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Indian Hotels lacks valuation comfort despite strong outlook
Business Standard
|July 23, 2024
Tata Group-backed Indian Hotels Company Limited (IHCL), one of the country's largest hotel brands, reported a flat June quarter (Q1FY25) performance, weighed down by multiple headwinds on the revenue front.
Consolidated revenue growth at 5.7 per cent year-on-year (Y-oY) was lower than in previous quarters and was impacted by general elections, heat wave, and fewer wedding days. On a sequential basis, growth fell about 31 per cent.
In the June quarter, while average room rates (ARR) were up 2 per cent Y-o-Y, revenue per available room (RevPAR) performance too was muted with an increase of 4 per cent.
Growth rates Y-o-Y for the two parameters were the lowest in at least 10 quarters. Occupancies increased by 130 basis points to 76 per cent in the quarter.
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