20-quarter listed-company comparison

Hotels Stocks in India

Hotels: Indian Hotels Co Ltd owns the largest revenue base; Asian Hotels (North) Ltd has the fastest current growth.

Nifty Hotels Index — Constituents & Performance

The Hotels companies below are the listed Indian Hotels universe this page tracks — the same constituent set people search for as the Nifty Hotels index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has Hotels moved against NIFTY 500?

The line below covers 5.1 years. Over the most recent two of them this sector is 2% ahead of NIFTY 500. Earnings across its companies grew 22% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 8 weeks running.

BREAKING OUT · ahead 8w~Moving with the index6 of 18 companies ahead of NIFTY 500 by 5% or more over three months3 are 20% or more behind over a year while earnings grew 20% or more

RS ↑8w · 7/18 >200d (+2) · 6/18 lead (+0) · EPS 10/16↑

Hotels, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy MixedHow much of the sector is participating, how recently, and whether the movers score well.

Together6 of 18 stocks moving

Fresh2 crossed in the last 4 weeks

Backed by scoresmovers score +4 vs the sector average

Down the cap ladder — bar is now, tick is four weeks ago

Large 1/4−1

Mid 2/60

Small 3/8+1

Participation is spreading downward — the mid and small companies added more this month than the large ones did.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 18 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Hotels outperforming NIFTY 500?

The 52-week comparison of Hotels against NIFTY 500 is not available from the current market series. 6 of 23 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Leela Palaces Hotels & Resorts Ltd is the strongest against the sector itself at +15%. Readings are as of 2026-07-19.

—Sector vs NIFTY 500 · 13 weeks

—Sector vs NIFTY 500 · 52 weeks

6/23Stocks leading NIFTY 500

10/23Stocks leading sector

Sector metric: 10.0 as of 2026-07-19 · CONSOLIDATION · falling.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 6 of 23 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Indian Hotels Co Ltd leads with revenue of ₹9,987 crore, based on 24 of 24 comparable companies through Jun 2026. Asian Hotels (North) Ltd has the fastest current revenue growth at 81.1%, across 23 of 24 comparable companies.

Is the Hotels sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 6 of 23 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which Hotels company is largest by revenue?

Indian Hotels Co Ltd leads with revenue of ₹9,987 crore, based on 24 of 24 comparable companies through Jun 2026.

Which Hotels company is growing fastest?

Asian Hotels (North) Ltd has the fastest current revenue growth at 81.1%, across 23 of 24 comparable companies.

Which Hotels company has the strongest 4-Factor Sector Score?

Chalet Hotels Ltd ranks first at 74.3/100 with 89.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Hotels company reports the most CAPEX?

ITC Hotels Ltd reports the largest latest CAPEX at ₹1,009 crore, with 8 of 24 companies comparable.

Which Hotels company has the least gross debt?

U P Hotels Ltd has the lowest comparable gross debt at ₹0 crore. Indian Hotels Co Ltd has the highest at ₹2,837 crore.

Which Hotels company has the lowest comparable PEG?

Oriental Hotels Ltd has the lowest comparable Guarded PEG at 0.66, among 7 of 24 companies that pass the metric’s comparability rules.

How much history does this Hotels comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

₹2.6 L Cr

Indian Hotels Co Ltd

Revenue growing

20/23

positive TTM year-on-year growth

Beating NIFTY 500

6/23

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Chalet Hotels Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 89.6% evidence confidence.

Oriental Hotels Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. Chalet Hotels Ltd · CHALET

74.3/100 · Favorable setup · 90% evidence

Exact sum: 28.4 + 15.6 + 17.7 + 12.6 = 74.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

28.4/35Growth & earnings

Revenue 61.2% · PAT 100% · OPM change 2 pp

88% evidence

15.6/25Capital efficiency

ROCE 17.1% · debt/equity 0.64×

100% evidence

17.7/20Valuation

P/E 27.6× · PEG 0.83

100% evidence

12.6/20Relative strength

RS sector 3.6% · RS bench -1.1% · 1Y -7.3%

70% evidence

2. Travel Food Services Ltd · TRAVELFOOD

64.6/100 · Mixed-positive evidence · 66% evidence

Exact sum: 20.2 + 20.3 + 9.2 + 14.9 = 64.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.2/35Growth & earnings

Revenue -2.4% · PAT 19.2% · OPM change 3 pp

83% evidence

20.3/25Capital efficiency

ROCE 42.4% · debt/equity 0.17×

80% evidence

9.2/20Valuation

P/E 38.4× · PEG —

15% evidence

14.9/20Relative strength

RS sector 6.8% · RS bench 3.3% · 1Y 13.4%

70% evidence

3. Oriental Hotels Ltd · ORIENTHOT

63.5/100 · Mixed-positive evidence · 93% evidence

Exact sum: 17.4 + 12.2 + 14.5 + 19.4 = 63.5

Decision use: Price leads the evidence: RS versus the benchmark is 8.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

17.4/35Growth & earnings

Revenue 6.9% · PAT 41.1% · OPM change -2.8 pp

100% evidence

12.2/25Capital efficiency

ROCE 12.1% · debt/equity 0.17×

100% evidence

14.5/20Valuation

P/E 35.9× · PEG 0.66

65% evidence

19.4/20Relative strength

RS sector 13.4% · RS bench 8.7% · 1Y -19.4%

100% evidence

4. Leela Palaces Hotels & Resorts Ltd · THELEELA

63.3/100 · Mixed-positive evidence · 83% evidence

Exact sum: 25.6 + 13 + 7.9 + 16.8 = 63.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

25.6/35Growth & earnings

Revenue 17.5% · PAT 100% · OPM change 2 pp

88% evidence

13.0/25Capital efficiency

ROCE 8.7% · debt/equity 0.28×

100% evidence

7.9/20Valuation

P/E 38.8× · PEG 1.65

65% evidence

16.8/20Relative strength

RS sector 15% · RS bench 11.4% · 1Y 5.3%

70% evidence

5. Indian Hotels Co Ltd · INDHOTEL

62.2/100 · Mixed-positive evidence · 83% evidence

Exact sum: 19.2 + 16.6 + 9.7 + 16.7 = 62.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.2/35Growth & earnings

Revenue 13.2% · PAT 9.5% · OPM change 1 pp

95% evidence

16.6/25Capital efficiency

ROCE 17.1% · debt/equity 0.22×

80% evidence

9.7/20Valuation

P/E 53.3× · PEG —

50% evidence

16.7/20Relative strength

RS sector 6.6% · RS bench 2.7% · 1Y -5%

100% evidence

6. Benares Hotels Ltd · BENARAS

58.6/100 · Thin evidence · provisional · 58% evidence

Exact sum: 16.4 + 19 + 8.6 + 14.6 = 58.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.4/35Growth & earnings

Revenue 14.8% · PAT 12.8% · OPM change -1 pp

53% evidence

19.0/25Capital efficiency

ROCE 37.3% · debt/equity 0.02×

60% evidence

8.6/20Valuation

P/E 28.1× · PEG —

50% evidence

14.6/20Relative strength

RS sector 12.1% · RS bench -0.8% · 1Y -4.1%

70% evidence

7. Asian Hotels (West) Ltd · AHLWEST

56.9/100 · Mixed-positive evidence · 62% evidence

Exact sum: 22.1 + 15.1 + 11.4 + 8.3 = 56.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.1/35Growth & earnings

Revenue 6.1% · PAT 62.5% · OPM change 5 pp

62% evidence

15.1/25Capital efficiency

ROCE 19.7% · debt/equity 24.61×

95% evidence

11.4/20Valuation

P/E 8.2× · PEG —

15% evidence

8.3/20Relative strength

RS sector -25% · RS bench 59.6% · 1Y —

70% evidence

8. ITC Hotels Ltd · ITCHOTELS

55.6/100 · Mixed-positive evidence · 93% evidence

Exact sum: 23.1 + 13.2 + 11.6 + 7.7 = 55.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

23.1/35Growth & earnings

Revenue 16.1% · PAT 26.9% · OPM change 1 pp

100% evidence

13.2/25Capital efficiency

ROCE 11.2% · debt/equity 0.01×

100% evidence

11.6/20Valuation

P/E 36.2× · PEG 1.15

65% evidence

7.7/20Relative strength

RS sector -6.8% · RS bench -10.7% · 1Y -32.3%

100% evidence

9. TajGVK Hotels & Resorts Ltd · TAJGVK

55.3/100 · Mixed-positive evidence · 83% evidence

Exact sum: 21.6 + 14.7 + 11 + 8 = 55.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.6/35Growth & earnings

Revenue 12.9% · PAT 100% · OPM change 3 pp

88% evidence

14.7/25Capital efficiency

ROCE 13.2% · debt/equity 0.13×

100% evidence

11.0/20Valuation

P/E 14.6× · PEG 1.47

65% evidence

8.0/20Relative strength

RS sector -3.6% · RS bench -4.5% · 1Y -17.2%

70% evidence

10. EIH Ltd · EIHOTEL

52.7/100 · Mixed-positive evidence · 73% evidence

Exact sum: 11.2 + 19.4 + 12.6 + 9.5 = 52.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

11.2/35Growth & earnings

Revenue 7.2% · PAT -14.7% · OPM change -5 pp

83% evidence

19.4/25Capital efficiency

ROCE 20.7% · debt/equity 0.05×

80% evidence

12.6/20Valuation

P/E 28.6× · PEG —

50% evidence

9.5/20Relative strength

RS sector -1.2% · RS bench -3.9% · 1Y -11%

70% evidence

11. U P Hotels Ltd · UPHOT

50.1/100 · Thin evidence · provisional · 58% evidence

Exact sum: 11.6 + 18 + 10.8 + 9.7 = 50.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

11.6/35Growth & earnings

Revenue 6% · PAT 0% · OPM change -5 pp

53% evidence

18.0/25Capital efficiency

ROCE 23.6% · debt/equity 0×

60% evidence

10.8/20Valuation

P/E 25.8× · PEG —

50% evidence

9.7/20Relative strength

RS sector 1.2% · RS bench -10.6% · 1Y -24.3%

70% evidence

12. Ventive Hospitality Ltd · VENTIVE

49.6/100 · Mixed-negative evidence · 72% evidence

Exact sum: 22.2 + 12.9 + 9.7 + 4.8 = 49.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.2/35Growth & earnings

Revenue 53.3% · PAT 100% · OPM change -1 pp

83% evidence

12.9/25Capital efficiency

ROCE 10.8% · debt/equity 0.47×

80% evidence

9.7/20Valuation

P/E 33.5× · PEG —

15% evidence

4.8/20Relative strength

RS sector -7.9% · RS bench -11.2% · 1Y -24.6%

100% evidence

13. EIH Associated Hotels Ltd · EIHAHOTELS

48.4/100 · Mixed-negative evidence · 77% evidence

Exact sum: 8.7 + 18.8 + 12.7 + 8.2 = 48.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

