What feeds Indian Hotels Company's robust outlook
The hospitality firm anticipates strong growth in the next half of the year, especially for its Ginger brand, says an Emkay Research report
Indian Hotels Company Ltd (IHCL) reported second-quarter (Q2 FY24) revenues as expected, with an occupancy rate of 75.9 per cent, compared to 69.8 per cent in Q2 FY23, and an 18 per cent yearly growth in average room rate, according to a report by Emkay Research.However, its profit margin was below expectations. The company anticipates strong growth in the second half of the year, especially...
Indian Hotels Company Ltd (IHCL) reported second-quarter (Q2 FY24) revenues as expected, with an occupancy rate of 75.9 per cent, compared to 69.8 per cent in Q2 FY23, and an 18 per cent yearly growth in average room rate, according to a report by Emkay Research.
However, its profit margin was below expectations. The company anticipates strong growth in the second half of the year, especially for its Ginger brand, with revenues expected to increase by over 20 per cent year-on-year.
IHCL is notable for its diverse revenue sources, efficient operations, and no debt. It plans to open 82 new hotels, adding around 11,000 rooms in the next few years. This is expected to increase its revenue and profit by 13 per cent and 16 per cent respectively, from 2023 to 2026, says the report