NEW DELHI: ITC Hotels’ Thursday reported a 14.8% increase in consolidated revenue at Rs 936 crore this April-June, compared to Rs 816 crore in same period last fiscal. And the hospitality major’s profit rose 36% to Rs 180 crore, up from Rs 133 crore last Q1. The company’s share closed 5.2% lower on BSE at Rs 174, on a day when the broader market was down 0.3%.The company had eight new signings in Q1, with its managed portfolio surpassing 200 hotels with about 16,000 keys. “India’s hospitality sector entered Q1 FY27 under the shadow of West Asia conflict led disruptions. The month of April 2026 witnessed broad-based demand softness across key markets… weak foreign tourist arrivals. As travel sentiment improved, occupancy and room rates witnessed swift recovery in May and June 2026, underscoring structural resilience of the demand environment,” the company said in a statement.During the quarter, eight new hotels were signed in Jaipur, Manesar, Bhubaneswar, Sonipat, Shirdi, Shahjahanpur and Zirakpur. The quarter also saw the signing of the 25th Storii property at Amchong Tea Estate, Guwahati.Meanwhile, ITC Hotels Thursday announced the signing of a definitive agreement for strategic acquisition of a 130-room hotel in Ahmedabad. It will acquire 100% stake in GHK Hospitality and Infra Ltd (GHK) that owns Welcomhotel Ahmedabad. The transaction will be completed at an Enterprise Value of Rs 155 crore, on a debt-free and cash-free basis, subject to customary adjustments under the definitive agreement. The acquisition is expected to be consummated within the current quarter.ITC Hotels MD Anil Chadha said: “The acquisition of this hotel will mark another milestone in pursuit of the Company’s growth aspiration by adding another owned property in one of the fastest growing urban centres of India. Transitioning this established 130-room property from a managed contract to full ownership allows us to unlock greater value from the asset. Ahmedabad continues to be one of India’s most dynamic commercial and industrial centres, supported by significant infrastructure investments, strong long term demand fundamentals, and a diversified demand base. The hotel’s prime location, established brand positioning and consistent occupancy levels provides an attractive opportunity to enhance yields and cash flow generation over the long term.”
