Indian Hotels Company Earnings: Loyalty Gains, Last-Minute Travel, Direct Bookings

Domestic travel may be IHCL’s golden goose right now, but it’s still keen to bring in foreign tourists.

Indian Hotels Company Limited (IHCL) reported its highest-ever full-year performance in fiscal 2025, driven by solid domestic travel demand and limited additions to hotel supply.

“Strong domestic business travel demand, coupled with mega wins like the Kumbh Mela, international music concerts like Coldplay and a strong wedding season, were the key demand drivers this year,” IHCL CEO Puneet Chhatwal said at an earnings call on Monday.

Those factors helped room-night sales grow 6% industry-wide, even as new room supply expanded by less than 3% year-on-year, allowing hotels in the country to fill more beds at higher rates.

IHCL re-affirmed its “Accelerate 2030” vision to operate 700 properties by the decade’s end. The