The Indian Hotels Co

May 11 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY LTD - DIVIDEND 3.25 RUPEES PER SHARE

• INDIAN HOTELS COMPANY MARCH-QUARTER CONSOL NET PROFIT 6 BILLION RUPEES

• INDIAN HOTELS COMPANY MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 27.65 BILLION RUPEES

Source text: ID:nBSE2wdwfV

Further company coverage: IHTL.NS

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By Praveen Paramasivam and Nathan Gomes

CHENNAI/BENGALURU, March 2 (Reuters) - India's Lemon Tree Hotels LEMO.NS is preparing to step up its overseas expansion over the next three to five years, as Indians increasingly travel abroad for leisure, a top executive said.

India is expected to become the world's fourth-largest outbound tourism market by 2035, behind the U.S., China and Germany, rising from 10th place, Capital Economics said last year.

"We would like to go where the Indian traveller is going," Managing Director and CEO Neelendra Singh told Reuters in an interview last week, citing popular destinations such as Thailand, Vietnam and Singapore as natural fits for the brand.

He did not share more details.

The midscale chain has five hotels outside India, two in Nepal and Bhutan and one in the UAE, out of more than 120 properties. Other hotel chains with luxury brands in their portfolio, including Taj owner Indian Hotels IHTL.NS and Oberoi operator EIH EIHO.NS, also have limited overseas footprints.

Lemon Tree has a pipeline of more than 120 hotels, with India remaining its main focus for now.

Owner of brands including Aurika, Red Fox and Keys Select, Lemon Tree is India's third-biggest homegrown hotel chain by number of rooms, behind Ginger-owner Indian Hotels and ITC Hotels ITCT.NS, which runs the Fortune and Welcomhotel brands.

Asked whether rising tensions in the Middle East could affect its plans, Singh said the company was sticking to its strategy, adding the expansion remained a mid-term goal.

At home, Lemon Tree is exploring bringing unbranded hotels into its system through a largely franchise-led model to tap India's vast independent hotel market, about half of which, according to industry estimates, is unbranded.

In January, it said it would shift all hotel ownership to subsidiary Fleur and become a fully asset-light operator, creating two publicly traded entities within 12 to 15 months.

​

(Reporting by Praveen Paramasivam and Nathan Gomes; Editing by Dhanya Skariachan and Harikrishnan Nair)

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Feb 12 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• DEC-QUARTER CONSOL NET PROFIT 9.03 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 28.42 BILLION RUPEES

Further company coverage: IHTL.NS

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Jan 15 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY LTD - APPROVES AGREEMENTS WITH ANK HOTELS AND PRIDE HOSPITALITY

• INDIAN HOTELS COMPANY LTD - COST OF ACQUISITION 2.25 BILLION RUPEES

• INDIAN HOTELS COMPANY LTD - IHCL TO BUY 51% STAKE IN BRIJ HOSPITALITY

Source text: ID:nNSE6CcmkS

Further company coverage: IHTL.NS

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Dec 30 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• IHCL SELLS 25.52% STAKE IN TAJ GVK HOTELS

• SHARES SOLD AT 370 RUPEES PER SHARE TO SHALINI BHUPAL

Source text: ID:nBSE637pGM

Further company coverage: IHTL.NS

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Sept 18 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY LTD - CLARIFIES ON REPORT TAJ MAY EXIT NYC'S PIERRE IN $2 BILLION DEAL

• INDIAN HOTELS COMPANY LTD - RECENT MEDIA REPORTS ON IHCL ARE MISLEADING

• INDIAN HOTELS COMPANY LTD - IHCL DOES NOT OWN THE PIERRE, NEW YORK

Source text: ID:nBSE5V12c4

Further company coverage: IHTL.NS

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Sept 4 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• DETECTED A MALWARE INCIDENT

• ACTION HAS BEEN TAKEN TO CONTAIN THE IMPACT AND SECURE THE SYSTEMS

• IT SECURITY INCIDENT AFFECTED SELECT IT SYSTEMS

Further company coverage: IHTL.NS

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Aug 12 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• IHCL ENTERS STRATEGIC PARTNERSHIP FOR 150+ HOTELS IN INDIA

Source text: ID:nBSE718lf5

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Aug 11 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY - TO BUY 51% STAKE IN ANK HOTELS FOR 1.10 BILLION RUPEES

• INDIAN HOTELS COMPANY LTD - TO BUY 51% STAKE IN PRIDE HOSPITALITY FOR 940 MILLION RUPEES

Source text: ID:nBSEbJKw3P

Further company coverage: IHTL.NS

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July 16 (Reuters) - ITC Hotels ITCT.NS, one of India's leading hospitality chains, reported a 54% rise in first-quarter profit on Wednesday, driven by a strong increase in room sales.

