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ITC Hotels First Quarter 2026 Earnings: Beats Expectations

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ITC Hotels (NSE:ITCHOTELS) First Quarter 2026 Results

Key Financial Results

  • Net income: ₹1.33b (up by ₹1.32b from 1Q 2025).
  • EPS: ₹0.64 (up from ₹0.017 in 1Q 2025).
NSEI:ITCHOTELS Earnings and Revenue Growth July 20th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

ITC Hotels Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 28%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in India.

Performance of the Indian Hospitality industry.

The company’s shares are up 9.6% from a week ago.

Balance Sheet Analysis

While it’s very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We’ve done some analysis and you can see our take on ITC Hotels’ balance sheet.

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Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.



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Hotels for Corporates, Dilapidated Rest Houses for the Common Man?

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As the government offers rundown rest houses to the public, questions rise over its ability to manage even basic tourist infrastructure.

Munish Sood

Shimla
In a move that has drawn both confusion and criticism, the Himachal Pradesh government has recently announced that state-run rest houses — long reserved for officials and VIPs — will now be open to the general public. This follows a separate decision by the government to hand over several loss-making tourism department hotels to private operators. Initially, 14 hotels were listed for privatization, but public pressure and political resistance led to 6 being pulled back from the process.

While the announcement to open rest houses to citizens might sound progressive, on the ground, the reality paints a bleak picture.

Rest Houses: A Crumbling Legacy

Most government rest houses across Himachal Pradesh are in dilapidated condition. With peeling walls, clogged drains, smelly bathrooms, unchanged linen, and absent hygiene protocols, they stand as monuments to neglect. Many lack even the most basic facilities such as proper beds, clean washrooms, or consistent electricity and water supply.

“There is no system. The linen hasn’t been changed for weeks, maybe months. You walk into a room and are greeted by a foul stench, damp mattresses, and often, dead insects. And God forbid if you ask for cleaning — the staff often behave as if they’re doing you a favour,” says Shivali Thakur, an avid solo traveller who recently stayed at a forest rest house near Palampur.

‘We can’t run hotels, how will we manage rest houses?’

Ironically, the same government that has admitted failure in managing full-service tourism hotels is now promising the general public access to properties that are in even worse shape.

A senior HPTDC employee, speaking on condition of anonymity, said:

“We have failed to maintain well-staffed and well-located tourism hotels. There is neither budget nor manpower to run rest houses, most of which are tucked away in remote areas. One caretaker, a cook, and occasionally a cleaner — that’s the entire staff structure. What kind of service can we offer to tourists in such a setup?”

Misuse, Mismanagement, and Chamchagiri

Beyond poor maintenance, many rest houses have become unofficial hangout spots for political loyalists and departmental favourites.

“These places are hardly ever available to common people even now,” says Netar Ram, a home stay owner in Kullu.

“They’re misused as party venues by aides of local politicians or as vacation spots for friends and families of bureaucrats. Opening them to the public sounds nice on paper, but unless the entire structure is overhauled, it’ll just remain a sham.”

According to locals, weekend “parties” with loud music, alcohol, and even unauthorized guests are common. Rooms are often blocked in advance for VIP associates, while genuine tourists are turned away with vague excuses about “no availability” or “maintenance issues.”

Two Policies, Two Faces

On one hand, the government is stepping back from running its own hotels — citing losses and inefficiency — and handing them to private players. On the other, it wants to directly manage rest houses and offer hospitality to citizens with almost no staff, no budget, and no training.

This policy contradiction has confused experts and angered tourism stakeholders.

“How can a government that can’t run a full-fledged hotel, with proper systems in place, expect to manage rest houses that are barely functional? What kind of service are we promising? This is not tourism development, it’s tourism dilution,” said a senior travel consultant based in Shimla.

A Call for Urgent Review

If the Himachal Pradesh government truly wishes to democratize tourism and offer affordable accommodation to the public, the focus must shift to urgent refurbishment, transparent booking systems, training of staff, and accountability in maintenance.

Otherwise, this ambitious move might just turn into another populist gimmick — a photo-op announcement that collapses under its own contradictions.



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Roseate Hotels Expands Portfolio, Eyes Dubai, Europe: Rediff Moneynews

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Roseate Hotels & Resorts plans to diversify with managed properties, expand to Dubai, Italy, France, Switzerland, and improve Indian hospitality.

New Delhi, Jul 20 (PTI) Roseate Hotels and Resorts — which owns luxury properties in India and the UK — is eyeing new markets including Dubai, Italy, France and Switzerland and looking at diversifying its portfolio with a mix of owned as well as managed properties, the company’s CEO Kush Kapoor said.

