ITC Hotels: Growth Momentum Continues Through Unmatched Hospitality

• Highest ever Q2 revenue and profits, despite subdued travel / leisure activity and lesser number of auspicious dates for weddings;

• Consolidated Revenue from Operations at ₹ 839 cr. up 8%, EBITDA at ₹ 246 cr. up 16%, and PAT at ₹ 133 cr. up 74%
• EBITDA up 22% on a comparable basis        

• Growth pipeline expands to ~5900 keys with over 60 hotels
• New Brand launched – ‘Epiq Collection – Member ITC Hotels’ Group’; to accelerate growth in the premium segment
• ITC Ratnadipa sustains RevPAR leadership in Colombo; EBITDA positive in Q2 FY26
• Reinforcing Sustainability Credentials - New 3.3 MW windmill facility commissioned in Gujarat

MACRO ECONOMIC & OPERATING CONTEXT

The Indian economy remained resilient during the quarter ended September 2025, amidst heightened global uncertainty, evolving geo-political dynamics and geo-economic developments. Headline inflation moderated to 1.5% in September, majorly driven by easing of food prices. Air passenger traffic in July and August marginally declined by 2% over last year, due to reduced operating capacities and adverse weather conditions. Despite the geopolitical headwinds, economic growth remains anchored by structural reforms, fiscal support, and a stable financial system, with RBI revising its growth estimates for FY 2025-26 upward from 6.5% to 6.8%.

PERFORMANCE HIGHLIGHTS - STANDALONE

The Company delivered a robust performance during the Second Quarter of FY25-26, powered by its the ‘Asset-Right’ strategy, commitment to operational excellence and world class service standards.

• Room Revenue growth was driven by robust performance in the Retail, Corporate and MICE segments.

• The ADRs for the quarter grew by 6% and Occupancy expanded by 254 bps, resulting in overall standalone RevPAR growth of 9%.
• The consolidated RevPAR of the Company registered a double-digit growth of 11% during the quarter over last year.
• Despite headwinds, the Company commanded a 40% RevPAR premium over the Industry[1], reflecting the strength of its superior product and service.

• Food & Beverage (F&B) Revenue grew 5% on a high base (2 year CAGR 10%) driven by outlets and banqueting. The Business continued to delight its guests through innovative culinary offerings and strategic refresh of Food & Beverage outlets. During the Quarter, ‘Avartana’ at ITC Grand Chola Chennai, ‘Bukhara’ & ‘Dum Pukht’ at ITC Maurya, New Delhi won top honors at the Condé Nast Traveller Top 50 Restaurants. The Company successfully re-launched ‘Edo’ at ITC Gardenia with a vibrant concept and refreshed look. Wedding segment revenue was relatively lower on account of lesser auspicious dates in the quarter.
• EBITDA margin for the Quarter stood at 31% and expanded by 215 bps on a comparable basis, driven by growth in Room and F&B revenue, higher management fees, structural cost interventions and operating leverage.
• The Company is proud to announce the launch of its new premium brand, ‘Epiq Collection – Member ITC Hotels’ Group’. This strategic addition to the portfolio is designed to accelerate the Company’s premiumization journey by focusing on the conversion of high-quality hotels with new owned and managed properties. The initial Epiq Collection projects are under development in Puri and Tirupati; these will mark the brand’s debut in culturally rich destinations. Epiq Collection Puri, the company’s owned hotel with 118 rooms, and Epiq Collection Tirupati, a managed hotel with 201 rooms, will open and join the CLUB ITC rewards programme in the next two years. With this new brand launch, ITC Hotels aims to add about 1,000 keys under Epiq Collection over medium term, reinforcing its commitment to offering elevated hospitality experiences across India. This initiative also reflects ITC Hotels continued focus on rapidly expanding hospitality footprint while offering a distinctive, locally inspired experience under a unified premium brand identity.
• Driven by its ‘Asset-Right’ strategy, ITC Hotels is pursuing capital-efficient growth through strong partnerships and operational excellence, with a growing presence in Tier 2 and 3 cities where demand for premium hospitality is rising.

The Company today has a portfolio of 207 hotels - with 146 operational and 61 in the pipeline. During the quarter, the Company signed new hotels in Patna, Hyderabad, Tirupati, Wayanad, Nellore, and Mantralayam, reinforcing its presence in high-potential markets. During H1, 15 hotels were signed totaling approximately 1,500 keys, while four new openings added 281 operational keys.

During the quarter, the Company marked its entry into Kerala with the launch of Fortune Kochi, and future openings are planned in Wayanad (Storii) and Kakkanad (Fortune). In Bihar, Welcomhotel Bodh Gaya opened in October’25, while a new luxury hotel in Patna has been signed under the ITC Hotel brand. These properties are poised to redefine luxury Hospitality in the region.

With increasing interest from property owners and a robust managed hotels pipeline - primarily brownfield assets, the Company is well-positioned for sustained expansion.

The Company continues to make progress towards scaling its portfolio of Owned hotel rooms with investments in greenfield hotel projects at Puri and Vishakhapatnam and addition of a new block at its existing hotel at Bhubaneshwar.

• The Company launched its first international property ITC Ratnadipa[1] in April 2024 at Colombo, Sri Lanka. During the Quarter, the hotel continued to demonstrate market leadership in terms of RevPAR and also turned EBITDA positive. Sri Lanka’s hospitality sector is experiencing strong resurgence and is emerging as one of the fastest growing tourism markets in Asia. For the first nine months of 2025, total foreign tourist arrivals surpassed 1.73 million representing a complete recovery (as compared to 2018 levels).
• During the Quarter, ITC Grand Chola, Chennai, was ranked #1 amongst the Top 10 Sustainable Hotels by Sustainability Magazine.ITC Maurya, Delhi another flagship property of the Company, became world’s first BRI-verified building to achieve AA+ rating.

‘ITC Hotels’ - a global exemplar in sustainability takes immense pride with largest number of LEED Platinum® certifications in the world wherein 23 of its hotels have this highest recognition; the first 12 hotels in the world to be LEED® Zero Carbon certified and the first 9 hotels in the world to be LEED® Zero Water certified are all ITC Hotels.

• In line with its Responsible Luxury ethos, the Company commissioned a 3.3 MW windmill in Gujarat, which would further boost the renewable electricity share in the overall electricity consumption, reinforcing the Company’s commitment to sustainable operations and net zero carbon goals.
• The Company recently launched its all-new Club ITC loyalty programme. The reimagined programme offers members a smooth and elevated experience across every touchpoint. The refreshed Club ITC programme inter-alia includes a tier-based earning system, an upgraded digital interface, ensuring members enjoy instant gratification and a milestone-based rewards system, making every interaction more delightful. Further, the signature Culinaire programme seamlessly integrates with Club ITC, enriching customer experiences. 

The Board of Directors, at its meeting on 24^th October 2025, approved the financial results for the Quarter and Half year ended 30th September 2025.