Hotels & Resorts industry
76 companies · ₹2.7 L cr · 15 with AI deep dives · Q1FY27 report
Domestic RevPAR holds while West Asia FTA shock erodes rate and drags aggregate margins to a 6-quarter low
- Revenue YoY
- -7.5%
- EBITDA margin
- 28.6%
- +310bps YoY
- Price, 1 year
- -24.6%
- 23% of names up
- P/E vs own 5y
- -6.3%
- 32.6x now
Exhibit 1The quarter in numbers
constant panel of 22 companies above ₹500 cr- Jun 26
- 6,266 cr
- Mar 26
- 7,335 cr
- QoQ
- -14.6%
- Jun 25
- 6,775 cr
- YoY
- -7.5%
- Peak
- 8,008 cr
- vs peak
- -21.8%
- Jun 26
- 28.6%
- Mar 26
- 34.4%
- QoQ
- -580bps
- Jun 25
- 25.5%
- YoY
- +310bps
- Peak
- 35.8%
- vs peak
- -720bps
Breadth: 85% of 26 companies grew revenue year on year (was 76% a quarter earlier) and 35% expanded margin (was 48%).
Exhibit 2What it costs
24.71x - 42.93x across the panel todayThe median name trades at 32.6x, -6.3% against this industry's own 5-year median of 34.9x, and -43.2% against its own peak of 57.5x.
Exhibit 3Structure
₹2.7 L crIndian Hotels Co Ltd is 38.9% of this industry by market cap. The top 5 are 72.6% and the top 10 are 86.9%.
Exhibit 4Screen
P/E below the sub-industry median of 32.65x, 5y ROCE above its median of 8%, and at least 2 growth triggers stated on the latest earnings call.
Which names clear this screen is premium
The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.
See plans →Exhibit 5Coverage (25 of 76)
Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.
- Mcap
- ₹18,000 cr
- P/E
- 40.6x
- EV/EBITDA
- 24.2x
- ROCE
- 8.3%
- Margin
- 50.1%
- Rev YoY
- +28.1%
- Mcap
- ₹3,976 cr
- P/E
- 75.1x
- EV/EBITDA
- 7.1x
- ROCE
- 3.6%
- Margin
- 22.9%
- Rev YoY
- +4.5%
- Mcap
- ₹2,361 cr
- P/E
- 45.4x
- EV/EBITDA
- 1074.3x
- ROCE
- 6.4%
- Margin
- 31.9%
- Rev YoY
- +8.2%
- Mcap
- ₹5,922 cr
- P/E
- 72.4x
- EV/EBITDA
- 48.8x
- ROCE
- 27.2%
- Margin
- 21.6%
- Rev YoY
- +2.7%
Exhibit 6What managements said
from this industry's latest earnings calls · as of 2026-06-30Every Q1FY27 reporter flagged the West Asia conflict as the primary headwind. Airspace disruptions raised fares and reduced inbound FTAs ~10% YoY; Gulf carrier capacity cuts hit…
- CHALET (Q1FY27): “International business, ex of crew, remained flat year-on-year due to the West Asia…”
Exhibit 7Outlook
The outlook and what resolves next quarter
Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.
Create a free account →AppendixThe other 51 companies
1-30- Mcap
- ₹462 cr
- P/E
- 20.2x
- EV/EBITDA
- 13.3x
- ROCE
- 6.0%
- Margin
- 30.1%
- Rev YoY
- +5.5%
- Mcap
- ₹204 cr
- P/E
- -
- EV/EBITDA
- -42.2x
- ROCE
- -3.9%
- Margin
- -5.4%
- Rev YoY
- -36.1%
- Mcap
- ₹56 cr
- P/E
- 23.4x
- EV/EBITDA
- 11.5x
- ROCE
- 5.9%
- Margin
- 22.1%
- Rev YoY
- +14.3%
21 more companies
This industry has 51 constituents beyond the covered names. The first page is free; premium opens the rest.
See plans →