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Hotel chain demerged from ITC Limited, operating luxury and premium hotels under ITC Hotels, Welcomhotel and Fortune brands.
Hotel chain demerged from ITC Limited, operating luxury and premium hotels under ITC Hotels, Welcomhotel and Fortune brands.
Earns from room and food-and-beverage sales at hotels it owns, and from fees for running or licensing hotels owned by others, a route to expansion without paying for each building. It separated from ITC Limited in 2025, and ITC kept a minority stake.
Moat: narrow (brand, installed base). Established luxury hotel brand and prime real-estate locations built over decades under ITC.
Headquarters: Kolkata, India · Founded: 2025 · Employees: 3,038
Size ITC Hotels (ITCHOTELS.NS) is an India Consumer Discretionary company (Hotels/Resorts/Cruise lines) with a market value of $3.85B, the 246th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹174.41 on 6 Nov 2026.
Performance Over six months the shares gained 5.0%, against +5.4% for the median peer and 0.0% for the India market (cap-weighted) — 11th highest of 21 in its peer set.
Growth Revenue grew 64.8% over the last twelve months (peer median +3.4%); the operating margin is 25.4% (peer median 16.4%).
Valuation It trades at 34.6× forward earnings against a peer median of 17.0× (3rd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 37% a year for seven years (Req g). Recent delivered growth is +65%, so the hurdle is -28 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.6 points below its cost of capital (16.9% WACC).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | ₹44.7B | ₹41.4B | ₹35.6B | ₹22.2B |
| Revenue growth | — | +16% | +60% | — |
| Gross profit | ₹26.5B | ₹19.3B | ₹16.0B | ₹10.0B |
| EBITDA | ₹15.6B | ₹14.8B | ₹12.6B | ₹7.71B |
| Net income | ₹9.32B | ₹8.17B | ₹6.35B | ₹4.22B |
| Free cash flow | n/a | ₹8.49B | ₹4.42B | ₹13.4M |
| Capital expenditure | n/a | ₹4.10B | ₹3.86B | ₹6.73B |
| Total debt | ₹1.56B | ₹742M | ₹733M | ₹736M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| ITC Hotels ITCHOTELS.NS | $3.85B | +5% | +65% | 25% | 34.6× | 37.0% |
| Indian Hotels INDHOTEL.NS | $13.4B | +33% | +15% | 26% | 55.6× | 42.0% |
| EIH EIHOTEL.NS | $2.07B | -7% | +8% | 29% | 23.2× | 28.9% |
| Chalet Hotels CHALET.NS | $1.88B | +2% | -17% | 34% | 28.1× | 24.1% |
| Leela Palaces Hotels & Resorts THELEELA.NS | $2.45B | +65% | +17% | 42% | 43.7× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ITCHOTELS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.6% | +9.0% | 10th highest of 21 |
| 6-month return | +5.0% | +5.4% | 11th highest of 21 |
| Distance from 52-week high | -20.3% | -12.9% | 6th lowest of 21 |
| Revenue growth (TTM) | +64.8% | +3.4% | highest of 21 |
| Operating margin | 25.4% | 16.4% | 5th highest of 21 |
| Forward P/E | 34.6× | 17.0× | 3rd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 37.0% | 3.2% | most demanding of 18 |
| Growth delivered (Del g) | +64.8% | +16.0% | highest of 18 |
| Hurdle (Req g minus delivered) | -27.8 pp | -15.8 pp | 3rd least demanding of 18 |
| ROIC minus cost of capital | -8.6 pp | -0.1 pp | lowest of 20 |
| EV / EBITDA | 22.2× | 13.2× | 3rd most expensive of 19 |
| Net debt / EBITDA | -1.1× | 4.1× | 2nd least indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ITC Hotels ITCHOTELS.NS | India | $3.85B | +5% | +65% | 25% | 34.6× | 37.0% | +64.8% |
| Monte-Carlo Societe des Bains de Mer BAIN.PA | France | $4.06B | +9% | +12% | 9% | n/a | 24.2% | +20.7% |
| Travel + Leisure TNL | United States | $4.54B | +15% | +5% | 17% | 8.8× | 3.2% | +11.2% |
| Shanghai Jin Jiang International Hotels 600754.SS | China | $3.18B | -16% | +5% | 14% | 19.5× | -8.1% | +6.9% |
| Atour Lifestyle Holdings Ltd. Sponsored ADR ATAT | United States | $4.82B | -6% | +45% | 21% | 15.8× | 1.8% | +43.1% |
| Red Rock Resorts RRR | United States | $5.06B | -11% | +1% | 23% | 17.9× | 13.3% | +11.2% |
| Guoco 0053.HK | Hong Kong | $2.90B | 0% | -11% | 13% | n/a | -3.9% | +16.0% |
| Choice Hotels International CHH | United States | $5.29B | +12% | +2% | 25% | 15.8× | 4.8% | +15.6% |
| Melia Hotels International MEL.MC | Spain | $2.67B | -10% | +5% | 13% | 15.2× | 7.3% | +31.5% |
| Wyndham Hotels & Resorts WH | United States | $5.64B | -6% | +1% | 37% | 15.2× | 1.8% | +1.8% |
| Vail Resorts MTN | United States | $5.66B | +26% | -4% | 16% | 27.9× | 9.6% | +8.2% |
| Leela Palaces Hotels & Resorts THELEELA.NS | India | $2.45B | +65% | +17% | 42% | 43.7× | n/a | n/a |
| Seibu 9024.T | Japan | $6.11B | +2% | -41% | 10% | 29.6× | n/a | n/a |
| Resorttrust 4681.T | Japan | $2.36B | -1% | +8% | 12% | 16.4× | -6.4% | +9.4% |
| Whitbread WTB.L | United Kingdom | $6.37B | +25% | +2% | 21% | 15.8× | 9.7% | +37.7% |
| Scandic Hotels SHOT.ST | Sweden | $2.29B | +16% | +3% | 13% | 17.2× | 3.2% | +24.4% |
| BTG Hotels (Group) Co Ltd Shs -A- 600258.SS | China | $2.25B | -14% | -3% | 18% | 17.0× | -11.1% | +7.6% |
| Lindblad Expeditions LIND | United States | $2.23B | +61% | +17% | 8% | 89.0× | 33.0% | +56.4% |
| Hbx Group International HBX.MC | Spain | $2.19B | +29% | +4% | 38% | 9.6× | -4.2% | +18.4% |
| Hotel Properties H15.SI | Singapore | $2.07B | +11% | +2% | 7% | n/a | n/a | n/a |
| EIH EIHOTEL.NS | India | $2.07B | -7% | +8% | 29% | 23.2× | 28.9% | +42.9% |