ITC Hotels Q2 results show the business firing on rooms, food and fees at once. The hotel chain posted consolidated net profit of ₹203 crore for the September quarter, up 52% from a year ago, according to the media statement it filed with NSE on Monday, October 26, 2026.
In this article
ITC Hotels Q2 results: the headline numbers
Consolidated revenue from operations came in at ₹1,054 crore, up 26% year on year. EBITDA rose 37% to ₹337 crore. Total consolidated income crossed ₹1,100 crore in what the company described as a milestone second quarter.
CNBC-TV18’s results liveblog carried slightly different rounding: net profit of ₹201 crore against ₹132 crore a year ago (up 52.3%), revenue of ₹1,054 crore against ₹840 crore, and EBITDA of ₹338 crore against ₹246 crore, with the margin at 32% versus 29.3%. The direction is the same either way.
The standalone business, which excludes subsidiaries, grew more slowly. Standalone revenue was ₹885 crore (up 16%), EBITDA ₹301 crore (up 28%) and profit ₹207 crore (up 37%).
Rooms did the heavy lifting
Strip out branded residences, the income from handing over apartments at its Sapphire Residences project, and revenue grew 17% to ₹983 crore. That is the cleaner number for the core hotel business. Inside it:
- Room revenue: up 22%, as both prices and volumes rose.
- Occupancy: up 481 basis points to 76% at same-store owned hotels.
- Average room rates (ADR): up 14%, taking revenue per available room (RevPAR) up 21%.
- Food and beverage revenue: up 12%, helped by catering for the BRICS summit in New Delhi.
- Management and operating fees: up 25%.
On the same ex-residences basis, EBITDA grew 28% to ₹314 crore and the margin widened 263 basis points to 32%. The company says its RevPAR runs 44% above the luxury, upper-upscale and upscale industry average. We’d watch that premium closely, because it is the clearest sign of pricing power. Our explainer on reading margins in results covers why margin moves often matter more than revenue growth.
All this came in a quarter when, by the company’s own account, domestic air passenger traffic fell 6% in August and September on higher fuel costs and airline capacity cuts. Hotels held up anyway.
Expansion and Sri Lanka
ITC Hotels signed 20 hotels with more than 1,600 keys in the first half of FY27, taking its managed pipeline to 84 hotels with about 8,200 keys. It completed the purchase of the 130-key Welcomhotel Ahmedabad, run as an owned hotel from September 1, and was allotted a 2.8-acre plot in Lucknow for a luxury hotel of 200-plus keys.
ITC Ratnadipa in Colombo posted positive EBITDA for the quarter, with Q2 RevPAR at 1.8 times FY25 levels.
What it means for investors
The second half is usually the stronger season for Indian hotels, with weddings and conferences, and management expects weddings, large conferences and social events to support demand and pricing. The question is whether rate growth of 14% can continue once the BRICS-driven bump fades. For a step-by-step method, see our guide on how to analyse quarterly results of a company, and our Q2 results calendar for this week for other companies reporting.
Disclaimer: This article is for information and education only and is not investment advice. Please do your own research or consult a SEBI-registered adviser before making any investment decision.
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