India's listed hotels post FY26 profit surge even as stocks slide 15-35%
IHCL, EIH, ITC Hotels, Lemon Tree and Leela rode firm room rates and ~65% occupancy to double-digit revenue gains in FY26. Industry RevPAR rose 7.4% to ~₹5,700, with Leela's PAT jumping to ₹406 cr from ₹47 cr. Yet the ~₹1.5 trillion sector corrected sharply as valuations reset against lofty expectations.
India's listed hotel chains—IHCL, EIH, ITC Hotels, Lemon Tree, Leela—posted strong FY26 revenue and profit growth on firm room rates and 65% occupancy, despite travel disruptions. Stocks corrected 15-35% as valuations compressed against elevated expectations.