• Domestic midscale focus: CapEx allocation and asset-light growth remain heavily focused on India's midscale and upper-midscale segments, driven by rising domestic leisure, industrial, and pilgrimage travel.
• Gujarat expansion plans: With 13 properties currently operating in Gujarat and 19 planned, around 1,000 rooms under development through a capital-light model are expected to be ready before the Commonwealth event.
• Q2 operational performance: Occupancy and room rates have improved following a subdued Q1, keeping revenue per available room growth on track within the planned 6% to 8% range.
• Pipeline and additions: The company plans to sign around 5,000 keys and open roughly 2,000 rooms in FY27, noting that hotels take about three years to construct and 24 to 30 months to reach maturity.