National Stock Exchange of India Ltd. BSE Ltd. Exchange Plaza P. J. Towers Plot No. C-1, G Block Dalal Street Bandra-Kurla Complex Mumbai 400 001 Bandra (East) Mumbai 400 051 Dear Sirs, Unaudited Financ
Slide 2: Media Statement: Growth Momentum Continues Through Unmatched Hospitality
Media Statement 24th October, 2025 ____________________________________________________________________________________________ ITC HOTELS: GROWTH MOMENTUM CONTINUES THROUGH UNMATCHED HOSPITALITY Highest ever Q2 revenue and profits, despite subdued travel / leisure activity and lesser number of au
Slide 3: Performance Highlights - Standalone
PERFORMANCE HIGHLIGHTS - STANDALONE The Company delivered a robust performance during the Second Quarter of FY25-26, powered by its the ‘Asset-Right’ strategy, commitment to operational excellence and world class service standards. Room Revenue growth was driven by robust performance in the Retail
Slide 4: ITC Ratnadipa and sustainability recognition
The Company launched its first international property ITC Ratnadipa2 in April 2024 at Colombo, Sri Lanka. During the Quarter, the hotel continued to demonstrate market leadership in terms of RevPAR and also turned EBITDA positive. Sri Lanka’s hospitality sector is experiencing strong resurgence an
Slide 5: Q2 FY26 Results
Our Legacy Inspires Our Future 24th October 2025 Q2 FY26 Results ITC Grand Bharat, Gurugram
Slide 6: Disclaimer
Disclaimer This presentation contains certain forward-looking statements including those describing the Company’s strategies, strategic direction, objectives, future prospects, estimates etc. Investors are cautioned that “forward looking statements” are based on certain assumptions of future events
Slide 7: Macro-Economic Environment
Macro-Economic Environment 3 ITC Maurya, 3 Delhi
Slide 8: Indian Economy Resilient amidst Headwinds
Indian Economy Resilient amidst Headwinds Real GDP Growth FY25 FY26 +130 bps +140 bps +30 bps • GST 2.0 ~ Rates rationalisation to boost 7.8% consumer spending 6.5% 7.0% 6.5% 6.8% 5.6% • Supportive monetary policy ~ Repo rates reduced by 75 bps since Feb’25 Q1 (A) Q2 (F) FY (F) Inflation levels at 8
Slide 9: Travel & Tourism Q2 Impacted by Seasonal Headwinds
Travel & Tourism Q2 Impacted by Seasonal Headwinds Monsoon affects demand in July & August Domestic travel affected in Q2 KEY MONITORABLES Goly % ARR Demand Domestic Air Passengers (YoY%) 2024 2025 8% 12% 11% 5% 5% 8% 7% 2% 2% 5% 2% 9% 6% 6% 2% 4% 7% -1% Sustenance of economic -3% growth amidst Geop
Slide 10: Key Performance Highlights
Key Performance Highlights 6 ITC Kohenur, Hyderabad 6
Slide 11: Key Performance Highlights
Key Performance Highlights Highest ever Revenue and Profits in Q2 & H1, despite seasonal headwinds Asia’s Best Workplaces; • Consolidated Total Income at ₹ 885 cr. up 13%, EBITDA at ₹ 246 cr. up 16% and Ranked #45 PAT at ₹ 133 cr. up 74% → EBITDA up 22% on a comparable basis • Robust growth across a
Slide 12: Highest Ever Revenue & Profits - Q2 & H1 Consolidated
Highest Ever Revenue & Profits - Q2 & H1 Consolidated Q2 FY26 Particulars H1 FY26 ₹ 885 Cr 13% Total Income ₹ 1745 Cr 17% ₹ 246 Cr 16% EBITDA ₹ 490 Cr 17% Up 22% on Comparable basis Up 24% on Comparable basis 29% 200 bps EBITDA Margin 30% 150 bps Up 340 bps on Comparable basis Up 300 bps on Comparab