(Reporting by Manvi Pant and Chandini Monnappa; Editing by Sherry Jacob-Phillips and Rashmi Aich)

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June 30 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY LTD - SALE OF 100% SHAREHOLDING IN LEANLUXE HOSPITALITY

• INDIAN HOTELS COMPANY LTD - UNIT SELLS 100% STAKE IN LEANLUXE HOSPITALITY TO TATA SONS

Source text: ID:nNSE3LFHKV

Further company coverage: IHTL.NS

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April 14 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• IHCL INCREASES FOOTPRINT WITH 100 NEW LOCATIONS IN FY2025

Source text: ID:nBSE271N4t

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April 2 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• TAJ INTERNATIONAL HOTELS TRANSFERS RESTAURANT BUSINESS TO ST JAMES COURT HOTELS

Source text: ID:nBSE4vSNMK

Further company coverage: IHTL.NS

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March 26 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY LTD - INFUSES $9 MILLION EQUITY IN IHOCO BV

Source text: ID:nBSE2f3Lw0

Further company coverage: IHTL.NS

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March 3 (Reuters) - Praveg Ltd PAVE.BO:

• ANNOUNCES HOTEL MANAGEMENT AGREEMENT WITH INDIAN HOTELS COMPANY

• IHCL TO MANAGE PRAVEG'S BANGARAM ISLAND PROPERTY

Source text: ID:nBSE74N43D

Further company coverage: PAVE.BO

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Ujjaini Dutta

BENGALURU, Feb 12 (Reuters Breakingviews) - Indian Hotels IHTL.NS, owner of the luxury Taj brand, is emerging as a flag bearer of the South Asian country's tourism boom. The $12 billion company on Monday unveiled a fifth hotel under development in Mumbai. Overall it plans to more than double its footprint of properties to over 700 by 2030, and at least 10% of the additions will be overseas. But as domestic room tariffs hit the roof, Indians are increasingly eyeing overseas destinations.

The company shows no sign of being affected by a domestic consumption slowdown that is rippling across the economy. Revenue hit 25.9 billion rupees ($296 million) in the three months to the end of December, up 29% year-on-year, and its EBITDA margin grew 80 basis points to over 39%. Over the past 12 months, the stock outperformed the rallying Nifty 50 .NSEI by 34 percentage points and Indian Hotels is valued at 63 times its earnings for financial year 2025, roughly double the multiple for Marriot International MAR.O and Hilton Hotel HLT.N.

Rich Indians are splurging on weddings and events, and people are hungry for experiences. Coldplay’s concert in Ahmedabad in January had an audience of 134,000, and room rates for one nearby Taj property leapt as high as 120,000 rupees, roughly $1,386, for a double-occupancy two-night stay. It's not a one-off: a shortage of hotels in prime locations is pushing up prices across the board even though foreigners are visiting India in fewer numbers than before the Covid pandemic.

Overseas destinations start to look relatively attractive to domestic travellers beyond a certain expense, says Amit Kumar at HDFC Securities. India may become the world’s fourth-largest market for outbound tourism after the United States, China and Germany, up from 10th, by 2035, says Capital Economics. Popular destinations for the South Asian country's travellers include the Maldives, United Arab Emirates, Oman and Thailand.

Concerns about the sustainability of room rates within India are growing, however. Karan Khanna, an analyst at Ambit Capital, warns of a potential faster-than-expected surge in domestic supply as rivals including ITC Hotels ITCT.NS announce significant expansion plans in smaller cities. To address those worries, Indian Hotels is talking up its capital-light investment strategy. For now, it is on the move with rich India.

