• Occupancy and demand: Hotel occupancy reached near all-time highs of roughly 79% to 80% over the last five months, driven entirely by resilient domestic demand despite broader geopolitical and domestic disruptions.
• Festive season outlook: Management expects high occupancy to sustain and room rates to increase significantly from October to March due to the festive season, rising international travel, and corporate events.
• Event-based pricing power: Large-scale conferences and events like the BRICS Summit and Bangalore air show drive substantial rate surges across roughly 100 to 125 impacted days annually, delivering a meaningful boost to full-year performance.
• Noida expansion agreement: The company signed a 60-year revenue-share lease with Ingka Centres for an upscale 162-room hotel in a 2.3 million square foot integrated development in Noida, restricting capital outlay to fit-outs.