Kotak sees 16% EBITDA CAGR for Indian hotels in FY26-28 as West Asia drag fades

Foreign travel rebound to lift occupancy from 68% to 72%; 4QFY26 RevPAR ₹6,868 (+5.3% YoY), ARR ₹10,100 (+6.3%). IHCL, The Leela and ITC Hotels led the quarter. Industry signed 61.9k keys in FY26 vs 41k FY25; branded inventory heading to 310k keys at 8% supply CAGR through FY31.

— Filed Sat, 6 Jun, 2026, 13:37 IST · Source BL · Consumer & Economy · Updated

Kotak Securities projects 16% EBITDA CAGR for Indian hotels over FY26-28 as West Asia crisis fades and foreign travel rebounds. IHCL, The Leela and ITC Hotels led 4QFY26 earnings; occupancy seen climbing to 72%.

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