8.7/35Growth & earnings

Revenue -6.1% · PAT -4.3% · OPM change -4 pp

83% evidence

18.8/25Capital efficiency

ROCE 21.2% · debt/equity 0.01×

95% evidence

12.7/20Valuation

P/E 21× · PEG —

50% evidence

8.2/20Relative strength

RS sector -1.9% · RS bench -8.5% · 1Y -19.7%

70% evidence

14. Juniper Hotels Ltd · JUNIPER

47.9/100 · Mixed-negative evidence · 89% evidence

Exact sum: 23 + 11.2 + 11.8 + 1.9 = 47.9

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -15.9% and the one-year return is -39.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

23.0/35Growth & earnings

Revenue 10.8% · PAT 98.6% · OPM change 2 pp

88% evidence

11.2/25Capital efficiency

ROCE 8.1% · debt/equity 0.42×

100% evidence

11.8/20Valuation

P/E 24.8× · PEG 1.29

65% evidence

1.9/20Relative strength

RS sector -15.9% · RS bench -19.4% · 1Y -39.3%

100% evidence

15. Lemon Tree Hotels Ltd · LEMONTREE

46.9/100 · Mixed-negative evidence · 66% evidence

Exact sum: 19 + 13.4 + 9.6 + 4.9 = 46.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.0/35Growth & earnings

Revenue 12.3% · PAT 18.5% · OPM change -2 pp

83% evidence

13.4/25Capital efficiency

ROCE 14% · debt/equity 1.44×

80% evidence

9.6/20Valuation

P/E 34.9× · PEG —

15% evidence

4.9/20Relative strength

RS sector -8.5% · RS bench -19.4% · 1Y -27.6%

70% evidence

16. Sayaji Hotels Ltd · SAYAJIHOTL

46.6/100 · Mixed-negative evidence · 65% evidence

Exact sum: 15.9 + 5.1 + 10 + 15.6 = 46.6

Decision use: Price leads the evidence: RS versus the benchmark is 3.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

15.9/35Growth & earnings

Revenue 7.6% · PAT -80% · OPM change 12 pp

62% evidence

5.1/25Capital efficiency

ROCE 0% · debt/equity 0.81×

95% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

15.6/20Relative strength

RS sector 9.1% · RS bench 3.3% · 1Y -1.4%

100% evidence

17. Asian Hotels (North) Ltd · ASIANHOTNR

44.1/100 · Thin evidence · provisional · 53% evidence

Exact sum: 16.8 + 6.4 + 8.5 + 12.4 = 44.1

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.8/35Growth & earnings

Revenue 81.1% · PAT 100% · OPM change -9 pp

36% evidence

6.4/25Capital efficiency

ROCE 3.5% · debt/equity 0.36×

95% evidence

8.5/20Valuation

P/E 484× · PEG —

15% evidence

12.4/20Relative strength

RS sector 8.5% · RS bench -6.3% · 1Y -19.3%

70% evidence

18. Kamat Hotels (India) Ltd · KAMATHOTEL

42.0/100 · Mixed-negative evidence · 77% evidence

Exact sum: 13 + 14.6 + 10.7 + 3.7 = 42

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.0/35Growth & earnings

Revenue 8.4% · PAT -17.4% · OPM change 2 pp

83% evidence

14.6/25Capital efficiency

ROCE 15.8% · debt/equity 0.74×

95% evidence

10.7/20Valuation

P/E 11.7× · PEG —

50% evidence

3.7/20Relative strength

RS sector -20.6% · RS bench -21.6% · 1Y -25.9%

70% evidence

19. Samhi Hotels Ltd · SAMHI

41.4/100 · Mixed-negative evidence · 79% evidence

Exact sum: 16.2 + 8.9 + 11.2 + 5.1 = 41.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

16.2/35Growth & earnings

Revenue 11.1% · PAT 100% · OPM change -6 pp

88% evidence

8.9/25Capital efficiency

ROCE 8.9% · debt/equity 0.85×

100% evidence

11.2/20Valuation

P/E 9.6× · PEG —

15% evidence

5.1/20Relative strength

RS sector -5.4% · RS bench -9.3% · 1Y -32.8%

100% evidence

20. Royal Orchid Hotels Ltd · ROHLTD

34.7/100 · Adverse evidence · 77% evidence

Exact sum: 13.8 + 8.3 + 8.1 + 4.5 = 34.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.8/35Growth & earnings

Revenue 20.3% · PAT -29.8% · OPM change -0.4 pp

83% evidence

8.3/25Capital efficiency

ROCE 10.8% · debt/equity 2.48×

95% evidence

8.1/20Valuation

P/E 27.6× · PEG —

50% evidence

4.5/20Relative strength

RS sector -9.8% · RS bench -19.4% · 1Y -25%

70% evidence

21. Viceroy Hotels Ltd · VHLTD

34.5/100 · Adverse evidence · 79% evidence

Exact sum: 13.3 + 7.3 + 5.9 + 8 = 34.5

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.3/35Growth & earnings

Revenue 7% · PAT -55.6% · OPM change 2.7 pp

71% evidence

7.3/25Capital efficiency

ROCE 7.1% · debt/equity 0.99×

95% evidence

5.9/20Valuation

P/E 48.7× · PEG —

50% evidence

8.0/20Relative strength

RS sector 1% · RS bench -1.7% · 1Y 21.3%

100% evidence

22. Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

33.1/100 · Adverse evidence · 83% evidence

Exact sum: 11.3 + 11.9 + 3.9 + 6 = 33.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

11.3/35Growth & earnings

Revenue 11.7% · PAT -22.6% · OPM change -6 pp

88% evidence

11.9/25Capital efficiency

ROCE 9.4% · debt/equity 0.28×

100% evidence

3.9/20Valuation

P/E 39.1× · PEG 3.5

65% evidence

6.0/20Relative strength

RS sector -9.8% · RS bench -6% · 1Y -22.7%

70% evidence

23. Advent Hotels International Ltd · ADVENTHTL

44.5/100 · Thin evidence · provisional · 43% evidence

Exact sum: 16.2 + 7.5 + 10.8 + 10 = 44.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.2/35Growth & earnings

Revenue — · PAT — · OPM change -10.6 pp

45% evidence

7.5/25Capital efficiency

ROCE 6.8% · debt/equity 0.88×

95% evidence

10.8/20Valuation

P/E 15.8× · PEG —

15% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

24. HLV Ltd · HLVLTD

43.3/100 · Thin evidence · provisional · 38% evidence

Exact sum: 17.9 + 10.9 + 11.5 + 3 = 43.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.9/35Growth & earnings

Revenue -26.1% · PAT 100% · OPM change —

16% evidence

10.9/25Capital efficiency

ROCE 7.8% · debt/equity 0.07×

63% evidence

11.5/20Valuation

P/E 2.8× · PEG —

15% evidence

3.0/20Relative strength

RS sector -29.5% · RS bench -24.8% · 1Y -46.4%

70% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Indian Hotels Co Ltd has the highest Revenue among the 24 Hotels companies compared here, at ₹9,987 crore. ITC Hotels Ltd is next at ₹4,260 crore. Asian Hotels (North) Ltd has the highest Revenue growth at 81.1%, so level and change sit with different companies. 24 of 24 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Indian Hotels Co Ltd is the scale leader at ₹9,987 crore, 134.4% ahead of ITC Hotels Ltd. Asian Hotels (North) Ltd's growth is 81.1% from a ₹355 crore base, with 9 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderIndian Hotels Co Ltd · ₹9,987 crore

Gap134.4% versus #2 · ITC Hotels Ltd

Persistence8/8 recent comparable periods

Coverage24/24 companies · 308 observations

Investor read: Indian Hotels Co Ltd is the scale benchmark; Asian Hotels (North) Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Indian Hotels Co Ltd's growth falls below Asian Hotels (North) Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Indian Hotels Co Ltd INDHOTEL₹10.0K Cr

2ITC Hotels Ltd ITCHOTELS₹4.3K Cr

3EIH Ltd EIHOTEL₹2.9K Cr

4Chalet Hotels Ltd CHALET₹2.8K Cr

5Ventive Hospitality Ltd VENTIVE₹2.5K Cr

Revenue growthfastest growers

1Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified81%

2Chalet Hotels Ltd CHALET61%

3Ventive Hospitality Ltd VENTIVE53%

4Royal Orchid Hotels Ltd ROHLTD⚠ unverified20%

5Leela Palaces Hotels & Resorts Ltd THELEELA18%

Revenue · company comparison

24/24 level · 23/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Indian Hotels Co Ltd INDHOTEL	₹2.3K Cr	15%	Jun 2026
ITC Hotels Ltd ITCHOTELS	₹936 Cr	15%	Jun 2026
EIH Ltd EIHOTEL	₹895 Cr	8.2%	Mar 2026
Ventive Hospitality Ltd VENTIVE	₹779 Cr	12%	Mar 2026
Chalet Hotels Ltd CHALET	₹558 Cr	6.9%	Mar 2026
Leela Palaces Hotels & Resorts Ltd THELEELA	₹484 Cr	14%	Mar 2026
Travel Food Services Ltd TRAVELFOOD	₹461 Cr	26%	Mar 2026
Lemon Tree Hotels Ltd LEMONTREE	₹416 Cr	9.8%	Mar 2026
Samhi Hotels Ltd SAMHI	₹345 Cr	8.2%	Mar 2026
Juniper Hotels Ltd JUNIPER	₹301 Cr	8.3%	Mar 2026
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	₹184 Cr	4.0%	Mar 2026
TajGVK Hotels & Resorts Ltd TAJGVK	₹159 Cr	27%	Mar 2026
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	₹127 Cr	-9.3%	Mar 2026
Asian Hotels (West) Ltd AHLWEST⚠ unverified	₹122 Cr	6.1%	Mar 2026
Advent Hotels International Ltd ADVENTHTL⚠ unverified	₹115 Cr	6.8%	Mar 2026
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	₹113 Cr	30%	Mar 2026
Oriental Hotels Ltd ORIENTHOT	₹111 Cr	3.6%	Jun 2026
Kamat Hotels (India) Ltd KAMATHOTEL	₹110 Cr	20%	Mar 2026
Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified	₹103 Cr	12%	Mar 2026
U P Hotels Ltd UPHOT	₹57 Cr	3.6%	Dec 2025
Viceroy Hotels Ltd VHLTD⚠ unverified	₹48 Cr	37%	Mar 2026
Benares Hotels Ltd BENARAS	₹42 Cr	7.7%	Dec 2025
Sayaji Hotels Ltd SAYAJIHOTL	₹38 Cr	-5.0%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹113 Cr

