• Domestic growth guidance: The company remains on track for 12% to 14% top-line growth despite a high base, with the potential for an additional 100 basis points if the Middle East crisis subsides.
• Hotel expansion pipeline: IHCL plans to open more than 50 hotels this year—roughly 20 in the first half and over 30 in the second half—backed by a 32,000-key development pipeline slated to open by 2030–2031.
• Management fee outlook: Annual management fee income is currently around ₹700–800 crore and expected to exceed ₹1,000 crore within the next 12 to 18 months as the portfolio maintains a 70% capital-light and 30% capital-heavy mix.
• Capex and ROCE: The company is allocating ₹600–700 crore to routine capex alongside ₹700 crore for growth assets, including a ₹2,000 crore five-year investment in Taj Bandstand, while working to raise ROCE from 17%+ to 20% by 2030.