MARKS EIGHT CONSECUTIVE QUARTERS OF RECORD PERFORMANCE

MUMBAI, APRIL 24, 2024: The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated financials for the fourth quarter and full year ending March 31^st, 2024.

CONSOLIDATED FINANCIAL RESULTS FOR Q4 AND FULL YEAR ENDED 31ST MARCH 2024

Q4 YoY PERFORMANCE

Commenting on the full year performance, Mr. Puneet Chhatwal, Managing Director & CEO, IHCL, said, “IHCL achieves its key goals under Ahvaan 2025 well ahead of time with a full year consolidated EBITDA margin of 33.7%, a portfolio of 300+ hotels and a cash position of INR 2,206 crores. Q4 FY24 marked eight consecutive quarters of record financial performance driven by double-digit revenue growth in same store hotels, incremental revenue from not like for like hotels and scaling of new businesses. With 53 signings in FY2024 IHCL achieved a portfolio of 310 hotels, enabled by attaining scale in each of our brands and forming strategic alliances in new market segments.

He added, “Looking ahead at FY2025, IHCL will continue to deliver double digit revenue growth with new businesses at 30%, and opening of 25 hotels. IHCL will also introduce the re-imagined Gateway, a full-service hotel offering in the upscale segment, an ideal fit to capture growth opportunities in emerging micro markets in metros and Tier II and Tier III cities. The brand roll-out starting with 15 hotels will commence with launches in Bekal and Nashik this quarter followed by destinations like Bengaluru, Thane and Jaipur. The brand will scale to a 100 hotels portfolio by 2030

“Investing in our competitive advantage of optimising the balance between operating leverage and fee-based business, IHCL has commenced a five-year capital deployment plan from FY2023 to FY2027 totalling INR 3,500 crores towards key asset upgradation, building capabilities and select new projects. This includes strengthening of our digital capabilities with new brand website launches starting May 2024, implementation of a new ERP system and Data Lake for advanced analytics with AI/ML capabilities.”

PERFORMANCE HIGHLIGHTS

Consolidated Revenue grew by 17% led by a 19% growth in Room Revenue and 12% in Food & Beverage.
Enterprise Revenue for the year stood at INR 13,090 crores, a 19% growth over the previous year with a 80% share from the domestic business.
1. Outperforming the industry on domestic same store RevPAR with a premium of 65% vs competition.
2. Demand buoyancy in the international portfolio led to an occupancy of 67%, an expansion of 700 basis points resulting in a RevPAR growth of 9% over the previous year.

INDUSTRY LEADING GROWTH

IHCL continues to demonstrate industry leading growth with 53 hotels signed and 34 hotels opened.
IHCL’s recent signings includes a strategic alliance for 14 resorts under the Tree of Life brand and 300 key Ginger at MOPA Goa, Taj branded hotel in Alibaug, Kollam, Indore and Pushkar, SeleQtions branded hotels in Kolkata and Amritsar and Vivanta branded hotel in Haridwar.
In Q4, IHCL opened 6 hotels with 3 hotels under SeleQtions in Jaisalmer, Tirupati and Munnar, 2 Ginger hotels in Durgapur and Ahmedabad and a Vivanta in Bharatpur, Nepal.

NEW BUSINESSES & MANAGEMENT FEE

IHCL’s New Business vertical comprising of Ginger, Qmin, amã Stays & Trails, The Chambers (membership fee) and TajSATS reported a revenue of INR 1,588 crores.
At a growth of 35% over the previous year, New Business clocked a growth rate double that of core IHCL Enterprise which grew at 17%
New Business now accounts for 12.1% share of IHCL Enterprise revenue an expansion of 140 bps from 10.7% in the previous year.
1. TajSATS clocked a revenue of INR 900 crores, 40% growth over the previous year maintaining an industry first EBITDA margin of 25.5%
2. Ginger reported a revenue of INR 486 crores, a 34% growth over the previous year with an EBITDAR margin of 41%. Reinforcing the brand’s lean luxe positioning, the new flagship Ginger Mumbai Airport clocked an 80% occupancy with an EBITDA margin 43% and PBT margin of 29.7%.
3. amã Stays & Trails clocked a revenue of INR 35 crores, a growth of 42% over previous year and achieved a portfolio milestone of 200 bungalows with 100 in operations.
4. Qmin reported a revenue of INR 101 crores, a 73% growth over previous year basis the inclusion of 35 Qmin outlets in Ginger hotels.
Management Fee income grew by 18% over the previous year at INR 470 crores reflective of IHCL’s asset-light strategy.