Sep 2022₹113 Cr

Dec 2022₹140 Cr

Mar 2023₹144 Cr

Jun 2023₹131 Cr

Sep 2023₹135 Cr

Dec 2023₹159 Cr

Mar 2024₹152 Cr

Jun 2024₹135 Cr

Sep 2024₹142 Cr

Dec 2024₹177 Cr

Mar 2025₹177 Cr

Jun 2025₹154 Cr

Sep 2025₹167 Cr

Dec 2025₹200 Cr

Mar 2026₹184 Cr

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021₹133 Cr

Dec 2021₹164 Cr

Mar 2022₹154 Cr

Jun 2022₹253 Cr

Sep 2022₹219 Cr

Dec 2022₹290 Cr

Mar 2023₹338 Cr

Jun 2023₹311 Cr

Sep 2023₹315 Cr

Dec 2023₹374 Cr

Mar 2024₹418 Cr

Jun 2024₹361 Cr

Sep 2024₹377 Cr

Dec 2024₹458 Cr

Mar 2025₹522 Cr

Jun 2025₹895 Cr

Sep 2025₹735 Cr

Dec 2025₹582 Cr

Mar 2026₹558 Cr

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹586 Cr

Mar 2023₹637 Cr

Jun 2023₹498 Cr

Sep 2023₹531 Cr

Dec 2023₹741 Cr

Mar 2024₹741 Cr

Jun 2024₹527 Cr

Sep 2024₹589 Cr

Dec 2024₹800 Cr

Mar 2025₹827 Cr

Jun 2025₹574 Cr

Sep 2025₹598 Cr

Dec 2025₹873 Cr

Mar 2026₹895 Cr

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹1.7K Cr

Mar 2023₹1.6K Cr

Jun 2023₹1.5K Cr

Sep 2023₹1.4K Cr

Dec 2023₹2.0K Cr

Mar 2024₹1.9K Cr

Jun 2024₹1.6K Cr

Sep 2024₹1.8K Cr

Dec 2024₹2.5K Cr

Mar 2025₹2.4K Cr

Jun 2025₹2.0K Cr

Sep 2025₹2.0K Cr

Dec 2025₹2.8K Cr

Mar 2026₹2.8K Cr

Jun 2026₹2.3K Cr

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹3.3K Cr

Jun 2024₹706 Cr

Sep 2024₹778 Cr

Dec 2024₹1.0K Cr

Mar 2025₹1.1K Cr

Jun 2025₹816 Cr

Sep 2025₹839 Cr

Dec 2025₹1.2K Cr

Mar 2026₹1.3K Cr

Jun 2026₹936 Cr

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹147 Cr

Sep 2022₹147 Cr

Dec 2022₹179 Cr

Mar 2023₹194 Cr

Jun 2023₹168 Cr

Sep 2023₹168 Cr

Dec 2023₹236 Cr

Mar 2024₹245 Cr

Jun 2024₹200 Cr

Sep 2024₹215 Cr

Dec 2024₹252 Cr

Mar 2025₹278 Cr

Jun 2025₹221 Cr

Sep 2025₹230 Cr

Dec 2025₹295 Cr

Mar 2026₹301 Cr

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹228 Cr

Sep 2024₹277 Cr

Dec 2024₹370 Cr

Mar 2025₹425 Cr

Jun 2025₹275 Cr

Sep 2025₹311 Cr

Dec 2025₹457 Cr

Mar 2026₹484 Cr

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹234 Cr

Mar 2023₹253 Cr

Jun 2023₹224 Cr

Sep 2023₹227 Cr

Dec 2023₹290 Cr

Mar 2024₹327 Cr

Jun 2024₹268 Cr

Sep 2024₹284 Cr

Dec 2024₹355 Cr

Mar 2025₹379 Cr

Jun 2025₹316 Cr

Sep 2025₹306 Cr

Dec 2025₹406 Cr

Mar 2026₹416 Cr

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021₹52 Cr

Dec 2021₹76 Cr

Mar 2022₹70 Cr

Jun 2022₹91 Cr

Sep 2022₹91 Cr

Dec 2022₹106 Cr

Mar 2023₹111 Cr

Jun 2023₹93 Cr

Sep 2023₹91 Cr

Dec 2023₹102 Cr

Mar 2024₹107 Cr

Jun 2024₹82 Cr

Sep 2024₹103 Cr

Dec 2024₹122 Cr

Mar 2025₹133 Cr

Jun 2025₹108 Cr

Sep 2025₹110 Cr

Dec 2025₹139 Cr

Mar 2026₹136 Cr

Jun 2026₹111 Cr

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹169 Cr

Sep 2022₹174 Cr

Dec 2022₹191 Cr

Mar 2023₹205 Cr

Jun 2023₹190 Cr

Sep 2023₹220 Cr

Dec 2023₹268 Cr

Mar 2024₹279 Cr

Jun 2024₹250 Cr

Sep 2024₹262 Cr

Dec 2024₹292 Cr

Mar 2025₹319 Cr

Jun 2025₹272 Cr

Sep 2025₹293 Cr

Dec 2025₹338 Cr

Mar 2026₹345 Cr

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹410 Cr

Sep 2024₹500 Cr

Dec 2024₹411 Cr

Mar 2025₹367 Cr

Jun 2025₹375 Cr

Sep 2025₹356 Cr

Dec 2025₹456 Cr

Mar 2026₹461 Cr

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023₹126 Cr

Mar 2024₹124 Cr

Jun 2024₹115 Cr

Sep 2024₹258 Cr

Dec 2024₹534 Cr

Mar 2025₹698 Cr

Jun 2025₹507 Cr

Sep 2025₹489 Cr

Dec 2025₹686 Cr

Mar 2026₹779 Cr

Jun 2026—

Revenue growth · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202316%

Sep 202319%

Dec 202314%

Mar 20245.6%

Jun 20243.1%

Sep 20245.2%

Dec 202411%

Mar 202516%

Jun 202514%

Sep 202518%

Dec 202513%

Mar 20264.0%

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022261%

Sep 202265%

Dec 202277%

Mar 2023119%

Jun 202323%

Sep 202344%

Dec 202329%

Mar 202424%

Jun 202416%

Sep 202420%

Dec 202422%

Mar 202525%

Jun 2025148%

Sep 202595%

Dec 202527%

Mar 20266.9%

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202326%

Mar 202416%

Jun 20245.8%

Sep 202411%

Dec 20248.0%

Mar 202512%

Jun 20258.9%

Sep 20251.5%

Dec 20259.1%

Mar 20268.2%

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202316%

Mar 202417%

Jun 20245.7%

Sep 202427%

Dec 202429%

Mar 202527%

Jun 202532%

Sep 202512%

Dec 202512%

Mar 202614%

Jun 202615%

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025-68%

Jun 202516%

Sep 20257.8%

Dec 202521%

Mar 202618%

Jun 202615%

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202314%

Sep 202314%

Dec 202332%

Mar 202426%

Jun 202419%

Sep 202428%

Dec 20246.8%

Mar 202513%

Jun 202511%

Sep 20257.0%

Dec 202517%

Mar 20268.3%

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202521%

Sep 202512%

Dec 202524%

Mar 202614%

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202324%

Mar 202429%

Jun 202420%

Sep 202425%

Dec 202422%

Mar 202516%

Jun 202518%

Sep 20257.8%

Dec 202514%

Mar 20269.8%

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202275%

Dec 202239%

Mar 202359%

Jun 20231.8%

Sep 20230.0%

Dec 2023-3.7%

Mar 2024-3.2%

Jun 2024-11%

Sep 202413%

Dec 202419%

Mar 202523%

Jun 202531%

Sep 20257.0%

Dec 202514%

Mar 20263.0%

Jun 20263.6%

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202312%

Sep 202326%

Dec 202340%

Mar 202436%

Jun 202432%

Sep 202419%

Dec 20249.0%

Mar 202514%

Jun 20258.8%

Sep 202512%

Dec 202516%

Mar 20268.2%

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025-8.5%

Sep 2025-29%

Dec 202511%

Mar 202626%

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024324%

Mar 2025463%

Jun 2025341%

Sep 202590%

Dec 202528%

Mar 202612%

Jun 2026—

02 · compare level, then change

Operating Economics & Margin Trend

Leela Palaces Hotels & Resorts Ltd has the highest OPM among the 24 Hotels companies compared here, at 55%. Lemon Tree Hotels Ltd is next at 52%. Sayaji Hotels Ltd has the highest Margin change at +12 percentage points, so level and change sit with different companies. 24 of 24 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Leela Palaces Hotels & Resorts Ltd leads opm at 55%; Sayaji Hotels Ltd leads margin change at +12 percentage points.

LeaderLeela Palaces Hotels & Resorts Ltd · 55%

Gap5.8% versus #2 · Lemon Tree Hotels Ltd

Persistence4/4 recent comparable periods

Coverage24/24 companies · 357 observations

Investor read: Leela Palaces Hotels & Resorts Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Leela Palaces Hotels & Resorts Ltd THELEELA55%

2Lemon Tree Hotels Ltd LEMONTREE52%

3Ventive Hospitality Ltd VENTIVE49%

4Chalet Hotels Ltd CHALET48%

5Benares Hotels Ltd BENARAS · older report47%

Margin changefastest expanders

1Sayaji Hotels Ltd SAYAJIHOTL+12.0 pp

2Asian Hotels (West) Ltd AHLWEST⚠ unverified+5.0 pp

3TajGVK Hotels & Resorts Ltd TAJGVK+3.0 pp

4Travel Food Services Ltd TRAVELFOOD+3.0 pp

5Viceroy Hotels Ltd VHLTD⚠ unverified+2.7 pp

Operating margin · company comparison

24/24 level · 23/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
Leela Palaces Hotels & Resorts Ltd THELEELA	55%	+2.0 pp	Mar 2026
Lemon Tree Hotels Ltd LEMONTREE	52%	−2.0 pp	Mar 2026
Ventive Hospitality Ltd VENTIVE	49%	−1.0 pp	Mar 2026
Chalet Hotels Ltd CHALET	48%	+2.0 pp	Mar 2026
Benares Hotels Ltd BENARAS	47%	−1.0 pp	Dec 2025
Asian Hotels (West) Ltd AHLWEST⚠ unverified	45%	+5.0 pp	Mar 2026
Juniper Hotels Ltd JUNIPER	44%	+2.0 pp	Mar 2026
Travel Food Services Ltd TRAVELFOOD	40%	+3.0 pp	Mar 2026
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	39%	−4.0 pp	Mar 2026
U P Hotels Ltd UPHOT	38%	−5.0 pp	Dec 2025
Advent Hotels International Ltd ADVENTHTL⚠ unverified	38%	−10.6 pp	Mar 2026
EIH Ltd EIHOTEL	37%	−5.0 pp	Mar 2026
Samhi Hotels Ltd SAMHI	32%	−6.0 pp	Mar 2026
ITC Hotels Ltd ITCHOTELS	31%	+1.0 pp	Jun 2026
TajGVK Hotels & Resorts Ltd TAJGVK	30%	+3.0 pp	Mar 2026
Viceroy Hotels Ltd VHLTD⚠ unverified	30%	+2.7 pp	Mar 2026
Indian Hotels Co Ltd INDHOTEL	29%	+1.0 pp	Jun 2026
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	29%	−6.0 pp	Mar 2026
Kamat Hotels (India) Ltd KAMATHOTEL	29%	+2.0 pp	Mar 2026
Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified	23%	−9.0 pp	Mar 2026
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	23%	−0.4 pp	Mar 2026
Oriental Hotels Ltd ORIENTHOT	21%	−2.8 pp	Jun 2026
Sayaji Hotels Ltd SAYAJIHOTL	19%	+12.0 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202221%

