IHCL posts 32% revenue growth, plans ₹1,200 crore investment
Indian Hotels (IHCL) just posted a 19% jump in profit for April-June 2023, reaching ₹296 crore.
Revenue shot up 32% to ₹2,041 crore, beating expectations—even though the profit number missed some forecasts.
The company managed this growth despite flight disruptions and international tensions.
IHCL's hotels stayed busy, with revenue per room up 13%
IHCL's hotels stayed busy, with revenue per room up 13%, thanks to steady demand at home and abroad—even after events like the Pahalgam attack and Israel-Iran conflict.
They've added 12 new properties (now over 390 hotels total) and launched six new locations last quarter.
Looking ahead, IHCL plans to invest ₹1,200 crore in upgrades and tech by FY26.
CEO Puneet Chhatwal is upbeat about next quarter, especially with more events and diplomatic travel on the horizon.