Slide 13: Highest Ever Revenue & Profits - Q2 & H1 Standalone
Highest Ever Revenue & Profits - Q2 & H1 Standalone Q2 FY26 Particulars H1 FY26 ₹ 806 Cr 13% Total Income ₹ 1589 Cr 16% ₹ 234 Cr 10% EBITDA ₹ 472 Cr 11% Up 15% on Comparable basis Up 17% on Comparable basis 31% 60 bps EBITDA Margin 31% 15 bps Up 215 bps on Comparable basis Up 180 bps on Comparable b
Slide 14: Growth Momentum Continues
Growth Momentum Continues Performance Metrics – Q2 Performance Metrics – H1 RevPAR & Goly Occ% RevPAR & Goly Occ% 72% 72% 70% 70% 64% 63% +11% +9% 6900 7400 8100 6600 7200 8000 FY24 FY25 FY26 FY24 FY25 FY26 Domestic Owned Hotels 10 Rounded off values Q4FY25&FY25Results
Slide 15: RevPAR Outperformance across Cities
RevPAR Outperformance across Cities 40% RevPAR Premium over Industry* Industry* RevPAR ITC Hotels RevPAR +87% +56% +47% +20% +14% +40% +36% +54% +16% +45% India Hyderabad Goa Ahmedabad Chennai Agra Jaipur Bengaluru Kolkata New Delhi *Luxury, Upper Upscale & Upscale Data for Q2 FY26 (Owned Hotels) 11
Slide 16: Food & Beverage Excellence
Food & Beverage Excellence Restaurants Openings - Q2 EDO at ITC Gardenia Speciality H1 F&B Revenue growth Japanese restaurant Q1 Q2 gets a new look +13% and vibe +8% +9% 16% 13% 13% High base & lesser 9% auspicious dates K&K at Welcomhotel 4% 5% impacting Banquet Bhubaneshwar revenue 23-24 24-25 25-
Slide 17: ITC Ratnadipa: A Jewel in Colombo's Skyline
Mixed Use Development ITC Ratnadipa: A Jewel in Colombo’s Skyline 352 Keys + 132 Residences Recovery in Sri Lankan ITC Ratnadipa Scaling up Well Economy and Tourism Sector Hotel continues its strong RevPAR growth Q2 RevPAR (LKR) x 1.6x FY25 FY26 Foreign Tourist Arrivals back at 2018 levels Jan to Se
Slide 18: Launch of New Premium Brand
Launch of New Premium Brand Debut Destinations Tirupati, Andhra Pradesh Puri, Odisha 201 Keys 118 Keys • New addition to ITC Hotels brand portfolio • High-Quality conversions & New builds • Multi-brand growth strategy for expansion in key business & leisure markets • Add about 1,000 keys under the b
Slide 19: New Signings H1 FY26
New Signings H1 FY26 ~1500 Keys signed in H1 FY26 Accelerated Hotel Signings YoY Destinations Signed in H1 FY26 30+ 6 Business Destinations 4 Spiritual Destinations 30 (650+ Keys) (500 Keys) H2 (Patna, Hyderabad, Nellore, (Bodhgaya, Tirupati, 24 Gurugram, Lucknow, Rajkot) Signings Vrindavan, Mantral
Slide 20: New Openings H1 FY26
New Openings H1 FY26 Welcomhotel Prayagraj Storii Kufri Fortune Airport Road Kochi Mementos Jaipur 60 Keys 45 Keys 72 Keys ENRICHING EXPERIENCES AWAIT EVERY STAY IS A NEW STORY Storii Kufri Welcomhotel Delhi – Gurugram Highway 16 Welcomhotel Jabalpur Review : 2024-2025
Slide 21: 3.3 MW Wind Turbine Powers ITC Narmada
3.3 MW Wind Turbine Powers ITC Narmada Integrating World Class Luxury with Sustainability 3.3 MW Wind Turbine Carbon reduction commissioned at and Rajkot, Gujarat energy cost efficiency Strengthens More than 54% of the ITC Narmada’s position total Electricity of the as Gujarat’s most Company is thro