Sep 202230%

Dec 202236%

Mar 202331%

Jun 202330%

Sep 202333%

Dec 202335%

Mar 202433%

Jun 202429%

Sep 202430%

Dec 202436%

Mar 202535%

Jun 202529%

Sep 202529%

Dec 202535%

Mar 202629%

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 202128%

Dec 202125%

Mar 202221%

Jun 202240%

Sep 202234%

Dec 202239%

Mar 202345%

Jun 202335%

Sep 202340%

Dec 202344%

Mar 202444%

Jun 202439%

Sep 202440%

Dec 202445%

Mar 202546%

Jun 202540%

Sep 202541%

Dec 202546%

Mar 202648%

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021-8.4%

Dec 202123%

Mar 20223.9%

Jun 202225%

Sep 202221%

Dec 202236%

Mar 202332%

Jun 202331%

Sep 202327%

Dec 202344%

Mar 202441%

Jun 202426%

Sep 202430%

Dec 202445%

Mar 202542%

Jun 202528%

Sep 202526%

Dec 202543%

Mar 202637%

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 202110%

Dec 202129%

Mar 202218%

Jun 202230%

Sep 202224%

Dec 202235%

Mar 202333%

Jun 202328%

Sep 202325%

Dec 202337%

Mar 202435%

Jun 202429%

Sep 202427%

Dec 202438%

Mar 202535%

Jun 202528%

Sep 202528%

Dec 202538%

Mar 202635%

Jun 202629%

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202425%

Jun 202429%

Sep 202427%

Dec 202437%

Mar 202539%

Jun 202530%

Sep 202529%

Dec 202538%

Mar 202637%

Jun 202631%

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202228%

Sep 202239%

Dec 202240%

Mar 202345%

Jun 202338%

Sep 202336%

Dec 202341%

Mar 202437%

Jun 202431%

Sep 202430%

Dec 202437%

Mar 202542%

Jun 202536%

Sep 202536%

Dec 202543%

Mar 202644%

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202429%

Sep 202441%

Dec 202450%

Mar 202553%

Jun 202537%

Sep 202544%

Dec 202551%

Mar 202655%

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 202135%

Dec 202144%

Mar 202218%

Jun 202246%

Sep 202248%

Dec 202254%

Mar 202355%

Jun 202347%

Sep 202345%

Dec 202349%

Mar 202452%

Jun 202443%

Sep 202446%

Dec 202452%

Mar 202554%

Jun 202544%

Sep 202543%

Dec 202550%

Mar 202652%

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 20218.8%

Dec 202126%

Mar 202218%

Jun 202228%

Sep 202226%

Dec 202231%

Mar 202329%

Jun 202324%

Sep 202322%

Dec 202328%

Mar 202425%

Jun 202414%

Sep 202424%

Dec 202428%

Mar 202529%

Jun 202524%

Sep 202524%

Dec 202530%

Mar 202628%

Jun 202621%

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202231%

Sep 202230%

Dec 202233%

Mar 202334%

Jun 202324%

Sep 202323%

Dec 202332%

Mar 202431%

Jun 202433%

Sep 202435%

Dec 202437%

Mar 202538%

Jun 202533%

Sep 202537%

Dec 202536%

Mar 202632%

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 202425%

Sep 202432%

Dec 202438%

Mar 202537%

Jun 202539%

Sep 202538%

Dec 202540%

Mar 202640%

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202359%

Mar 202461%

Jun 202459%

Sep 202434%

Dec 202445%

Mar 202550%

Jun 202541%

Sep 202539%

Dec 202545%

Mar 202649%

Jun 2026—

Margin change · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023+9.3 pp

Sep 2023+3.0 pp

Dec 2023−1.0 pp

Mar 2024+2.0 pp

Jun 2024−1.0 pp

Sep 2024−3.0 pp

Dec 2024+1.0 pp

Mar 2025+2.0 pp

Jun 20250.0 pp

Sep 2025−1.0 pp

Dec 2025−1.0 pp

Mar 2026−6.0 pp

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021+31.7 pp

Dec 2021+12.0 pp

Mar 2022+20.1 pp

Jun 2022+53.2 pp

Sep 2022+6.5 pp

Dec 2022+14.4 pp

Mar 2023+23.8 pp

Jun 2023−5.3 pp

Sep 2023+5.7 pp

Dec 2023+5.0 pp

Mar 2024−1.0 pp

Jun 2024+4.0 pp

Sep 20240.0 pp

Dec 2024+1.0 pp

Mar 2025+2.0 pp

Jun 2025+1.0 pp

Sep 2025+1.0 pp

Dec 2025+1.0 pp

Mar 2026+2.0 pp

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021+154.5 pp

Dec 2021+45.6 pp

Mar 2022+19.9 pp

Jun 2022+148.4 pp

Sep 2022+29.4 pp

Dec 2022+12.6 pp

Mar 2023+28.1 pp

Jun 2023+6.4 pp

Sep 2023+6.0 pp

Dec 2023+8.0 pp

Mar 2024+9.0 pp

Jun 2024−5.0 pp

Sep 2024+3.0 pp

Dec 2024+1.0 pp

Mar 2025+1.0 pp

Jun 2025+2.0 pp

Sep 2025−4.0 pp

Dec 2025−2.0 pp

Mar 2026−5.0 pp

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021+68.6 pp

Dec 2021+31.9 pp

Mar 2022+6.6 pp

Jun 2022+73.0 pp

Sep 2022+13.9 pp

Dec 2022+6.1 pp

Mar 2023+14.8 pp

Jun 2023−1.9 pp

Sep 2023+1.2 pp

Dec 2023+2.0 pp

Mar 2024+2.0 pp

Jun 2024+1.0 pp

Sep 2024+2.0 pp

Dec 2024+1.0 pp

Mar 20250.0 pp

Jun 2025−1.0 pp

Sep 2025+1.0 pp

Dec 20250.0 pp

Mar 20260.0 pp

Jun 2026+1.0 pp

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+14.0 pp

Jun 2025+1.0 pp

Sep 2025+2.0 pp

Dec 2025+1.0 pp

Mar 2026−2.0 pp

Jun 2026+1.0 pp

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023+9.6 pp

Sep 2023−2.6 pp

Dec 2023+1.0 pp

Mar 2024−8.0 pp

Jun 2024−7.0 pp

Sep 2024−6.0 pp

Dec 2024−4.0 pp

Mar 2025+5.0 pp

Jun 2025+5.0 pp

Sep 2025+6.0 pp

Dec 2025+6.0 pp

Mar 2026+2.0 pp

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025+8.0 pp

Sep 2025+3.0 pp

Dec 2025+1.0 pp

Mar 2026+2.0 pp

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 2021+18.9 pp

Dec 2021+14.8 pp

Mar 2022−9.8 pp

Jun 2022+46.0 pp

Sep 2022+12.7 pp

Dec 2022+10.0 pp

Mar 2023+37.0 pp

Jun 2023+1.4 pp

Sep 2023−2.6 pp

Dec 2023−5.0 pp

Mar 2024−3.0 pp

Jun 2024−4.0 pp

Sep 2024+1.0 pp

Dec 2024+3.0 pp

Mar 2025+2.0 pp

Jun 2025+1.0 pp

Sep 2025−3.0 pp

Dec 2025−2.0 pp

Mar 2026−2.0 pp

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021+101.2 pp

Dec 2021+23.2 pp

Mar 2022+6.5 pp

Jun 2022+78.6 pp

Sep 2022+17.5 pp

Dec 2022+5.1 pp

Mar 2023+11.5 pp

Jun 2023−3.7 pp

Sep 2023−4.2 pp

Dec 2023−3.1 pp

Mar 2024−4.1 pp

Jun 2024−10.0 pp

Sep 2024+2.0 pp

Dec 2024+0.4 pp

Mar 2025+4.5 pp

Jun 2025+9.5 pp

Sep 2025−0.2 pp

Dec 2025+1.7 pp

Mar 2026−1.2 pp

Jun 2026−2.8 pp

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023−7.2 pp

Sep 2023−7.4 pp

Dec 2023−1.0 pp

Mar 2024−3.0 pp

Jun 2024+9.0 pp

Sep 2024+12.0 pp

Dec 2024+5.0 pp

Mar 2025+7.0 pp

Jun 20250.0 pp

Sep 2025+2.0 pp

Dec 2025−1.0 pp

Mar 2026−6.0 pp

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025+14.0 pp

Sep 2025+6.0 pp

Dec 2025+2.0 pp

Mar 2026+3.0 pp

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024−14.0 pp

Mar 2025−11.0 pp

Jun 2025−18.0 pp

Sep 2025+5.0 pp

Dec 20250.0 pp

Mar 2026−1.0 pp

Jun 2026—

03 · compare level, then change

Profit Scale & Acceleration

Indian Hotels Co Ltd has the highest Net profit among the 24 Hotels companies compared here, at ₹2,308 crore. ITC Hotels Ltd is next at ₹869 crore. Asian Hotels (North) Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Indian Hotels Co Ltd leads with ₹2,308 crore of TTM profit, 165.6% above ITC Hotels Ltd. Asian Hotels (North) Ltd shows ≥100% on the scoring scale growth from a ₹132 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderIndian Hotels Co Ltd · ₹2,308 crore

Gap165.6% versus #2 · ITC Hotels Ltd

Persistence7/8 recent comparable periods

Coverage24/24 companies · 310 observations

Investor read: Indian Hotels Co Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Indian Hotels Co Ltd INDHOTEL₹2.3K Cr

