{"id":"1793026394803-money-segment","slug":"indian-hotels-hits-18th-record-quarter","title":"Indian Hotels hits 18th record quarter","summary":"Indian Hotels Company reported its 18th consecutive record quarter for Q2 FY27. Consolidated revenue was ₹2,566 crore, up 21% YoY; operating EBITDA was ₹788 crore, up 21%; PAT was ₹349 crore, up 23%. Same-store domestic RevPAR rose 25%. The company raised full-year consolidated revenue growth guidance to 15–17% and hotel segment growth to 17–19%. Shares rose 4–6% on Oct 22.\n\nDemand was broad-based, with management fee income up 25%, new hotel signings/openings continuing, renovated assets in Goa, Delhi, Bengaluru and Udaipur contributing, and recent acquisitions Brij and Atmantan adding revenue. The company cited a strong H1 and a seasonally strong second half, helped by social events and MICE demand.\n\nNomura did maintain Buy and raised its Indian Hotels target to ₹850 after Q2; consolidated revenue/EBITDA grew 22%/24% YoY and beat consensus, and management raised FY27 revenue growth guidance to 15–17%, with hotel revenue seen up 17–19%.","publishedAt":"2026-10-26T14:53:14.803Z","channel":{"id":"money","name":"Oncast Money","language":"en"},"show":"Market Open","verification":{"status":"verified","leadVerdict":"TRUE","notes":"TRUE: Nomura did maintain Buy and raised its Indian Hotels target to ₹850 after Q2; consolidated revenue/EBITDA grew 22%/24% YoY and beat consensus, and management raised FY27 revenue growth guidance to 15–17%, with hotel revenue seen up 17–19%.\nSource: [moneycontrol.com](https://www.moneycontrol.com/news/business/stocks/nomura-raises-indian-hotels-target-price-to-rs-850-maintains-buy-after-robust-q2-14057528.h (https://x.com/Nupurkunia/status/2113103724541518143)","claims":[{"verdict":"TRUE","summary":"Nomura did maintain Buy and raised its Indian Hotels target to ₹850 after Q2; consolidated revenue/EBITDA grew 22%/24% YoY and beat consensus, and management raised FY27 revenue growth guidance to 15–17%, with hotel revenue seen up 17–19%.","sourceName":"[moneycontrol.com](https://www.moneycontrol.com/news/business/stocks/nomura-raises-indian-hotels-target-price-to-rs-850-maintains-buy-after-robust-q2-14057528.h","sourceUrl":"https://x.com/Nupurkunia/status/2113103724541518143","claim":"Nomura on Indian Hotels Buy | Target: ₹850 Q2 revenue/EBITDA +22%/+24% YoY, beating estimates. FY27 revenue growth guidance raised to 15–17%; hotel revenue growth at 17–19%. Expects mid-to-high-teens EBITDA growth in H2FY27 and FY28. CLSA on M&M Finance Outperform | Target:","author":"Nupur Jainkunia (@Nupurkunia)"}]},"sources":[{"url":"https://x.com/Nupurkunia/status/2113103724541518143","name":"[moneycontrol.com](https://www.moneycontrol.com/news/business/stocks/nomura-raises-indian-hotels-target-price-to-rs-850-maintains-buy-after-robust-q2-14057528.h","kind":"x","verdict":"TRUE","author":"Nupur Jainkunia (@Nupurkunia)"}],"url":"https://oncast.fm/story/1793026394803-money-segment-indian-hotels-hits-18th-record-quarter","listenUrl":"https://oncast.fm/c/money","attribution":{"publisher":"Oncast","site":"https://oncast.fm","url":"https://oncast.fm/story/1793026394803-money-segment-indian-hotels-hits-18th-record-quarter","cite":"Cite https://oncast.fm/story/1793026394803-money-segment-indian-hotels-hits-18th-record-quarter and the original source links. Fact-check by Oncast (oncast.fm)."},"hostsSaid":[{"host":"Adam","text":"Eighteen straight record quarters. The Indian Hotels Company just did it again, and Nomura just raised its target to eight-fifty rupees."},{"host":"Bill","text":"Eighteen? That's a run. And the Street is scrambling to catch up—Nomura kept a buy and raised that target after the numbers."},{"host":"Adam","text":"Nothing says confidence like every analyst already having a buy before this print. Macquarie, Goldman, HSBC—they were all above eight-fifty already."},{"host":"Bill","text":"So? The numbers back it. Revenue up twenty-one percent, operating profit up twenty-one, profit after tax up twenty-three. That's not luck."