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Indian Hotels - Citius, Altius, Fortius: ICICI Securities

Indian Hotels - Citius, Altius, Fortius: ICICI Securities

<div class="paragraphs"><p>The Connaught in New Delhi, part of Indian Hotels’ SeleQtions brand of hotels. (Source: Company website)</p></div>
The Connaught in New Delhi, part of Indian Hotels’ SeleQtions brand of hotels. (Source: Company website)

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ICICI Securities Report

We attended The Indian Hotels Company Ltd.’s Capital Market Day where the company announced its 'Ahvaan 2025' strategy which essentially focuses on four key pillars including:

  1. reaching a total of 300 plus hotels across the portfolio,

  2. clocking a consolidated Ebitda margin of 33% by FY26E with 35% Ebitda share from management contracts and new businesses,

  3. achieving a 50:50 ratio between owned/leased and management contract room keys and

  4. retaining a net cash balance sheet while pursuing its growth plans.

The Ahvaan strategy is an extension of Indian Hotels’ earlier 'Aspiration 2022' strategy which focused on asset light expansion and improvement in margins.

Click on the attachment to read the full report:

ICICI Securities IHCL Update.pdf

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