2ITC Hotels Ltd ITCHOTELS₹869 Cr

3EIH Ltd EIHOTEL₹658 Cr

4Chalet Hotels Ltd CHALET₹645 Cr

5Samhi Hotels Ltd SAMHI₹566 Cr

Profit growthfastest growers

1Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified100%

2Chalet Hotels Ltd CHALET100%

3Samhi Hotels Ltd SAMHI100%

4TajGVK Hotels & Resorts Ltd TAJGVK100%

5Leela Palaces Hotels & Resorts Ltd THELEELA100%

Net profit · company comparison

24/24 level · 20/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Samhi Hotels Ltd SAMHI	₹399 Cr	767%	Mar 2026
Indian Hotels Co Ltd INDHOTEL	₹391 Cr	19%	Jun 2026
TajGVK Hotels & Resorts Ltd TAJGVK	₹320 Cr	814%	Mar 2026
Ventive Hospitality Ltd VENTIVE	₹259 Cr	72%	Mar 2026
EIH Ltd EIHOTEL	₹249 Cr	-5.0%	Mar 2026
ITC Hotels Ltd ITCHOTELS	₹182 Cr	36%	Jun 2026
Leela Palaces Hotels & Resorts Ltd THELEELA	₹172 Cr	47%	Mar 2026
Chalet Hotels Ltd CHALET	₹163 Cr	31%	Mar 2026
Travel Food Services Ltd TRAVELFOOD	₹123 Cr	15%	Mar 2026
Lemon Tree Hotels Ltd LEMONTREE	₹116 Cr	7.4%	Mar 2026
Juniper Hotels Ltd JUNIPER	₹50 Cr	-9.1%	Mar 2026
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	₹38 Cr	-17%	Mar 2026
Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified	₹31 Cr	-82%	Mar 2026
U P Hotels Ltd UPHOT	₹17 Cr	0.0%	Dec 2025
Kamat Hotels (India) Ltd KAMATHOTEL	₹17 Cr	55%	Mar 2026
Benares Hotels Ltd BENARAS	₹14 Cr	0.0%	Dec 2025
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	₹12 Cr	-56%	Mar 2026
Asian Hotels (West) Ltd AHLWEST⚠ unverified	₹11 Cr	340%	Mar 2026
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	₹8 Cr	-38%	Mar 2026
Sayaji Hotels Ltd SAYAJIHOTL	₹6 Cr	-59%	Mar 2026
Viceroy Hotels Ltd VHLTD⚠ unverified	₹6 Cr	-40%	Mar 2026
Oriental Hotels Ltd ORIENTHOT	₹5 Cr	-20%	Jun 2026
Advent Hotels International Ltd ADVENTHTL⚠ unverified	₹4 Cr	-84%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹9 Cr

Sep 2022₹9 Cr

Dec 2022₹19 Cr

Mar 2023₹11 Cr

Jun 2023₹8 Cr

Sep 2023₹15 Cr

Dec 2023₹27 Cr

Mar 2024₹18 Cr

Jun 2024₹-2 Cr

Sep 2024₹27 Cr

Dec 2024₹32 Cr

Mar 2025₹27 Cr

Jun 2025₹13 Cr

Sep 2025₹16 Cr

Dec 2025₹24 Cr

Mar 2026₹12 Cr

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021₹-14 Cr

Dec 2021₹-14 Cr

Mar 2022₹-11 Cr

Jun 2022₹29 Cr

Sep 2022₹16 Cr

Dec 2022₹102 Cr

Mar 2023₹37 Cr

Jun 2023₹89 Cr

Sep 2023₹36 Cr

Dec 2023₹71 Cr

Mar 2024₹82 Cr

Jun 2024₹61 Cr

Sep 2024₹-139 Cr

Dec 2024₹97 Cr

Mar 2025₹124 Cr

Jun 2025₹203 Cr

Sep 2025₹155 Cr

Dec 2025₹124 Cr

Mar 2026₹163 Cr

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹149 Cr

Mar 2023₹92 Cr

Jun 2023₹106 Cr

Sep 2023₹94 Cr

Dec 2023₹230 Cr

Mar 2024₹248 Cr

Jun 2024₹97 Cr

Sep 2024₹133 Cr

Dec 2024₹279 Cr

Mar 2025₹262 Cr

Jun 2025₹37 Cr

Sep 2025₹117 Cr

Dec 2025₹255 Cr

Mar 2026₹249 Cr

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹404 Cr

Mar 2023₹339 Cr

Jun 2023₹236 Cr

Sep 2023₹179 Cr

Dec 2023₹477 Cr

Mar 2024₹438 Cr

Jun 2024₹260 Cr

Sep 2024₹583 Cr

Dec 2024₹633 Cr

Mar 2025₹563 Cr

Jun 2025₹329 Cr

Sep 2025₹318 Cr

Dec 2025₹954 Cr

Mar 2026₹645 Cr

Jun 2026₹391 Cr

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023₹1 Cr

Dec 2023₹0 Cr

Mar 2024₹632 Cr

Jun 2024₹87 Cr

Sep 2024₹77 Cr

Dec 2024₹216 Cr

Mar 2025₹258 Cr

Jun 2025₹134 Cr

Sep 2025₹133 Cr

Dec 2025₹237 Cr

Mar 2026₹317 Cr

Jun 2026₹182 Cr

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹-9 Cr

Sep 2022₹-9 Cr

Dec 2022₹1 Cr

Mar 2023₹15 Cr

Jun 2023₹-11 Cr

Sep 2023₹-16 Cr

Dec 2023₹4 Cr

Mar 2024₹47 Cr

Jun 2024₹12 Cr

Sep 2024₹-28 Cr

Dec 2024₹32 Cr

Mar 2025₹55 Cr

Jun 2025₹9 Cr

Sep 2025₹17 Cr

Dec 2025₹65 Cr

Mar 2026₹50 Cr

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹-75 Cr

Sep 2024₹-51 Cr

Dec 2024₹56 Cr

Mar 2025₹117 Cr

Jun 2025₹9 Cr

Sep 2025₹75 Cr

Dec 2025₹148 Cr

Mar 2026₹172 Cr

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹49 Cr

Mar 2023₹59 Cr

Jun 2023₹28 Cr

Sep 2023₹26 Cr

Dec 2023₹44 Cr

Mar 2024₹84 Cr

Jun 2024₹20 Cr

Sep 2024₹35 Cr

Dec 2024₹80 Cr

Mar 2025₹108 Cr

Jun 2025₹48 Cr

Sep 2025₹42 Cr

Dec 2025₹82 Cr

Mar 2026₹116 Cr

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021₹-8 Cr

Dec 2021₹9 Cr

Mar 2022₹0 Cr

Jun 2022₹10 Cr

Sep 2022₹8 Cr

Dec 2022₹16 Cr

Mar 2023₹21 Cr

Jun 2023₹7 Cr

Sep 2023₹4 Cr

Dec 2023₹19 Cr

Mar 2024₹19 Cr

Jun 2024₹-1 Cr

Sep 2024₹6 Cr

Dec 2024₹15 Cr

Mar 2025₹19 Cr

Jun 2025₹7 Cr

Sep 2025₹8 Cr

Dec 2025₹21 Cr

Mar 2026₹32 Cr

Jun 2026₹5 Cr

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹-101 Cr

Sep 2022₹-84 Cr

Dec 2022₹-80 Cr

Mar 2023₹-74 Cr

Jun 2023₹-83 Cr

Sep 2023₹-88 Cr

Dec 2023₹-74 Cr

Mar 2024₹11 Cr

Jun 2024₹4 Cr

Sep 2024₹13 Cr

Dec 2024₹23 Cr

Mar 2025₹46 Cr

Jun 2025₹19 Cr

Sep 2025₹100 Cr

Dec 2025₹48 Cr

Mar 2026₹399 Cr

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹60 Cr

Sep 2024₹110 Cr

Dec 2024₹103 Cr

Mar 2025₹107 Cr

Jun 2025₹95 Cr

Sep 2025₹98 Cr

Dec 2025₹137 Cr

Mar 2026₹123 Cr

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023₹43 Cr

Mar 2024₹47 Cr

Jun 2024₹26 Cr

Sep 2024₹-47 Cr

Dec 2024₹35 Cr

Mar 2025₹151 Cr

Jun 2025₹38 Cr

Sep 2025₹64 Cr

Dec 2025₹140 Cr

Mar 2026₹259 Cr

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023-11%

Sep 202367%

Dec 202342%

Mar 202464%

Jun 2024-125%

Sep 202480%

Dec 202419%

Mar 202550%

Jun 2025—

Sep 2025-41%

Dec 2025-25%

Mar 2026-56%

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023207%

Sep 2023125%

Dec 2023-30%

Mar 2024122%

Jun 2024-31%

Sep 2024-486%

Dec 202437%

Mar 202551%

Jun 2025233%

Sep 2025—

Dec 202528%

Mar 202631%

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202354%

Mar 2024170%

Jun 2024-8.5%

Sep 202441%

Dec 202421%

Mar 20255.7%

Jun 2025-62%

Sep 2025-12%

Dec 2025-8.6%

Mar 2026-5.0%

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202318%

Mar 202429%

Jun 202410%

Sep 2024226%

Dec 202433%

Mar 202529%

Jun 202527%

Sep 2025-45%

Dec 202551%

Mar 202615%

Jun 202619%

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20247,600%

Dec 2024—

Mar 2025-59%

Jun 202554%

Sep 202573%

Dec 20259.7%

Mar 202623%

Jun 202636%

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023300%

Mar 2024213%

Jun 2024—

Sep 2024—

Dec 2024700%

Mar 202517%

Jun 2025-25%

Sep 2025—

Dec 2025103%

Mar 2026-9.1%

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025164%

Mar 202647%

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-10%

Mar 202442%

Jun 2024-29%

Sep 202435%

Dec 202482%

Mar 202529%

Jun 2025140%

Sep 202520%

Dec 20252.5%

Mar 20267.4%

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 202278%

Mar 2023—

Jun 2023-26%

Sep 2023-45%

Dec 202316%

Mar 2024-8.0%

Jun 2024-118%

Sep 202431%

Dec 2024-17%

Mar 20250.4%

Jun 2025—

Sep 202539%

Dec 202536%

Mar 202667%

Jun 2026-20%

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025318%

Jun 2025375%

Sep 2025669%

Dec 2025109%

Mar 2026767%

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202558%

Sep 2025-11%

Dec 202533%

Mar 202615%

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024-19%

Mar 2025221%

Jun 202546%

Sep 2025—

Dec 2025300%

Mar 202672%

Jun 2026—

04 · compare level, then change

Capacity Spending & Returns On It

ITC Hotels Ltd has the highest CAPEX among the 24 Hotels companies compared here, at ₹1,009 crore. Chalet Hotels Ltd is next at ₹331 crore. Chalet Hotels Ltd has the highest CAPEX intensity at 79.2%, so level and change sit with different companies. 8 of 24 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: ITC Hotels Ltd reports ₹1,009 crore of CAPEX; Chalet Hotels Ltd has the highest covered intensity at 79.2%. Coverage is only 8 of 24 companies and 18 reported observations, so this is partial evidence—not a complete sector rank.

