• Demand outlook: Excluding spike events such as conferences, growth has been high double digit to mid teens. International traffic grew 13% in Q2 versus the same quarter last year, and the second half typically contributes about 65% of business.
• Growth channels: More than 50% of business is outside rooms, including F&B, wellness, transportation and ancillary revenue. ARQ clubs and luxury residences add new revenue streams; the CEO said ARQ could be a little more than ₹100 crore and builds lifetime affinity with the brand.
• Expansion plans: Management expects like-to-like hotels to grow double digit over the next 5 years, alongside Coorg’s ramp-up and at least 2 hotels from the balance sheet added annually. The portfolio is expected to grow from about 4,000 keys to 5,100, 5,200 keys by FY30.
• Margins and targets: Management expects margins in the 48 to 50, maybe 51% band. The interviewer’s projections of ₹4,000 crore revenue and EBITDA closer to ₹2,000 crore by FY30 were described by the CEO as within striking range and aligned with internal targets.
• Brookfield backing: The CEO said Brookfield has supported and guided the business since acquiring it and, in his view, is committed for the long run; he said questions about Brookfield’s stake are best answered by Brookfield.