Indian Hotels net up 27%, plans ₹3,500-cr capex over five years

Indian Hotels Company Ltd (IHCL) will invest ₹3,500 crore over the next five years towards key assets upgradation, building digital capabilities and select new projects, the company announced on Wednesday after declaring its fourth quarter result.

IHCL will also launch upscale hotels under the re-imagined Gateway brand and deliver double-digit revenue growth in FY25, it said.

Consolidated net profit for the Q4 FY24 grew 27 per cent on a y-o-y basis to ₹418 crore.

Puneet Chhatwal, MD & CEO, IHCL

The profit was led by 18 per cent growth in revenue which stood at ₹1,951 crore. The company generated an earning before interest tax depreciation and amortisation of ₹706 crore and reported a margin of 36.2 per cent.

“IHCL will continue to deliver double-digit revenue growth with new businesses at 30 per cent and opening of 25 hotels. IHCL will also introduce the re-imagined Gateway, a full-service hotel o¯ering in the upscale segment, an ideal fit to capture growth opportunities in emerging micro markets in metros and Tier-II and TierIII cities,” said IHCL Managing Director and CEO Puneet Chhatwal.

The brand roll-out starting with 15 hotels will commence with launches in Bekal and Nashik this quarter followed by destinations like Bengaluru, Thane and Jaipur.