LeaderITC Hotels Ltd · ₹1,009 crore

Gap204.8% versus #2 · Chalet Hotels Ltd

Persistence1/1 recent comparable periods

Coverage8/24 companies · 18 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1ITC Hotels Ltd ITCHOTELS₹1.0K Cr

2Chalet Hotels Ltd CHALET₹331 Cr

3Samhi Hotels Ltd SAMHI₹19 Cr

4Asian Hotels (West) Ltd AHLWEST⚠ unverified₹13 Cr

5Apeejay Surrendra Park Hotels Ltd PARKHOTELS₹10 Cr

CAPEX intensityhighest reinvestment intensity

1Chalet Hotels Ltd CHALET79%

2ITC Hotels Ltd ITCHOTELS30%

3Samhi Hotels Ltd SAMHI13%

4Asian Hotels (West) Ltd AHLWEST⚠ unverified11%

5Apeejay Surrendra Park Hotels Ltd PARKHOTELS8.8%

Capital expenditure · company comparison

8/24 level · 8/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: Indian Hotels Co Ltd (INDHOTEL) — its two data sources disagree by up to 10% on reported income across 14 comparable periods, so its derived ratios are withheld; EIH Ltd (EIHOTEL) — its two data sources disagree by up to 6.2% on reported income across 14 comparable periods, so its derived ratios are withheld; Travel Food Services Ltd (TRAVELFOOD) — its two data sources disagree by up to 6.8% on reported income across 8 comparable periods, so its derived ratios are withheld; Ventive Hospitality Ltd (VENTIVE) — its two data sources disagree by up to 35% on reported income across 10 comparable periods, so its derived ratios are withheld; Lemon Tree Hotels Ltd (LEMONTREE) — its two data sources disagree by up to 25% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
ITC Hotels Ltd ITCHOTELS	₹1.0K Cr	30%	Jun 2026
Chalet Hotels Ltd CHALET	₹331 Cr	79%	Mar 2026
Asian Hotels (West) Ltd AHLWEST⚠ unverified	₹13 Cr	11%	Mar 2026
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	₹10 Cr	8.8%	Mar 2026
Juniper Hotels Ltd JUNIPER	₹6 Cr	4.1%	Mar 2026
Advent Hotels International Ltd ADVENTHTL⚠ unverified	₹6 Cr	7.8%	Mar 2026
Viceroy Hotels Ltd VHLTD⚠ unverified	₹2 Cr	6.5%	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Advent Hotels International Ltd · ADVENTHTL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹6 Cr

Sep 2024₹6 Cr

Dec 2024—

Mar 2025—

Jun 2025₹18 Cr

Sep 2025₹6 Cr

Dec 2025—

Mar 2026—

Jun 2026—

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹10 Cr

Sep 2022₹10 Cr

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Asian Hotels (West) Ltd · AHLWEST⚠ unverified

Sep 2021₹0 Cr

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025₹13 Cr

Sep 2025₹13 Cr

Dec 2025—

Mar 2026—

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹34 Cr

Mar 2023₹105 Cr

Jun 2023—

Sep 2023—

Dec 2023₹24 Cr

Mar 2024₹331 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹1.0K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹6 Cr

Sep 2022₹6 Cr

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Viceroy Hotels Ltd · VHLTD⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025₹2 Cr

Sep 2025₹2 Cr

Dec 2025—

Mar 2026—

Jun 2026—

CAPEX intensity · reported quarter history

Advent Hotels International Ltd · ADVENTHTL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20247.9%

Dec 2024—

Mar 2025—

Jun 202522%

Sep 20257.8%

Dec 2025—

Mar 2026—

Jun 2026—

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20228.8%

Sep 20228.8%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Asian Hotels (West) Ltd · AHLWEST⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202515%

Sep 202511%

Dec 2025—

Mar 2026—

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 202212%

Mar 202331%

Jun 2023—

Sep 2023—

Dec 20236.4%

Mar 202479%

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202430%

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20224.1%

Sep 20224.1%

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Viceroy Hotels Ltd · VHLTD⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20256.5%

Dec 2025—

Mar 2026—

Jun 2026—

Annual capital allocation · 10-year view

24/24 capacity base · 24/24 OCF · 24/24 CAPEX · 24/24 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Mar 2017—

Mar 2018₹1.1K Cr

Mar 2019₹1.1K Cr

Mar 2020—

Mar 2021₹1.2K Cr

Mar 2022₹1.2K Cr

Mar 2023₹1.2K Cr

Mar 2024₹1.3K Cr

Mar 2025₹1.3K Cr

Mar 2026₹1.7K Cr

Chalet Hotels Ltd · CHALET

Mar 2017₹2.9K Cr

Mar 2018₹2.8K Cr

Mar 2019₹2.8K Cr

Mar 2020₹3.1K Cr

Mar 2021₹3.1K Cr

Mar 2022₹3.4K Cr

Mar 2023₹4.0K Cr

Mar 2024₹4.4K Cr

Mar 2025₹5.4K Cr

Mar 2026₹5.8K Cr

EIH Ltd · EIHOTEL

Mar 2017₹2.4K Cr

Mar 2018₹2.7K Cr

Mar 2019₹2.7K Cr

Mar 2020₹3.1K Cr

Mar 2021₹3.1K Cr

Mar 2022₹2.9K Cr

Mar 2023₹3.0K Cr

Mar 2024₹3.1K Cr

Mar 2025₹3.5K Cr

Mar 2026₹4.1K Cr

Indian Hotels Co Ltd · INDHOTEL

Mar 2017₹6.0K Cr

Mar 2018₹6.4K Cr

Mar 2019₹6.5K Cr

Mar 2020₹8.3K Cr

Mar 2021₹8.6K Cr

Mar 2022₹8.6K Cr

Mar 2023₹9.2K Cr

Mar 2024₹9.6K Cr

Mar 2025₹11.6K Cr

Mar 2026₹13.0K Cr

ITC Hotels Ltd · ITCHOTELS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹8.2K Cr

Mar 2025₹8.3K Cr

Mar 2026₹8.3K Cr

Juniper Hotels Ltd · JUNIPER

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹3.0K Cr

Mar 2021₹2.9K Cr

Mar 2022₹2.9K Cr

Mar 2023₹2.8K Cr

Mar 2024₹3.5K Cr

Mar 2025₹3.9K Cr

Mar 2026₹3.9K Cr

Leela Palaces Hotels & Resorts Ltd · THELEELA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023₹5.3K Cr

Mar 2024₹6.3K Cr

Mar 2025₹6.4K Cr

Mar 2026₹8.1K Cr

Lemon Tree Hotels Ltd · LEMONTREE

Mar 2017₹1.8K Cr

Mar 2018₹2.0K Cr

Mar 2019₹2.3K Cr

Mar 2020₹3.5K Cr

Mar 2021₹3.4K Cr

Mar 2022₹3.3K Cr

Mar 2023₹3.4K Cr

Mar 2024₹3.7K Cr

Mar 2025₹3.6K Cr

Mar 2026₹3.7K Cr

Oriental Hotels Ltd · ORIENTHOT

Mar 2017₹395 Cr

Mar 2018₹393 Cr

Mar 2019₹397 Cr

Mar 2020₹398 Cr

Mar 2021₹377 Cr

Mar 2022₹355 Cr

Mar 2023₹384 Cr

Mar 2024₹442 Cr

Mar 2025₹482 Cr

Mar 2026₹479 Cr

Samhi Hotels Ltd · SAMHI

Mar 2017—

Mar 2018—

Mar 2019₹2.5K Cr

Mar 2020₹2.3K Cr

Mar 2021₹2.2K Cr

Mar 2022₹2.1K Cr

Mar 2023₹1.9K Cr

Mar 2024₹3.0K Cr

Mar 2025₹3.3K Cr

Mar 2026₹3.6K Cr

Travel Food Services Ltd · TRAVELFOOD

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹75 Cr

Mar 2021₹83 Cr

Mar 2022₹101 Cr

Mar 2023₹359 Cr

Mar 2024₹410 Cr

Mar 2025₹411 Cr

Mar 2026₹664 Cr

Ventive Hospitality Ltd · VENTIVE

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹565 Cr

Mar 2025₹8.7K Cr

Mar 2026₹9.5K Cr

Operating cash flow · fiscal-year history

Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Mar 2017—

Mar 2018₹60 Cr

Mar 2019₹99 Cr

Mar 2020—

Mar 2021₹27 Cr

Mar 2022₹58 Cr

Mar 2023₹176 Cr

Mar 2024₹168 Cr

Mar 2025₹158 Cr

Mar 2026₹182 Cr

Chalet Hotels Ltd · CHALET

Mar 2017₹201 Cr

Mar 2018₹249 Cr

Mar 2019₹366 Cr

Mar 2020₹252 Cr

Mar 2021₹60 Cr

Mar 2022₹62 Cr

Mar 2023₹477 Cr

Mar 2024₹689 Cr

Mar 2025₹950 Cr

Mar 2026₹1.1K Cr

EIH Ltd · EIHOTEL

Mar 2017₹243 Cr

Mar 2018₹272 Cr

Mar 2019₹282 Cr

Mar 2020₹317 Cr

Mar 2021₹-139 Cr

Mar 2022₹-19 Cr

Mar 2023₹614 Cr

Mar 2024₹712 Cr

Mar 2025₹825 Cr

Mar 2026₹993 Cr

Indian Hotels Co Ltd · INDHOTEL

Mar 2017₹535 Cr

Mar 2018₹492 Cr

Mar 2019₹711 Cr

Mar 2020₹823 Cr

Mar 2021₹-319 Cr

Mar 2022₹672 Cr

Mar 2023₹1.6K Cr

Mar 2024₹1.9K Cr

Mar 2025₹2.2K Cr

Mar 2026₹2.5K Cr

ITC Hotels Ltd · ITCHOTELS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹672 Cr

Mar 2025₹801 Cr

Mar 2026₹1.1K Cr

Juniper Hotels Ltd · JUNIPER

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹224 Cr

Mar 2021₹54 Cr

Mar 2022₹-36 Cr

Mar 2023₹286 Cr

Mar 2024₹327 Cr

Mar 2025₹309 Cr

Mar 2026₹394 Cr

Leela Palaces Hotels & Resorts Ltd · THELEELA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022₹72 Cr

