EIH (EIHOTEL) Q3 24/25 earnings summary

Executive summary

• Achieved record Q3 performance with highest ever standalone and consolidated revenue, EBITDA, and PAT, reflecting robust operational execution and demand across premium segment hotels, with Oberoi outperforming Trident and industry benchmarks.

• Maintained premium positioning, supported by high occupancy rates, robust ARR growth, and multiple international awards, including 'Best Hotel in the World' for The Oberoi Rajvilas, Jaipur.

• Expansion plans include 19 new properties (1,164 keys) across domestic and international markets, with a mix of owned and managed hotels and openings planned through 2029.

• Unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2024 were approved by the Board on 11th February 2025.

• Both standalone and consolidated results were reviewed by Deloitte Haskins & Sells LLP, with no material misstatements identified.

Financial highlights

• Q3 standalone revenue grew by 6% to ₹695.4 crore; consolidated revenue up 8% to ₹800.2 crore, with like-for-like revenue growth at 11% excluding a closed hotel for renovation.

• Standalone EBITDA increased by 7% to ₹329.5 crore; consolidated EBITDA up 10% to ₹387.8 crore.

• Standalone PAT grew 18% to ₹219.7 crore; consolidated PAT rose 21% to ₹278.8 crore.

• Q3 marked the highest ever performance in revenue, EBITDA, and PAT, supported by high occupancy and ARR.

• Basic and diluted EPS (consolidated) for Q3 FY25 was ₹4.23, up from ₹3.51 in Q3 FY24.

Outlook and guidance

• Management remains confident in sustaining and enhancing ADRs, citing high demand and underpricing relative to global peers, with growth in rates expected to be a key driver until new properties come online.

• Sector outlook remains positive, driven by domestic tourism, MICE, weddings, and luxury wellness segments.

• Pipeline of 19 new hotels supports growth, but no formal revenue guidance provided for the next three to five years.

• The company continues to exercise control over Mashobra Resort Limited (MRL) until 31st March 2025, as per Supreme Court order.

• The Oberoi Grand, Kolkata, is temporarily closed for renovation from 15th August 2024, with banquets operational until 15th February 2025.