IHCL reports robust Q4 performance, targets double-digit revenue growth in FY25

International news
The Indian Hotels Co. Ltd. (IHCL), one of the biggest hospitality companies in India, reported a strong performance for the full year 2023-24 and marked eight consecutive years of record performance, driven by key operational factors.

In Q4 2024, the hotel company’s net profit soared 27.43% YOY to stand at Rs. 418 crore ($50.11 million), while revenue jumped 18% YOY to Rs 1,951 crore ($233.9 million).

For the full financial year, net profit soared 26% YOY to Rs. 1,259 crore ($150.9 million), while revenue increased 17% to Rs. 6,952 crore ($833.5 million).

Demand buoyancy in the international portfolio helped the company achieve occupancy of 67%, which increased 700 basis points and resulting in RevPAR climbing 9% in the past financial year.

Through the year, IHCL signed 53 hotels and opened 34 properties, which includes a strategic partnership for 14 resorts under the Tree of Life brand. In the fourth quarter alone, the company opened six hotels, including three under its SeleQtions brand, two under Ginger and a Vivanta in Nepal.

The new signings and openings have led to IHCL’s total portfolio comprising 310 hotels, including 92 under development across 13 countries.