How India buys hotel stays
7 listed companies sold ₹13,184 crore of hotel stays in FY25. Indian Hotels Co Ltd sold the most, 57.8% of it. Oberoi Realty Ltd earned the most on each rupee of sales: 38.6%.
The brands, and who owns them
Gateway, Gateway Hotels and Resorts, Gateway Hotels & Resorts, Ginger and others are Indian Hotels Co Ltd's; ITC Hotel, Fortune, Fortune Hotels, Fortune Park and others are ITC Hotels Ltd's; Golden Chariot is Indian Railway Catering & Tourism Corporation Ltd's; The St. Regis, The St. Regis Mumbai, Courtyard by Marriott Agra are Phoenix Mills Ltd's. Brands are read from each company's filings and checked against a public source.
Who sells the most
Indian Hotels Co Ltd had 57.8% of the listed companies' sales of hotel stays here, 2.2 times as much as ITC Hotels Ltd, the next largest. The two together sold 84%; the other 5 the rest.
How the sales have grown, and who sold them
The listed companies here sold ₹14,255 Cr of hotel stays in FY26. Counting only the companies with figures in both years, sales went from ₹0 Cr in FY23 to ₹0 Cr. The biggest rise was in FY24 (+30%) and the weakest year FY25 (-60%). Indian Hotels Co Ltd's part of the total went from 58% in FY25 to 59% in FY26. Some companies are counted only from a later year (Indian Hotels Co Ltd from FY25; ITC Hotels Ltd from FY25; Indian Railway Catering & Tourism Corporation Ltd from FY25; Phoenix Mills Ltd from FY25; Oberoi Realty Ltd from FY25; Godrej Industries Ltd from FY25).
Who earns the most on each rupee
Operating profit before interest and tax, as a share of sales of hotel stays. Indian Hotels Co Ltd earned 28.5% on its sales in FY26, against 27.8% in FY25. ITC Hotels Ltd earned 24.5% on its sales in FY26, against 23.0% in FY25. Indian Railway Catering & Tourism Corporation Ltd earned 14.3% on its sales in FY26, against 12.6% in FY25. Phoenix Mills Ltd earned 28.5% on its sales in FY26, against 21.0% in FY25. Oberoi Realty Ltd earned 35.2% on its sales in FY26, against 38.6% in FY25.
The companies, and their brands
| Company and brands | Sales FY25 | Growth 1 yr | 3 yrs | 5 yrs | Margin | Profit share | Return on assets | P/E | ROE | Share price 1 yr |
|---|---|---|---|---|---|---|---|---|---|---|
| Indian Hotels Co Ltd Gateway, Gateway Hotels and Resorts, Gateway Hotels & Resorts, Ginger, Taj, Vivanta, Atmantan, Brij, Brij Hotels, Claridges Collection, Clarks, IHCL SeleQtions Sells in 12 states; exports 0.0% of turnover |
₹7,619 Cr | +11.3% | — | — | 27.8% | 65.3% | 13.0% | 48.0 | 12.2% | +0.4% |
| ITC Hotels Ltd ITC Hotel, Fortune, Fortune Hotels, Fortune Park, ITC Gardenia, ITC Grand Bharat, ITC Grand Central, ITC Grand Chola, ITC Kakatiya, ITC Maratha, ITC Maurya, ITC Ratnadipa |
₹3,484 Cr | +10.6% | — | — | 23.0% | 24.7% | 9.2% | 37.5 | 7.2% | -25.9% |
| Indian Railway Catering & Tourism Corporation Ltd Golden Chariot Sells in 28 states; exports 0.0% of turnover |
₹742 Cr | +19.5% | — | — | 12.6% | 2.9% | — | 26.9 | 35.0% | -33.4% |
| Phoenix Mills Ltd The St. Regis, The St. Regis Mumbai, Courtyard by Marriott Agra Sells in 1 states; exports 0.0% of turnover |
₹671 Cr | +7.8% | — | — | 21.0% | 4.3% | 15.1% | 53.2 | 5.0% | +17.0% |
| Prestige Estates Projects Ltd Sells in 8 states; exports 0.0% of turnover |
₹373 Cr estimate |
-60.4% | — | — | — | — | — | 56.1 | 1.0% | -7.4% |
| Oberoi Realty Ltd Sells in 2 states; exports 0.0% of turnover |
₹193 Cr | +2.7% | — | — | 38.6% | 2.3% | 4.5% | 23.6 | 12.9% | +9.5% |
| Godrej Industries Ltd Sells in 28 states and 70 countries; exports 24.0% of turnover |
₹101 Cr | +13.0% | — | — | 15.2% | 0.5% | 2.0% | 28.6 | -7.3% | -6.1% |
See every one of these companies in Valarth
Questions people ask
Which listed companies sell hotel stays in India?
7 listed companies report their sales of hotel stays: Indian Hotels Co Ltd (INDHOTEL), ITC Hotels Ltd (ITCHOTELS), Indian Railway Catering & Tourism Corporation Ltd (IRCTC), Phoenix Mills Ltd (PHOENIXLTD), Prestige Estates Projects Ltd (PRESTIGE), Oberoi Realty Ltd (OBEROIRLTY), Godrej Industries Ltd (GODREJIND).
Which listed company sells the most hotel stays in India?
Indian Hotels Co Ltd, with sales of hotel stays of ₹7,619 crore in FY25: 57.8% of the listed companies' total here.
How big is the listed market for hotel stays?
The listed companies here sold ₹13,184 crore of hotel stays in FY25. Private makers are not included.
Which listed company makes the most profit on hotel stays?
Oberoi Realty Ltd: its operating profit was 38.6% of its sales of hotel stays in FY25.
Who owns Gateway?
Gateway is a brand of Indian Hotels Co Ltd, listed on the NSE as INDHOTEL.
Who owns Gateway Hotels and Resorts?
Gateway Hotels and Resorts is a brand of Indian Hotels Co Ltd, listed on the NSE as INDHOTEL.
Who owns ITC Hotel?
ITC Hotel is a brand of ITC Hotels Ltd, listed on the NSE as ITCHOTELS.
Who owns Fortune?
Fortune is a brand of ITC Hotels Ltd, listed on the NSE as ITCHOTELS.
Who owns Golden Chariot?
Golden Chariot is a brand of Indian Railway Catering & Tourism Corporation Ltd, listed on the NSE as IRCTC.
Who owns The St. Regis?
The St. Regis is a brand of Phoenix Mills Ltd, listed on the NSE as PHOENIXLTD.
Who owns The St. Regis Mumbai?
The St. Regis Mumbai is a brand of Phoenix Mills Ltd, listed on the NSE as PHOENIXLTD.