In an interview to PTI, Kapoor emphasised upon the need to market India better, streamline visa processes and improve the working conditions for hospitality sector employees in terms of rationalising their working hours and better wages, as key to attracting more foreign tourists to India and having a better talent pool for the hotel industry.

The Roseate Hotels and Resorts CEO also sought rationalisation of GST rates for the hospitality sector and lowering the number of licences required for hotels to reduce the compliance burden.

“Yes the focus is very heavily on India. We definitely want to be in the upscale market and would like to grow in tier 2 and tier 3 cities also. For us the most important thing is the location of our hotels. We are getting good proposals from the owners and owning partners who are keen to partner with us in terms of management agreements. So we are also looking into that,” Kapoor told PTI.

The Roseate Hotels and Resorts CEO further elaborated on its international expansion plans.

“We are very keen to operate hotels in the United Kingdom, we have five out there. The Noida hotel at the Jewar airport terminal should open in a year’s time. We will also expand our Rishikesh property post this monsoon.

We have a land bank in Goa so we should also get into the development of the Goa property by this year-end. We are very keen to get into places like Dubai and the key markets of Europe. We are definitely open to places like Italy, France and Switzerland,” Kapoor said.

He informed that Roseate was looking at properties having anywhere between 30 to 250 rooms.

“One thing is very clear, we are not going to be a Shaadi or a wedding hotel. We don’t want to have hotels with 300 and 500 rooms. So we are very clear on that part.

Anything ranges between a 30-room hotel to a 250-room hotel we are very keen to get into that segment,” Kapoor said.

He stressed that the working conditions for the employees first of all in the hotels needs to get much better.

“When I am talking about working conditions, I am talking specifically about working hours, that needs to be rationalised. Second, the pay needs to be way high (considering) the amount of time, energy, the employees spend in the organisation,” the Roseate Hotels and Resorts CEO said.

He asserted that “a lot needs to be done” in terms of marketing India better, urging to look at examples of countries like Dubai, Singapore and Vietnam to attract more foreign tourists to the country.



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Roseate Hotels looking to diversify portfolio with managed properties CEO- The Week

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New Delhi, Jul 20 (PTI) Roseate Hotels and Resorts — which owns luxury properties in India and the UK — is eyeing new markets including Dubai, Italy, France and Switzerland and looking at diversifying its portfolio with a mix of owned as well as managed properties, the company’s CEO Kush Kapoor said.
     In an interview to PTI, Kapoor emphasised upon the need to market India better, streamline visa processes and improve the working conditions for hospitality sector employees in terms of rationalising their working hours and better wages, as key to attracting more foreign tourists to India and having a better talent pool for the hotel industry.
     The Roseate Hotels and Resorts CEO also sought rationalisation of GST rates for the hospitality sector and lowering the number of licences required for hotels to reduce the compliance burden.
     “Yes the focus is very heavily on India. We definitely want to be in the upscale market and would like to grow in tier 2 and tier 3 cities also. For us the most important thing is the location of our hotels. We are getting good proposals from the owners and owning partners who are keen to partner with us in terms of management agreements. So we are also looking into that,” Kapoor told PTI.
     The Roseate Hotels and Resorts CEO further elaborated on its international expansion plans.
     “We are very keen to operate hotels in the United Kingdom, we have five out there. The Noida hotel at the Jewar airport terminal should open in a year’s time. We will also expand our Rishikesh property post this monsoon.
     We have a land bank in Goa so we should also get into the development of the Goa property by this year-end. We are very keen to get into places like Dubai and the key markets of Europe. We are definitely open to places like Italy, France and Switzerland,” Kapoor said.
     He informed that Roseate was looking at properties having anywhere between 30 to 250 rooms.
     “One thing is very clear, we are not going to be a Shaadi or a wedding hotel. We don’t want to have hotels with 300 and 500 rooms. So we are very clear on that part.
     Anything ranges between a 30-room hotel to a 250-room hotel we are very keen to get into that segment,” Kapoor said.
     He stressed that the working conditions for the employees first of all in the hotels needs to get much better.
     “When I am talking about working conditions, I am talking specifically about working hours, that needs to be rationalised. Second, the pay needs to be way high (considering) the amount of time, energy, the employees spend in the organisation,” the Roseate Hotels and Resorts CEO said.
     He asserted that “a lot needs to be done” in terms of marketing India better, urging to look at examples of countries like Dubai, Singapore and Vietnam to attract more foreign tourists to the country.



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