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CONTEXT NEWS

Indian Hotels Company on January 17 reported revenue of 25.9 billion rupees ($296 million) in the three months to the end of December, up 29% from the same period last year. Net profit for the period also rose 29% to 5.8 billion rupees.

(Editing by Una Galani and Aditya Srivastav)

((For previous columns by the author, Reuters customers can click on DUTTA/
[email protected]))

Updates with analyst comments, shares and valuations of rivals in paragraphs 5 through 8

By Hritam Mukherjee

Jan 29 (Reuters) - Shares of ITC Hotels ITCT.NS fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC ITC.NS, valuing the luxury hotels operator at 366.2 billion rupees ($4.23 billion).

The stock fell to as low as 172 rupees, compared to a discovered price of 180 rupees determined during a pre-open trading session. It was last down 2.2% at 176 rupees.

ITC ITC.NS spun off its hotel business into a separately listed firm to focus on its core cigarettes and food business, as the unit is among the conglomerate's smallest by revenue and also capital-intensive.

Shares of the parent firm, which now owns a 40% stake in ITC Hotels, were down 0.8%.

ITC Hotels' listing performance was in line with expectations, but the stock is witnessing selling pressure as it is set to exit key indices such as Nifty 50 .NSEI, Nifty FMCG .NIFTYFMCG and BSE Sensex .BSESN, said Prashanth Tapse, senior vice president of research at Mehta Equities.

Brokerage Jefferies estimated post-listing outflows to the tune of $190 million to $200 million.

Shares of rivals EIH EIHO.NS and Indian Hotels IHTL.NS, which own the "Oberoi" and "Taj" brands respectively, were up roughly 2% each.

ITC Hotels' market valuation is second only to Indian Hotels, which is valued at 1.08 trillion rupees. EIH has a market value of 222.67 billion rupees.

ITC Hotels, with its luxury property offerings, is stepping into the equity market at a time when affluent Indians are splurging on premium products ranging from watches to cars, apartments, and even bathrooms.

It operates more than 140 properties across India, Nepal and Sri Lanka, and offers premium amenities including private swimming pools, jacuzzis, and desert safaris.

India's luxury hotels market is expected to be valued at $4.83 billion by 2030 from $2.99 billion in 2025, estimates from market analytics firm Mordor Intelligence showed.

($1 = 86.5790 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H K)

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Jan 17 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• DEC-QUARTER CONSOL NET PROFIT 5.82 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 25.33 BILLION RUPEES

Source text: [ID:]

Further company coverage: IHTL.NS

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Ujjaini Dutta

BENGALURU, Jan 10 (Reuters Breakingviews) - Smoking is about to look even less attractive. Shares of India’s ITC ITC.NS, the $65 billion conglomerate backed by British American Tobacco BATS.L, have barely moved since the company announced plans in July 2023 to spin off hotels despite a rally in the emerging market's equities. Now ITC faces the prospect of higher taxes on its core cigarettes business. For boss Sanjiv Puri, the challenges of unlocking value will mount as growth in the economy slows.

His decision to list the hospitality business, which generates about 4% of the group’s revenue, makes sense. Despite the slowdown in consumption, the Indian premium tourism market is growing exponentially. ITC Hotels, whose shares are due to start trading in February, is a luxury specialist with some 140 properties from New Delhi to Colombo.

Indian Hotels IHTL.NS, part of the Tata Group and a direct competitor, trades at 58 times forward earnings. That's more than twice the multiple of ITC, which will share any success because it retains a 40% stake in the unit. In the meantime, separating from its parent will make it easier for the capital-intensive hotel chain to attract investors because many institutional funds shun tobacco stocks.

The fact ITC shares are stuck, however, reflects a threat rather than an opportunity. Last month, a group of ministers mulling a rationalisation of a goods and services tax proposed adding a fifth, higher, slab of 35% for tobacco products as well as aerated beverages, news agency PTI reported, citing an official. The current rate for cigarettes, which generate nearly half of ITC sales, is 28%.

Sin products are an obvious target for officials who want to boost government revenue: ITC's cigarette sales have barely recovered to the level they were at prior to the initial implementation of a nationwide GST in 2017. Companies expected the sheer number of tax slabs to reduce over time, not increase. Worse, Indians are lighting up again in the black market because cigarettes there aren't subject to tax. Those products were harder to come by during the pandemic but supply is easing again.

