Indian hotel chains ramp renovation capex to ₹2,000-3,000 cr in FY27 to defend pricing power
IHCL, EIH (Oberoi/Trident), Lemon Tree and Leela are loosening purse strings for marquee-asset makeovers. IHCL plans ₹2,500 cr over 3 years (₹1,000-1,200 cr annually), EIH ₹600-700 cr in FY26, and Leela targets 25% yield on cost — with 4,000 of 5,000 rooms already refurbished.
Major Indian hotel chains — IHCL, EIH (Oberoi/Trident), Lemon Tree and Leela — are ramping renovation capex on marquee properties, with combined FY27 spend estimated at ₹2,000-3,000 crore to protect pricing power and yields.