ITC Hotels Q1 Financial Highlights

ITC Hotels Ltd, a leading name in the hospitality sector, announced a remarkable 53% increase in consolidated net profit for the June quarter, reaching Rs 133.71 crore, up from Rs 87.16 crore in the same period last year. This surge is attributed to significant growth in room and food service revenues.

Expansion and Future Goals

The company is on an ambitious path to operate 220 hotels and over 20,000 rooms by 2030. Having already surpassed the 200-hotel mark, ITC Hotels currently has 143 operational properties and 58 in the pipeline, signaling strong growth prospects.

Revenue and Operational Metrics

Revenue from operations saw a 15.5% rise to Rs 815.54 crore, compared to Rs 705.84 crore in the previous year. The company also reported a 9% increase in average daily rates and a 275 basis points improvement in occupancy, culminating in a 13% growth in RevPAR.

Strategic Signings and Market Outlook

With the addition of eight new properties and a focus on brownfield assets, ITC Hotels is strengthening its portfolio. The company remains optimistic about the hospitality industry's growth, fueled by domestic demand and government initiatives in infrastructure and tourism.