Puri, in his capacity as president of the influential Confederation of Indian Industry, is calling for lower taxes and a simpler three-tier GST structure to boost consumption. That would help restore some puff to both ITC and the economy.

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CONTEXT NEWS

Shares of ITC Hotels, a unit spun off from Indian tobacco-led conglomerate ITC, are expected to start trading in February.

In December, a group of ministers on the country’s Goods and Services Tax council proposed hiking the tax on sin goods like cigarettes, aerated beverages and tobacco products to 35%, from the current 28%, news agency PTI reported, citing an official.

(Editing by Una Galani and Aditya Srivastav)

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[email protected]))

Nov 19 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY - UNVEILS ACCELERATE 2030 STRATEGY

• INDIAN HOTELS COMPANY - AIMS TO GROW ITS PORTFOLIO TO MORE THAN 700 HOTELS

• INDIAN HOTELS COMPANY - AIMS TO DOUBLE ITS CONSOLIDATED REVENUE WITH 20% RETURN ON CAPITAL EMPLOYED

Source text: ID:nNSE9C17Tv

Further company coverage: IHTL.NS

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Nov 7 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• SEPT-QUARTER CONSOL NET PROFIT 5.55 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 18.26 BILLION RUPEES

Source text: ID:nBSE4qdDxH

Further company coverage: IHTL.NS

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July 19 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY JUNE-QUARTER CONSOL NET PROFIT 2.48 BILLION RUPEES

• INDIAN HOTELS COMPANY JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 15.50 BILLION RUPEES

Source text for Eikon: ID:nNSE91myPT

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BENGALURU, June 6 (Reuters) - ITC ITC.NS shareholders approved the Indian consumer goods maker's plan to carve-out its hotels business on Thursday, in line with the recommendation of some of its key proxy advisors.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Sonia Cheema)

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April 24 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY LTD MARCH-QUARTER CONSOL NET PROFIT 4.18 BILLION RUPEES VERSUS 3.28 BILLION RUPEES

• INDIAN HOTELS COMPANY LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 19.05 BILLION RUPEES VERSUS 16.25 BILLION RUPEES

• INDIAN HOTELS COMPANY LTD - DIVIDEND 1.75 RUPEES PER SHR

Source text for Eikon: ID:nNSEbCzLgq

Further company coverage: IHTL.NS

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March 26 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INDIAN HOTELS COMPANY LTD - INFUSED US$ 6.5 MILLION AS EQUITY IN ITS WHOLLY OWNED SUBSIDIARY IN NETHERLANDS

• INDIAN HOTELS COMPANY LTD - INVESTMENT AMOUNT WILL BE USED BY IHOCO BV TO FURTHER MAKE INVESTMENT IN ITS UNIT

Source text for Eikon: ID:nBSE8b2Xfl

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Feb 1 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• DEC-QUARTER CONSOL NET PROFIT 4.52 BILLION RUPEES VERSUS 3.83 BILLION RUPEES YEAR AGO

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 19.64 BILLION RUPEES VERSUS 16.86 BILLION RUPEES YEAR AGO

Further company coverage: IHTL.NS

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Nov 23 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• INVESTED 550 MILLION RUPEES IN EQUITY SHARES OF GENNESS HOSPITALITY

• INVESTED 350 MILLION RUPEES IN EQUITY SHARES OF QURIO HOSPITALITY

• BOTH INVESTMENTS ARE BY WAY OF SUBSCRIPTION TO RIGHTS ISSUES

• NO CHANGE IN SHAREHOLDING PERCENTAGE OF CO IN GENNESS AND QURIO

Source text for Eikon: ID:nBSE6YytY1

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Oct 27 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• APPROVED ISSUANCE OF SHARES OF CO ON PREFERENTIAL BASIS TO NEW VERNON, TICL

Source text for Eikon: ID:nBSE6YlGrc

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Oct 23 (Reuters) - Indian Hotels Company Ltd IHTL.NS:

• TO CONSIDER ISSUE OF SHARES VIA PREFERENTIAL ALLOTMENT, TO 2 ENTITIES HOLDING MINORITY STAKE IN UNIT OF CO

Source text for Eikon: ID:nBSE85W20M

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