THELEELA

** Jefferies expects "healthy" Q1FY26 growth for Indian hotel firms, undeterred by some travel softness in May due to military conflicts between New Delhi and Islamabad

** Q1 "started on a strong note in April, extending Q4 performance and June is expected to see normalcy" - note

** Adds, hotel firms to continue to benefit from industry uptrends, including demand outstripping supply

** Taj-parent Indian Hotels Co Ltd IHTL.NS, ITC Hotels ITCT.NS and Chalet CHAL.NS are brokerage's top sectoral picks

** On the day, IHTL flat, ITCT edges up 0.2%. CHAL down 1%

** All three cos outperformed or were in-line with industry in terms of Y/Y Q4 revenue growth per available room, a key operating metric

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of India's Schloss Bangalore <SCHL.NS> opens about 7% lower at 406 rupees in market debut, last down 1.8%

** Owner of luxury hotel chain "The Leela" saw $409 million initial public offering oversubscribed nearly five times last week

** IPO issue price was at 435 rupees and at listing Schloss valued at $1.62 bln

** Broader Nifty 50 .NSEI is down 0.6%

(Reporting by Sethuraman NR in Bengaluru)

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