Slide 22: Global Exemplar in Sustainability
Global Exemplar in Sustainability ITC Grand Chola, ranked # 1 amongst Sustainable Hotels by Sustainability Magazine 18 18 Review : 2024-2025
Slide 23: Employer of Choice | Accolades at National and Asia level
Employer of Choice | Accolades at National and Asia level India Level Recognitions Continue in Q2 A m o n g To p 5 0 B e st Wo r k p l a c e s i n A s i a In Top 10 India’s Best In Top 50 India’s Best Workplaces for Millennials Workplaces for Women ✓ All recognitions based on employee survey and aud
Slide 24: Key Awards won in Q2 FY25-26
Key Awards won in Q2 FY25-26 2025 2025 2025 2025 2025 ITC Ranked #1 Avartana Dum Pukht Bukhara Hotels ITC Grand Chola ITC Grand Chola, ITC Maurya, ITC Maurya, Excellence in Chennai New Delhi New Delhi Top 10 Decarbonization Sustainable Hotels Decarbonization Awards, ISHRAE Condé Nast Traveller Top 5
Slide 25: Operational Excellence
Operational Excellence ITC Narmada, Ahmedabad 21
Slide 26: Guest Satisfaction Index
Guest Satisfaction Index Net Promoter Score Response Rate Online Rating One of the Best NPS scores Active feedback High Customer in the Industry monitoring Satisfaction Rating 84 99% 4.78 98.98% (Global Average 57) (Global Average 4.2) Data for YTD 30th Sept 2025; Global averages are for calendar ye
Slide 27: Operational Excellence
Operational Excellence Thrust on Improving Productivity | Efficiency Food & Bev. Cost (% of F&B Revenue) People Cost ^ (% of Revenue from Ops) 24.5% 24.4% 24.6% 24.0% Q2FY25 Q2FY26 Q2FY25 Q2FY26 Energy Cost (% of Revenue from Ops) Other Operating Cost^ (% of Revenue from Ops) 30.3% 29.4% 5.7% 4.8% Q
Slide 28: Key Growth Enablers
ITC Grand Goa Key Growth Enablers 24 Review : 2024-2025
Slide 29: Strategic Pillars
Strategic Pillars CONTINUED INVESTMENT TO ENHANCE BRAND ASSET RIGHT DIGITAL FIRST SUSTAINABILITY EMPLOYER OF CHOICE EQUITY • Brands & Marketing •Asset right approach to • Best in Class Guest • Enhance Supremacy • Robust Talent Pool o Rooms accelerate growth experience across all brands • Communicati
Slide 30: Growing Hotels Footprint
Growing Hotels Footprint Existing Hotels Current Operating Footprint 7 Hotels in pipeline 20 1 145+ Hotels 6 1 9 10 5 13,600+ Keys 15 6 5 1 1 1 (Owned / Managed Mix By % Keys : 41% / 59% ) 7 6 2 13 2 3 4 2 6 6 3 1 By 2030 6 1 2 2 7 3 220 Hotels 10 3 5 6 20,000+ Keys 1 1 (Owned / Managed Mix By % Key
Slide 31: Driving Capital Efficient Growth
Driving Capital Efficient Growth Owned Hotels ► Significant headroom to drive RevPar growth ► About 25% Inventory < 5 years old, operating at <70% Occupancy ► ITC Ratnadipa, Colombo → significant contributor to Revenue & EBITDA going forward Epiq Collection, Puri* Welcomhotel Bhubaneshwar Upcoming p
Slide 32: Significant Headroom for Growth
Significant Headroom for Growth ITC Royal Bengal (FY20) WH Bhubaneswar (FY22) ITC Narmada (FY23) ITC Ratnadipa (FY25) About 25% Inventory operating at <70% Occupancy levels 28 Q4FY25 & FY25 Results
Slide 33: Strong Growth Enablers in Place