ESG+ FRAMEWORK OF PAATHYA

IHCL now uses 37% energy from renewable sources and has installed 343 EV charging stations across 142 locations in India.
Continuing its journey of eliminating single use plastic, IHCL has installed 40 bottling plants and achieved 48% recycling of water used.
IHCL partners and operates 32 skill centres across 15 States in India to build industry relevant talent pools.

About The Indian Hotels Company Limited

The Indian Hotels Company Limited (IHCL) and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj – the iconic brand for the most discerning travellers and ranked as India’s Strongest Brand 2023 as per Brand Finance; SeleQtions, a named collection of hotels; Vivanta, sophisticated upscale hotels; and Ginger, which is revolutionising the lean luxe segment.

Incorporated by the founder of the Tata Group, Jamsetji Tata, the Company opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 310 hotels including 92 under development globally across 4 continents, 13 countries and in over 100 locations. The Indian Hotels Company Limited (IHCL) is India’s largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.

Please visit: www.ihcltata.com; www.tajhotels.com; www.seleqtionshotels.com; www.vivantahotels.com; www.gingerhotels.com

For more information, please contact: kirti.dhingra@ihcltata.com

AWARDS AND RECOGNITION

BRAND FINANCE’S BRAND VALUE REPORT INDIA 2023 - TAJ RANKED AS INDIA’S STRONGEST BRAND FOR THIRD TIME.
MR. PUNEET CHHATWAL, MD & CEO, IHCL, HONOURED WITH HIS INDUCTION TO THE PRESTIGIOUS GLOBAL TRAVEL HALL OF FAME – TRAVEL WEEKLY
TAJ RANKED THE BEST IN THE ‘WORLD’S FINEST LUXURY GRAND PALACES’ CATEGORY BY ‘101 EXECUTIVE SUMMIT’, GERMANY
GOLDEN PEACOCK AWARD FOR HR EXCELLENCE, 2023 AWARDED TO IHCL
IHCL RECOGNISED BY CONFEDERATION OF INDIAN INDUSTRY (CII) IN TOP 50 INNOVATIVE COMPANIES OF 2023
IHCL RECEIVED 2023 INTERNATIONAL CENTER FOR RESPONSIBLE TOURISM (ICRT), INDIA FOUNDATION RESPONSIBLE TOURISM AWARD FOR 'BEST FOR TACKLING PLASTIC WASTE’
GOLDEN PEACOCK AWARD FOR RISK MANAGEMENT 2023.
TRIPADVISOR - 2023 TRAVELLERS’ CHOICE AWARD - RAMBAGH PALACE, JAIPUR RANKED WORLD’S NO. 1 HOTEL
GOLDEN PEACOCK AWARD FOR TRAINING 2023
CNBC TV18 - ICICI LOMBARD INDIA RISK MANAGEMENT AWARDS 2023 - MASTER OF RISK IN BUSINESS MODEL ADAPTABILITY
CONDÉ NAST TRAVELER READER’S CHOICE AWARDS 2023
1. 1. HOTELS ON BEST HOTELS IN INDIA LIST
    1. UMAID BHAWAN PALACE, JODHPUR – RANKED NO. 1
    2. TAJ LAKE PALACE, UDAIPUR
    3. TAJ NADESARPALACE, VARANASI
    4. THE TAJ MAHAL PALACE, MUMBAI
  2. BEST RESORT ASIA - TAJ ARAVALIRESORT & SPA, UDAIPUR
  3. BEST RESORT IN THE INDIAN OCEAN - TAJ CORAL REEF RESORT & SPA, MALDIVES
  4. BEST RESORT IN MIDDLE EAST - TAJ EXOTICA RESORT & SPA, THE PALM, DUBAI
CONDE NAST GOLD LIST 2023 – THE TAJ MAHAL PALACE, MUMBAI
LA LISTE WORLD’S BEST HOTELS 2023 – TOP 1000 WORLD’S BEST HOTELS
TRAVEL + LEISURE READERS' - "WORLD’S BEST AWARDS"
1. 1. 1. 25 FAVORITE HOTEL BRANDS OF 2023 - TAJ HOTELS RESORTS & PALACES
    2. FAVOURITE RESORTS IN INDIA OF 2023 - TAJ LAKE PALACE, UDAIPUR
    3. BEST 100 HOTELS IN THE WORLD - TAJ LANDS END, MUMBAI, INDIA
    4. BEST CITY HOTELS IN ASIA - TAJ LANDS END, MUMBAI
    5. FAVORITE CITY HOTELS IN INDIA OF 2023 - TAJ LANDS END, MUMBAI
    6. 15 FAVORITE HOTELS IN NEW YORK CITY OF 2023 - THE PIERRE, NEW YORK