27-Oct-2026 08:02:46
ITCHOTELSGeneral news
Jefferies on ITC Hotels ; Buy, TP Rs 220
Delivered a sharp beat, with consol EBITDA up 37% YoY (12% beat); ex-Sri Lanka residences, hotel Rev/EBITDA grew 17%/28% YoY with margins up 270bps. RevPAR rose 21%, mirroring strong sector trends, while mgmt fees grew 25% YoY. ITCH completed the Welcomhotel Ahmedabad conversion, added a Lucknow land parcel, & targets 10% key CAGR over FY26-31 (+3-4% CAGR owned keys) Raise EBITDA by 3-5% (14% EBITDA CAGR over FY26-FY29e).
ITC HOTELS LIMITED