},{"host":"Adam","text":"I'm not arguing the quarter. It's strong. I'm asking if you want to pay near a thousand rupees for a hotel stock when the easy travel boom is already in the price."},{"host":"Bill","text":"It's not a boom, it's a structural shift. Indians are traveling more, weddings are bigger, business events are back. Same-store revenue per available room jumped twenty-five percent. That's not a blip."},{"host":"Adam","text":"And management fee income up twenty-five percent. I see it. But look at the targets: Nomura at eight-fifty, ICICI just went to nine-sixty-nine. That's a wide spread for a stock that just popped six percent."},{"host":"Bill","text":"Wide spread means analysts are finally admitting they were too low, not that the stock is too high. Eighteen quarters, Adam. At some point the pattern is the story."},{"host":"Adam","text":"I'll give you the guidance raise is real, and the second half is seasonally strong. Weddings, social events, business travel—it's all coming."},{"host":"Bill","text":"And they've renovated Goa, Delhi, Bengaluru, Udaipur. Bought Brij and Atmantan. They're not just riding a wave, they're adding rooms."},{"host":"Adam","text":"Right, because the last thing you want in a hotel upcycle is more rooms. But the stock's up six percent today. I'd want to see margins hold before paying the highest target on the Street."},{"host":"Bill","text":"You'd wait forever. The company just raised full-year guidance to fifteen to seventeen percent—hotel growth even higher."},{"host":"Adam","text":"Fine, it's a great quarter. I just think the easy money's been made. The next eighteen quarters won't look like the last eighteen."},{"host":"Bill","text":"Speaking of easy money, here's the flip side. A market watcher on X is posting premarket numbers, and they're rough across the board."},{"host":"Adam","text":"How rough?"},{"host":"Bill","text":"The account says Nasdaq futures down one point six percent, S and P down almost a percent, Dow down half. Oil up, bitcoin down, and Tesla down five after a heavy night of tech earnings."},{"host":"Adam","text":"And the reason given? Doubts about the payoff from AI spending are back. That's the exact phrase."},{"host":"Bill","text":"And that's the fight worth having. The market's been rewarding AI spending for two years without asking when the revenue shows up. Now it's asking."},{"host":"Adam","text":"I think it's fair to ask. Every hyperscaler is spending tens of billions on chips, and the actual products are still early. If the payoff is further out, the stocks should pause."},{"host":"Bill","text":"But here's what drives me crazy: the same people who screamed bubble at the start now want to punish every earnings miss. The spending is for infrastructure that lasts a decade. You don't judge a data center by one quarter of cloud growth."},{"host":"Adam","text":"You do if you're paying thirty times forward earnings. That's the trade-off. AI is real, but the market priced in perfection."},{"host":"Bill","text":"Maybe, but a five percent drop in Tesla on AI doubts is exactly the kind of overreaction that makes no sense. Tesla's not just an AI bet—it's cars and energy."},{"host":"Adam","text":"Come on, Tesla down because tech earnings were bad? That's the market being lazy, not thoughtful."},{"host":"Bill","text":"Lazy, maybe, but futures don't lie. If the cash open follows, it's a risk-off day."},{"host":"Adam","text":"And bitcoin down two point six fits that. When people get scared of AI spending, they sell the speculative stuff too."},{"host":"Bill","text":"Right, but oil up one point six is the real tell. Money's rotating to safety, not leaving the building."},{"host":"Adam","text":"It's rotating out of anything with a long-duration story. That's why the Nasdaq is leading the futures lower, not the Dow."},{"host":"Bill","text":"And that's exactly why some traders see it as an opportunity for anyone with a view longer than lunch."},{"host":"Adam","text":"Or a warning that the market finally wants proof. Either way, we'll know by the close."},{"host":"Bill","text":"And that's the open in about nine minutes. Keep an eye on the AI names."}]}