ITC Hotels

May 19 (Reuters) - ITC Hotels Ltd ITCT.NS:

• ITC HOTELS LTD - BUYS 100% OF ZURI HOTELS AND RESORTS ON 19 MAY 2026

• ITC HOTELS LTD - DEAL ENTERPRISE VALUE 2.05 BILLION RUPEES, CONSIDERATION UP TO 1.75 BILLION RUPEES

Source text: ID:nBSE4JxS2z

Further company coverage: ITCT.NS

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** Shares of India's ITC Hotels ITCT.NS fall as much as 2.59%, last down 1.63% to 152.95 rupees

** Hotel operator's Q4 revenue from operations rose 18% y/y, while profit climbed 23% y/y to 3.16 billion rupees ($32.82 million)

ROOM RATE GROWTH, MARGIN PRESSURE IN FOCUS

** Nomura ("buy"; cuts TP to 195 rupees from 210 rupees) says growth in average room rates lagged peers due to weaker tourism demand in South India; trims FY27/FY28 revenue estimates amid subdued travel activity

** Jefferies ("buy"; TP: 205 rupees) says foreign tourist arrival weakness and negative operating leverage hurt Q4 margins, though demand recovery in Q1FY27 could aid performance

** ICICI Securities ("buy"; TP: 229 rupees) expects domestic demand recovery and expansion of managed hotel pipeline to support long-term growth despite near-term geopolitical headwinds

** Elara Securities ("buy"; TP: 197 rupees) says Mideast tensions and higher fuel costs pressured margins, though new hotel signings and Kerala resort acquisition support medium-term outlook

($1 = 96.2875 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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May 15 (Reuters) - ITC Hotels Ltd ITCT.NS:

• ITC HOTELS LTD - ACQUISITION OF 100% OF THE SHARE CAPITAL OF ZURI HOTELS AND RESORTS

• ITC HOTELS LTD - DEAL AT ENTERPRISE VALUE OF 2.05 BILLION RUPEES

Further company coverage: ITCT.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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Jan 20 (Reuters) - ITC Hotels Ltd ITCT.NS:

• ITC HOTELS Q3 CONSOL NET PROFIT 2.35 BILLION RUPEES

• ITC HOTELS Q3 CONSOL REVENUE FROM OPERATIONS 12.31 BILLION RUPEES

Source text: ID:nNSEbxdQ3C

Further company coverage: ITCT.NS

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Dec 5 (Reuters) - British American Tobacco BATS.L has completed the sale of a 9% stake in ITC Hotels ITCT.NS for 38.2 billion rupees ($424.70 million), the tobacco giant said on Friday.

Following completion of the sale, it now holds about 6.3% in ITC Hotels, BAT said.

($1 = 89.9450 Indian rupees)

(Reporting by Ankita Bora and Raechel Thankam Job in Bengaluru; Editing by Rashmi Aich)

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** JM Financial starts ITC Hotels ITCT.NS with "sell", PT at 215 rupees

** Says growth will be restricted due to no new hotels being commissioned in near-term, stretched valuation

** Stock rated "buy" on avg; median PT at 270 rupees, per data compiled by LSEG

** ITCT drops ~1% to 243 rupees

** Stock gains 42% since listing on January 29

(Reporting by Komal Salecha)

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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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May 15 (Reuters) - ITC Hotels Ltd ITCT.NS:

• MARCH-QUARTER CONSOL NET PROFIT 2.57 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 10.61 BILLION RUPEES

• APPROVED CAPITAL EXPENDITURE FOR CONSTRUCTION OF A HOTEL IN VISAKHAPATNAM

• INVESTMENT REQUIRED FOR NEW HOTEL AT 3.28 BILLION RUPEES

Further company coverage: ITCT.NS

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** India's Kotak Mahindra Bank KTKM.NS, ICICI Bank ICBK.NS, ITC Hotels ITCT.NS, Mankind Pharma MNKI.NS, BSE BSEL.NS and others rise as FTSE's March semi-annual rebalancing comes into effect

** Index provider FTSE added BSEL, Kaynes Technology KAYN.NS, and others to FTSE All World Index; increased weights for ICBK, KTKM, ITCT, MNKI and others

** Rebalancing to lead to $1.4 billion net inflows into Indian stocks, say analysts; biggest beneficiary ICBK rises 1.6%

** Several global investors track index providers like FTSE for their portfolio allocations

** Central Depository Services CENA.NS, BSEL, KAYN, Apar Industries APAR.NS up between 3.2% and 3.6%, while KTKM and ITCT gain 2.3% and 4.9%, respectively

** Premier Energies PEME.NS and National Aluminium Co NALU.NS buck the trend, down 2.5% and 3%, respectively, despite FTSE inclusion

(Reporting by Vivek Kumar M)

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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)

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Jan 29 (Reuters) - Shares of ITC Hotels ITCT.NS fell 2.7% in debut trade on Wednesday, following its demerger from consumer goods firm ITC ITC.NS.

The stock slipped to 175 rupees on the National Stock Exchange, compared to a discovered price of 180 rupees determined during a pre-open trading session.

ITC ITC.NS had in July 2023 decided to spin off its hotel business into a separately listed firm to focus on its core cigarettes and food business.

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

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