ITC Hotels Ltd on Wednesday reported a 53 per cent jump in consolidated net profit to Rs 133.71 crore in the June quarter, on the back of higher revenue.
Image: ITC Maratha, Mumbai. Photograph: Kind courtesy, ITC Hotels
The company, which had posted a consolidated net profit of Rs 87.16 crore in the first quarter last fiscal, said it is targeting to reach 220 operational hotels and more than 20,000 keys by 2030.
Consolidated revenue from operations in the April-June quarter stood at Rs 815.54 crore against Rs 705.84 crore in the corresponding period a year ago, ITC Hotels said in a regulatory filing.
Total expenses in the quarter under review were higher at Rs 674.97 crore compared to Rs 596.41 crore in the same period last fiscal.
In the first quarter, room revenues delivered strong growth driven by superior performance across retail, MICE and wedding segments, ITC Hotels said in a statement.
“The average daily rate (ADRs) for the quarter grew by 9 per cent and occupancy by 275 bps (basis points), resulting in overall RevPAR (revenue per available room) growth of 13 per cent,” it added.
Food & Beverages (F&B) revenue also grew by 13 per cent due to banqueting and outdoor catering, it noted.
The company said it achieved a key milestone of crossing the 200 hotels mark, with 143 operational and 58 hotels in the pipeline.
During the quarter, eight hotels with about 700 keys in aggregate were signed at key locations — Bodhgaya, Dehradun, Goa, Lucknow, Manesar, Mysore, Ranthambore and Vrindavan.
It currently has over 13,400 rooms under six brands – ITC Hotels, Mementos, Welcomhotel, Storii, Fortune and WelcomHeritage.
On the road ahead, ITV Hotels said it is “targeting to reach 220 operational hotels and over 20,000 keys by 2030”.
“The company has a robust pipeline of 58 hotels with over 5,300 keys with high salience of brownfield assets,” it said.
The company said that while the geopolitical developments in May 2025 had temporarily affected business in certain locations, the hospitality sector bounced back progressively thereafter.
On the outlook for the hospitality sector, it said, “A favourable demographic profile, steady domestic demand and rising consumption levels augur well for the hospitality industry in India.”
Aggregate room demand in India is expected to grow ahead of supply over the next few years, it added.
Further, the government’s thrust on enhancing infrastructure and connectivity, boosting employment and promoting the tourism sector and the potential for growth in foreign tourist arrivals are expected to continue fuelling growth in the Indian hospitality industry, the company said.
