ITC Hotels Sees 74% Profit Surge with New Premium Brand Launch
ITC Hotels reported a 74% rise in quarterly net profit, driven by higher revenues and eased operational expenses. Despite challenges like seasonal softness and monsoon impacts, the company launched a premium brand, Epiq Collection, to bolster its portfolio and aims to add 1,000 keys under this brand.
- Country:
- India
ITC Hotels announced a remarkable 74% increase in consolidated net profit for the second quarter ending September, achieving Rs 133.29 crore, up from Rs 76.63 crore last year. The growth is attributed to higher revenue and operational improvements following the company's recent stock market listing post-demerger from ITC Limited.
The company, optimistic about the hospitality sector's growth potential, highlighted robust domestic travel, evolving consumer preferences, and government initiatives as significant growth drivers. Despite seasonal challenges and monsoon impacts, ITC Hotels remains positive about the second half of FY25-26, expecting strong fundamentals and increased discretionary spending to sustain development.
Introducing its new premium brand, 'Epiq Collection - Member ITC Hotels' Group', ITC Hotels aims to accelerate premiumization by developing high-quality hotels. Initial projects in Puri and Tirupati aim to add 1,000 keys under the Epiq Collection, further solidifying ITC's commitment to expanding its hospitality offerings.
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