• Sector demand: First-half hotel demand grew 8.6% while supply additions were 3.9%, supporting pricing; Puneet Chhatwal said the sector is positioned for a strong second half, with Delhi, Mumbai, Goa and Rajasthan performing well.
• Growth and costs: Indian Hotels reiterated 12 to 14% top-line growth guidance, with growth north of 15% still seen as possible. Utility costs are rising, particularly at remote properties, while the company says it is positioned to manage cost increases.
• Business segments: Select services is targeting top-line growth north of 25% to 30%, while full services is expected to grow 15 to 20% minimum, if not 22%. October was looking outstanding, supported by wedding dates and the timing of Dussehra and Diwali.
• TajSATS and expansion: TajSATS has more than 50% market share but has been under pressure; it represents 12 to 14% of annual top line, with the remainder of the year expected to improve as international flights are added. The company is assessing acquisition opportunities, plans to keep scaling Ginger, and is expanding internationally, including lodges in Kruger National Park.
• Tourism outlook: Total inbound arrivals, including OCI travelers and people of Indian origin, are around 22 million and have grown at a CAGR of 3.6% over the last 10 years; domestic tourism grew at a CAGR of 11%. Chhatwal said India could attract 3 to 5,000 attendees for the 2027 WTTC summit.