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IHCL to Reach 700 Hotels by FY27, Says MD & CEO Puneet Chhatwal
Sentiment: NeutralHigh Priority
What Happened?
Indian Hotels Company Ltd (IHCL) plans to have 700 hotels by FY27, ahead of its 2030 target. MD Puneet Chhatwal announced this after reporting a 23% rise in net profit for Q2FY27.
Key points
- IHCL's net profit rose 23% to ₹349 crore in Q2FY27.
- The company signed 47 hotels in FY27 until September, totaling 670.
- Revenue increased by 21% to ₹2,566 crore compared to the previous year.
- IHCL upgraded its revenue growth guidance for FY27 from 12-14% to 15-17%.
- The company aims to open 30 hotels in the second half of FY27.
Key insights
- The merger with Oriental Hotels Ltd is expected to streamline operations and boost revenue growth.
- IHCL's focus on mid-segment hotels like Ginger may cater to growing domestic travel demand.
- The company's strong cash flow allows for further investments in hotel upgrades and new developments.
Why it matters
IHCL's expansion could enhance its market presence and profitability in the hospitality sector.
Tags
Entities
Indian Hotels Company Ltd· CompanyTata Group· OrganizationPuneet Chhatwal· PersonOriental Hotels Ltd· Company
Source
Business Standard
