After a quiet April-June quarter in 2024-25 (FY25), the operational and financial performance of India's largest listed hotel company, Indian Hotels Company, clearly rebounded in the July-September quarter (Q2) of FY25.
With double-digit growth in the average room rate (ARR) and higher occupancy, the Taj Hotels chain owner reported a 16 per cent revenue increase and a 30 per cent rise in operating profit. Total revenue grew by 27 per cent, including figures from the consolidated airline catering unit, TajSATS.
The company's best-ever Q2 results were well-received on the Street, with stock prices rising over 7 per cent on Friday, pushing its market capitalization above ₹1 trillion. Indian Hotels reported a standalone occupancy rate of 78 per cent, up 210 basis points (bps) from the same quarter last year, while room rates increased by 10.4 per cent to ₹14,321. This led to a 13.4 per cent rise in revenue per available room (RevPAR), which reached ₹11,163.
This story is from the November 11, 2024 edition of Business Standard.
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This story is from the November 11, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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