ITC Hotels sees record financial results in first quarter post demerger from ITC
ITC Hotels MD Anil Chadha
NEW DELHI: Hospitals major ITC Hotels has reported its highest ever revenue and profit in the Jan-March, 2025, quarter — its first since demerger from the parent ITC Group. ITC Hotels had a revenue of Rs 1,017 crore, up 17% from age period last year, and a profit of Rs 264 crore, up 44% from same period last year.
In FY 2025, its revenue was Rs 3,333 crore and profit of Rs 698 crore. ITC Hotels share close at Rs 201.1, down 0.3% on BSE Thursday, when the broader market was up 1.48%.
In a statement, it said: 'Room revenues sustained strong growth trajectory driven by broad based performance across segments including retail, contracted, weddings and crew. The average daily rate was about Rs 12,500 and occupancy at 73%. Food & beverages revenue recorded strong growth.
(There was) stellar performance in banqueting and event catering, especially in wedding and institutional segments.'
In the last 24 months, it has signed 54 properties and opened 30 hotels across brands. 'In line with the company's 'asset-right' strategy, a substantial part of the recent room additions have accrued through management and franchising contracts. The strategy envisages driving growth while reducing capital intensity of operations by focusing on strong partnerships with asset owners, leveraging brand credentials and providing operational expertise.
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The company's presence has expanded to Tier 2 and 3 cities, where demand for premium hospitality is rapidly increasing. Business continues to witness growing interest amongst property owners to partner with its brands resulting in healthy generation of leads and pipeline of management contracts. The company has a pipeline of 50 hotels with over 4,500 keys with high salience of brownfield assets and targets a portfolio of 220 operational hotels with over 20,000 keys by 2030,' it aded.
The hotels business of ITC Ltd. was demerged into ITC Hotels Ltd. with effect from Jan 1, 2025.
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