Strong Growth Enablers in Place Healthy Cash Reserves & Cash Generation to accelerate growth Capital Investments → Renovations | on-going Projects | new Greenfields & others - Estimated at c.8-10% of Revenue cumulatively Well positioned to execute selective Inorganic Opportunities - Value accretive
Slide 34: Accelerating Growth through Managed Hotels
Accelerating Growth through Managed Hotels Expansion of Welcomhotel Bhubaneshwar 101 Keys 5 Decades of Bouquet of Brands Sustainability Hospitality Expertise across Segments Leadership Welcomhotel Bodh Gaya Hotel & Convention Centre Food & Beverage Smart Revenue Strong Loyalty Supremacy Management &
Slide 35: Robust Growth Pipeline: 61 Hotels with ~5900 Keys
Robust Growth Pipeline: 61 Hotels with ~5900 Keys 1 Hotel 2 Hotels 2 Hotels 17 Hotels 12 Hotels 24 Hotels 3 Hotels 140 Keys 420 Keys 319 Keys 2292 Keys 672 Keys 1916 Keys 130 Keys ► High Quality of signed pipeline; High salience of Brownfield Assets • > 1 Hotel opening per month for next 24 months •
Slide 36: Sustainability 2.0 Agenda
Sustainability 2.0 Agenda 2030 Sustainability Goals Net Zero Carbon Goal LEED® Zero Carbon status for all Owned Hotels To exceed 2050 GHG sectoral emissions targets set as per COP 21 Waste Reduction Solid waste reuse / recycling > 99% Water Efficiency LEED® Zero Water Status for > 50% of Owned Hotel
Slide 37: ITC Hotels Poised For Next Horizon Of Growth
ITC Hotels Poised For Next Horizon Of Growth Committed to Long-term Value Creation Future Ready Climate Positive Consumer Centric Inclusive Responsible Luxury Strengthen Brand Portfolio ► Bold Sustainability 2.0 agenda ► Signature Cuisine Brands ► Bespoke service offerings Drive Scale & Profitabilit
Slide 38: Annexures
Annexures 34 34
Slide 39: Standalone Financials
Standalone Financials ₹ In Cr. Statement of Profit & Loss Particulars Q2 FY26 Q2 FY25 YoY H1 FY26 H1 FY25 YoY Revenue From Operations 761 709 7% 1505 1359 11% Other Income 45 4 84 7 Total Revenue 806 713 13% 1589 1366 16% Total Operating Expenses 527 495 6% on a Comparable 1033 935 10% on a Comparab
Slide 40: Consolidated Financials
Consolidated Financials ₹ In Cr. Statement of Profit & Loss Particulars Q2 FY26 Q2 FY25 YoY H1 FY26 H1 FY25 YoY Revenue From Operations 839 778 8% 1655 1484 12% Other Income 45 3 90 13 Total Revenue 885 781 13% on a Comparable 1745 1496 17% on a Comparable basis basis Total Operating Expenses 594 56
Slide 41: Room Segment Snapshot
Room Segment Snapshot Q2 FY25 Q2 FY26 62% 64% 19% 19% 16% 14% 3% 3% Retail Contracted MICE + Weddings Crew Higher Retail driven by curated offerings Lower auspicious dates in Q2 Data for Q2 FY26 Domestic Owned Hotels 37 37
Slide 42: Strong Multi-channel Distribution Network
Strong Multi-channel Distribution Network Unit Reservations Website and App Guest Call Centre 24% 22% 16% Online Travel Agents GDS 18% 20% Data for Q2 FY26 Domestic Owned Hotels 38 Q4FY25&FY25Results Review:2024-2025
Slide 43: Brand landscape
Brand landscape Operational Pipeline Total Brands Hotels | Keys Hotels | Keys Hotels | Keys 16 | 4789 1 | 140 17 | 4929 2 | 181 2 | 420 4 | 601 - 2 | 319 2 | 319 28 | 3062 17 | 2292 45 | 5354 8 | 280 12 | 672 20 | 952 58 | 4335 24 | 1916 82 | 6251 34 | 999 3 | 130 37 | 1129 Total 146 | 13646 61 | 58
Slide 44: Thank You
Jk ITC HOTELS LIMITED THANK YOU