Mar 2023₹318 Cr

Mar 2024₹539 Cr

Mar 2025₹553 Cr

Mar 2026₹777 Cr

Lemon Tree Hotels Ltd · LEMONTREE

Mar 2017₹122 Cr

Mar 2018₹115 Cr

Mar 2019₹187 Cr

Mar 2020₹151 Cr

Mar 2021₹41 Cr

Mar 2022₹135 Cr

Mar 2023₹385 Cr

Mar 2024₹465 Cr

Mar 2025₹542 Cr

Mar 2026₹542 Cr

Oriental Hotels Ltd · ORIENTHOT

Mar 2017₹42 Cr

Mar 2018₹52 Cr

Mar 2019₹38 Cr

Mar 2020₹45 Cr

Mar 2021₹-21 Cr

Mar 2022₹29 Cr

Mar 2023₹104 Cr

Mar 2024₹91 Cr

Mar 2025₹100 Cr

Mar 2026₹128 Cr

Samhi Hotels Ltd · SAMHI

Mar 2017—

Mar 2018—

Mar 2019₹101 Cr

Mar 2020₹162 Cr

Mar 2021₹17 Cr

Mar 2022₹26 Cr

Mar 2023₹217 Cr

Mar 2024₹275 Cr

Mar 2025₹357 Cr

Mar 2026₹407 Cr

Travel Food Services Ltd · TRAVELFOOD

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹104 Cr

Mar 2021₹14 Cr

Mar 2022₹45 Cr

Mar 2023₹322 Cr

Mar 2024₹353 Cr

Mar 2025₹515 Cr

Mar 2026₹393 Cr

Ventive Hospitality Ltd · VENTIVE

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹265 Cr

Mar 2025₹677 Cr

Mar 2026₹950 Cr

CAPEX · reported cash flow · fiscal-year history

Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Mar 2017—

Mar 2018—

Mar 2019₹47 Cr

Mar 2020—

Mar 2021—

Mar 2022₹27 Cr

Mar 2023₹105 Cr

Mar 2024₹99 Cr

Mar 2025₹116 Cr

Mar 2026₹397 Cr

Chalet Hotels Ltd · CHALET

Mar 2017₹565 Cr

Mar 2018₹93 Cr

Mar 2019₹61 Cr

Mar 2020₹433 Cr

Mar 2021₹126 Cr

Mar 2022₹447 Cr

Mar 2023₹624 Cr

Mar 2024₹629 Cr

Mar 2025₹1.1K Cr

Mar 2026₹662 Cr

EIH Ltd · EIHOTEL

Mar 2017₹196 Cr

Mar 2018₹400 Cr

Mar 2019₹144 Cr

Mar 2020₹576 Cr

Mar 2021₹46 Cr

Mar 2022₹-21 Cr

Mar 2023₹184 Cr

Mar 2024₹219 Cr

Mar 2025₹530 Cr

Mar 2026₹791 Cr

Indian Hotels Co Ltd · INDHOTEL

Mar 2017₹-715 Cr

Mar 2018₹623 Cr

Mar 2019₹506 Cr

Mar 2020₹2.2K Cr

Mar 2021₹710 Cr

Mar 2022₹412 Cr

Mar 2023₹958 Cr

Mar 2024₹870 Cr

Mar 2025₹2.5K Cr

Mar 2026₹2.1K Cr

ITC Hotels Ltd · ITCHOTELS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024—

Mar 2025₹545 Cr

Mar 2026₹366 Cr

Juniper Hotels Ltd · JUNIPER

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021₹8 Cr

Mar 2022₹69 Cr

Mar 2023₹-4 Cr

Mar 2024₹824 Cr

Mar 2025₹477 Cr

Mar 2026₹151 Cr

Leela Palaces Hotels & Resorts Ltd · THELEELA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹1.1K Cr

Mar 2025₹325 Cr

Mar 2026₹1.8K Cr

Lemon Tree Hotels Ltd · LEMONTREE

Mar 2017₹330 Cr

Mar 2018₹303 Cr

Mar 2019₹303 Cr

Mar 2020₹1.3K Cr

Mar 2021₹47 Cr

Mar 2022₹16 Cr

Mar 2023₹188 Cr

Mar 2024₹339 Cr

Mar 2025₹88 Cr

Mar 2026₹195 Cr

Oriental Hotels Ltd · ORIENTHOT

Mar 2017₹9 Cr

Mar 2018₹26 Cr

Mar 2019₹32 Cr

Mar 2020₹29 Cr

Mar 2021₹8 Cr

Mar 2022₹4 Cr

Mar 2023₹52 Cr

Mar 2024₹82 Cr

Mar 2025₹73 Cr

Mar 2026₹31 Cr

Samhi Hotels Ltd · SAMHI

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹-68 Cr

Mar 2021₹19 Cr

Mar 2022₹-48 Cr

Mar 2023₹-30 Cr

Mar 2024₹1.2K Cr

Mar 2025₹422 Cr

Mar 2026₹453 Cr

Travel Food Services Ltd · TRAVELFOOD

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021₹30 Cr

Mar 2022₹35 Cr

Mar 2023₹341 Cr

Mar 2024₹162 Cr

Mar 2025₹127 Cr

Mar 2026₹403 Cr

Ventive Hospitality Ltd · VENTIVE

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024—

Mar 2025₹8.4K Cr

Mar 2026₹1.2K Cr

Free cash flow · fiscal-year history

Showing the 12 largest of 24 companies with a series here. The remaining 12 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Mar 2017—

Mar 2018—

Mar 2019₹52 Cr

Mar 2020—

Mar 2021—

Mar 2022₹31 Cr

Mar 2023₹71 Cr

Mar 2024₹69 Cr

Mar 2025₹42 Cr

Mar 2026₹-215 Cr

Chalet Hotels Ltd · CHALET

Mar 2017₹-364 Cr

Mar 2018₹156 Cr

Mar 2019₹305 Cr

Mar 2020₹-181 Cr

Mar 2021₹-66 Cr

Mar 2022₹-385 Cr

Mar 2023₹-147 Cr

Mar 2024₹60 Cr

Mar 2025₹-179 Cr

Mar 2026₹405 Cr

EIH Ltd · EIHOTEL

Mar 2017₹47 Cr

Mar 2018₹-128 Cr

Mar 2019₹138 Cr

Mar 2020₹-259 Cr

Mar 2021₹-185 Cr

Mar 2022₹2 Cr

Mar 2023₹430 Cr

Mar 2024₹493 Cr

Mar 2025₹295 Cr

Mar 2026₹202 Cr

Indian Hotels Co Ltd · INDHOTEL

Mar 2017₹1.3K Cr

Mar 2018₹-131 Cr

Mar 2019₹205 Cr

Mar 2020₹-1.3K Cr

Mar 2021₹-1.0K Cr

Mar 2022₹260 Cr

Mar 2023₹661 Cr

Mar 2024₹1.1K Cr

Mar 2025₹-308 Cr

Mar 2026₹420 Cr

ITC Hotels Ltd · ITCHOTELS

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024—

Mar 2025₹256 Cr

Mar 2026₹744 Cr

Juniper Hotels Ltd · JUNIPER

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021₹46 Cr

Mar 2022₹-105 Cr

Mar 2023₹290 Cr

Mar 2024₹-497 Cr

Mar 2025₹-168 Cr

Mar 2026₹243 Cr

Leela Palaces Hotels & Resorts Ltd · THELEELA

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024₹-574 Cr

Mar 2025₹228 Cr

Mar 2026₹-982 Cr

Lemon Tree Hotels Ltd · LEMONTREE

Mar 2017₹-208 Cr

Mar 2018₹-188 Cr

Mar 2019₹-116 Cr

Mar 2020₹-1.2K Cr

Mar 2021₹-6 Cr

Mar 2022₹119 Cr

Mar 2023₹197 Cr

Mar 2024₹126 Cr

Mar 2025₹454 Cr

Mar 2026₹347 Cr

Oriental Hotels Ltd · ORIENTHOT

Mar 2017₹33 Cr

Mar 2018₹26 Cr

Mar 2019₹6 Cr

Mar 2020₹16 Cr

Mar 2021₹-29 Cr

Mar 2022₹25 Cr

Mar 2023₹52 Cr

Mar 2024₹9 Cr

Mar 2025₹27 Cr

Mar 2026₹97 Cr

Samhi Hotels Ltd · SAMHI

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020₹230 Cr

Mar 2021₹-2 Cr

Mar 2022₹74 Cr

Mar 2023₹247 Cr

Mar 2024₹-885 Cr

Mar 2025₹-65 Cr

Mar 2026₹-46 Cr

Travel Food Services Ltd · TRAVELFOOD

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021₹-16 Cr

Mar 2022₹10 Cr

Mar 2023₹-19 Cr

Mar 2024₹191 Cr

Mar 2025₹388 Cr

Mar 2026₹-10 Cr

Ventive Hospitality Ltd · VENTIVE

Mar 2017—

Mar 2018—

Mar 2019—

Mar 2020—

Mar 2021—

Mar 2022—

Mar 2023—

Mar 2024—

Mar 2025₹-7.7K Cr

Mar 2026₹-212 Cr

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

U P Hotels Ltd has the lowest Gross debt among the 24 Hotels companies compared here, at ₹0 crore. Benares Hotels Ltd is next at ₹4 crore. ITC Hotels Ltd has the lowest Net debt at ₹1,518 crore net cash, so level and change sit with different companies. Its Gross debt series carries 5 reported observations across the 20-quarter window.

What the numbers say: ITC Hotels Ltd has the clearest covered balance-sheet capacity with ₹1,518 crore net cash and gross debt of ₹74 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderU P Hotels Ltd · ₹0 crore

Gap100% versus #2 · Benares Hotels Ltd

PersistenceNot enough history

Coverage24/24 companies · 264 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1U P Hotels Ltd UPHOT · older report₹0 Cr

2Benares Hotels Ltd BENARAS · older report₹4 Cr

3EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified₹4 Cr

4HLV Ltd HLVLTD · older report₹33 Cr

5ITC Hotels Ltd ITCHOTELS₹74 Cr

Net debtlowest net debt

1ITC Hotels Ltd ITCHOTELS₹-1.5K Cr

2EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified₹-212 Cr

3TajGVK Hotels & Resorts Ltd TAJGVK₹-21 Cr

4Oriental Hotels Ltd ORIENTHOT₹121 Cr

5Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified₹150 Cr

Debt and balance-sheet capacity · company comparison

24/24 level · 14/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
Indian Hotels Co Ltd INDHOTEL	₹2.8K Cr	—	Jun 2026
Ventive Hospitality Ltd VENTIVE	₹2.6K Cr	—	Mar 2026
Chalet Hotels Ltd CHALET	₹2.4K Cr	₹2.0K Cr	Mar 2026
Lemon Tree Hotels Ltd LEMONTREE	₹2.0K Cr	—	Mar 2026
Samhi Hotels Ltd SAMHI	₹1.9K Cr	₹1.7K Cr	Mar 2026
Leela Palaces Hotels & Resorts Ltd THELEELA	₹1.8K Cr	₹1.5K Cr	Mar 2026
Juniper Hotels Ltd JUNIPER	₹1.2K Cr	₹1.1K Cr	Mar 2026
Asian Hotels (West) Ltd AHLWEST⚠ unverified	₹839 Cr	₹735 Cr	Mar 2026
Advent Hotels International Ltd ADVENTHTL⚠ unverified	₹799 Cr	₹772 Cr	Mar 2026
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	₹641 Cr	₹563 Cr	Mar 2026
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	₹373 Cr	₹272 Cr	Mar 2026
Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified	₹334 Cr	₹150 Cr	Mar 2026
Viceroy Hotels Ltd VHLTD⚠ unverified	₹264 Cr	₹245 Cr	Mar 2026
EIH Ltd EIHOTEL	₹252 Cr	—	Mar 2026
Travel Food Services Ltd TRAVELFOOD	₹245 Cr	—	Mar 2026
Kamat Hotels (India) Ltd KAMATHOTEL	₹233 Cr	—	Mar 2026
Oriental Hotels Ltd ORIENTHOT	₹131 Cr	₹121 Cr	Jun 2026
TajGVK Hotels & Resorts Ltd TAJGVK	₹128 Cr	₹-21 Cr	Mar 2026
Sayaji Hotels Ltd SAYAJIHOTL	₹126 Cr	—	Mar 2026
ITC Hotels Ltd ITCHOTELS	₹74 Cr	₹-1.5K Cr	Jun 2026
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	₹4 Cr	₹-212 Cr	Mar 2026
Benares Hotels Ltd BENARAS	₹4 Cr	—	Dec 2025
U P Hotels Ltd UPHOT	₹0 Cr	—	Dec 2025

Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022₹654 Cr

Jun 2022₹654 Cr

Sep 2022—

Dec 2022—

Mar 2023₹617 Cr

Jun 2023—

Sep 2023₹645 Cr

Dec 2023—

Mar 2024₹100 Cr

Jun 2024₹100 Cr

Sep 2024₹138 Cr

Dec 2024₹138 Cr

Mar 2025₹168 Cr

Jun 2025₹168 Cr

Sep 2025₹306 Cr

Dec 2025₹306 Cr

Mar 2026₹373 Cr

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021₹2.3K Cr

Dec 2021₹2.3K Cr

Mar 2022₹2.6K Cr

Jun 2022₹2.6K Cr

Sep 2022₹2.6K Cr

Dec 2022—

Mar 2023₹2.9K Cr

Jun 2023₹2.9K Cr

Sep 2023₹3.0K Cr

Dec 2023₹2.9K Cr

Mar 2024₹3.0K Cr

Jun 2024₹3.0K Cr

Sep 2024₹2.1K Cr

Dec 2024₹2.1K Cr

Mar 2025₹2.6K Cr

Jun 2025₹2.6K Cr

Sep 2025₹2.5K Cr

Dec 2025₹2.5K Cr

Mar 2026₹2.4K Cr

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021—

Dec 2021—

Mar 2022₹475 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹238 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹199 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹265 Cr

Jun 2025—

Sep 2025₹250 Cr

Dec 2025—

Mar 2026₹252 Cr

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021—

Dec 2021—

Mar 2022₹3.9K Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹3.1K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹2.7K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹3.1K Cr

Jun 2025—

Sep 2025₹3.2K Cr

Dec 2025—

Mar 2026₹2.8K Cr

Jun 2026—

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹74 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹73 Cr

Jun 2025₹73 Cr

Sep 2025₹80 Cr

Dec 2025₹80 Cr

Mar 2026₹74 Cr

Jun 2026₹74 Cr

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022₹2.5K Cr

Jun 2022₹2.5K Cr

Sep 2022—

Dec 2022—

Mar 2023₹2.4K Cr

Jun 2023—

Sep 2023₹2.7K Cr

Dec 2023—

Mar 2024₹1.3K Cr

Jun 2024₹1.3K Cr

Sep 2024₹1.2K Cr

Dec 2024₹1.2K Cr

Mar 2025₹1.5K Cr

Jun 2025₹1.5K Cr

Sep 2025₹1.4K Cr

Dec 2025₹1.4K Cr

Mar 2026₹1.2K Cr

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹3.9K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹4.5K Cr

Jun 2024₹4.5K Cr

Sep 2024—

Dec 2024—

Mar 2025₹4.1K Cr

Jun 2025₹4.1K Cr

Sep 2025₹1.7K Cr

Dec 2025₹1.7K Cr

Mar 2026₹1.8K Cr

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 2021—

Dec 2021—

Mar 2022₹2.1K Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹2.2K Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹2.3K Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹2.1K Cr

Jun 2025—

Sep 2025₹2.1K Cr

Dec 2025—

Mar 2026₹2.0K Cr

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021₹294 Cr

Dec 2021₹294 Cr

Mar 2022₹280 Cr

Jun 2022₹280 Cr

Sep 2022₹268 Cr

Dec 2022₹268 Cr

Mar 2023₹215 Cr

Jun 2023₹215 Cr

Sep 2023₹210 Cr

Dec 2023₹210 Cr

Mar 2024₹202 Cr

Jun 2024₹202 Cr

Sep 2024₹213 Cr

Dec 2024₹213 Cr

Mar 2025₹183 Cr

Jun 2025₹183 Cr

Sep 2025₹188 Cr

Dec 2025₹188 Cr

Mar 2026₹131 Cr

Jun 2026₹131 Cr

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022₹2.6K Cr

Jun 2022₹2.6K Cr

Sep 2022₹2.7K Cr

Dec 2022—

Mar 2023₹2.7K Cr

Jun 2023₹2.7K Cr

Sep 2023₹2.6K Cr

Dec 2023₹2.6K Cr

Mar 2024₹2.1K Cr

Jun 2024₹2.1K Cr

Sep 2024₹2.2K Cr

Dec 2024₹2.2K Cr

Mar 2025₹2.2K Cr

Jun 2025₹2.2K Cr

Sep 2025₹1.7K Cr

Dec 2025₹1.7K Cr

Mar 2026₹1.9K Cr

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022₹38 Cr

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023₹383 Cr

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹416 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹333 Cr

Jun 2025—

Sep 2025₹286 Cr

Dec 2025—

Mar 2026₹245 Cr

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹470 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹2.7K Cr

Jun 2025—

Sep 2025₹2.6K Cr

Dec 2025—

Mar 2026₹2.6K Cr

Jun 2026—

Net debt · reported quarter history

Showing the 12 largest of 14 companies with a series here. The remaining 2 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹645 Cr

Sep 2022—

Dec 2022—

Mar 2023₹601 Cr

Jun 2023—

Sep 2023₹626 Cr

Dec 2023—

Mar 2024₹37 Cr

Jun 2024₹38 Cr

Sep 2024₹89 Cr

Dec 2024₹89 Cr

Mar 2025₹90 Cr

Jun 2025₹90 Cr

Sep 2025₹225 Cr

Dec 2025₹225 Cr

Mar 2026₹272 Cr

Jun 2026—

Asian Hotels (North) Ltd · ASIANHOTNR⚠ unverified

Sep 2021₹1.0K Cr

Dec 2021₹1.0K Cr

Mar 2022₹1.1K Cr

Jun 2022₹1.1K Cr

Sep 2022₹1.1K Cr

Dec 2022₹1.1K Cr

Mar 2023₹1.1K Cr

Jun 2023₹1.1K Cr

Sep 2023₹1.0K Cr

Dec 2023₹1.0K Cr

Mar 2024₹999 Cr

Jun 2024₹998 Cr

Sep 2024₹1.0K Cr

Dec 2024₹1.0K Cr

Mar 2025₹496 Cr

Jun 2025₹496 Cr

Sep 2025₹611 Cr

Dec 2025₹611 Cr

Mar 2026₹150 Cr

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021₹2.3K Cr

Dec 2021₹2.3K Cr

Mar 2022₹2.5K Cr

Jun 2022₹2.5K Cr

Sep 2022₹2.6K Cr

Dec 2022—

Mar 2023₹2.8K Cr

Jun 2023₹2.8K Cr

Sep 2023₹2.9K Cr

Dec 2023₹2.8K Cr

Mar 2024₹2.9K Cr

Jun 2024₹2.9K Cr

Sep 2024₹2.0K Cr

Dec 2024₹2.0K Cr

Mar 2025₹2.4K Cr

Jun 2025₹2.4K Cr

Sep 2025₹2.3K Cr

Dec 2025₹2.3K Cr

Mar 2026₹2.0K Cr

Jun 2026—

EIH Associated Hotels Ltd · EIHAHOTELS⚠ unverified

Sep 2021₹-46 Cr

Dec 2021₹-46 Cr

Mar 2022₹-80 Cr

Jun 2022₹-80 Cr

Sep 2022₹-88 Cr

Dec 2022₹-88 Cr

Mar 2023₹-153 Cr

Jun 2023₹-153 Cr

Sep 2023₹-115 Cr

Dec 2023₹-115 Cr

Mar 2024₹-189 Cr

Jun 2024₹-189 Cr

Sep 2024₹-180 Cr

Dec 2024₹-180 Cr

Mar 2025₹-266 Cr

Jun 2025₹-266 Cr

Sep 2025₹-237 Cr

Dec 2025₹-237 Cr

Mar 2026₹-212 Cr

Jun 2026—

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024₹-199 Cr

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025₹-1.8K Cr

Jun 2025₹-1.8K Cr

Sep 2025₹-1.8K Cr

Dec 2025₹-1.8K Cr

Mar 2026₹-1.5K Cr

Jun 2026₹-1.5K Cr

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹2.5K Cr

Sep 2022—

Dec 2022—

Mar 2023₹2.4K Cr

Jun 2023—

Sep 2023₹2.7K Cr

Dec 2023—

Mar 2024₹898 Cr

Jun 2024₹831 Cr

Sep 2024₹903 Cr

Dec 2024₹903 Cr

Mar 2025₹1.3K Cr

Jun 2025₹1.4K Cr

Sep 2025₹1.3K Cr

Dec 2025₹1.3K Cr

Mar 2026₹1.1K Cr

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024₹4.3K Cr

Sep 2024—

Dec 2024—

Mar 2025₹3.8K Cr

Jun 2025₹3.9K Cr

Sep 2025₹619 Cr

Dec 2025₹619 Cr

Mar 2026₹1.5K Cr

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021₹242 Cr

Dec 2021₹242 Cr

Mar 2022₹212 Cr

Jun 2022₹212 Cr

Sep 2022₹192 Cr

Dec 2022₹192 Cr

Mar 2023₹175 Cr

Jun 2023₹175 Cr

Sep 2023₹171 Cr

Dec 2023₹171 Cr

Mar 2024₹183 Cr

Jun 2024₹183 Cr

Sep 2024₹198 Cr

Dec 2024₹198 Cr

Mar 2025₹178 Cr

Jun 2025₹178 Cr

Sep 2025₹171 Cr

Dec 2025₹171 Cr

Mar 2026₹121 Cr

Jun 2026₹121 Cr

Royal Orchid Hotels Ltd · ROHLTD⚠ unverified

Sep 2021₹119 Cr

Dec 2021₹119 Cr

Mar 2022₹102 Cr

Jun 2022₹102 Cr

Sep 2022₹87 Cr

Dec 2022₹87 Cr

Mar 2023₹87 Cr

Jun 2023₹87 Cr

Sep 2023₹116 Cr

Dec 2023₹116 Cr

Mar 2024₹149 Cr

Jun 2024₹149 Cr

Sep 2024₹166 Cr

Dec 2024₹166 Cr

Mar 2025₹164 Cr

Jun 2025₹164 Cr

Sep 2025₹646 Cr

Dec 2025₹646 Cr

Mar 2026₹563 Cr

Jun 2026—

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022₹2.5K Cr

Sep 2022₹2.6K Cr

Dec 2022—

Mar 2023₹2.6K Cr

Jun 2023₹2.6K Cr

Sep 2023₹1.9K Cr

Dec 2023₹1.9K Cr

Mar 2024₹2.0K Cr

Jun 2024₹2.0K Cr

Sep 2024₹2.0K Cr

Dec 2024₹2.0K Cr

Mar 2025₹2.2K Cr

Jun 2025₹2.2K Cr

Sep 2025₹1.6K Cr

Dec 2025₹1.6K Cr

Mar 2026₹1.7K Cr

Jun 2026—

TajGVK Hotels & Resorts Ltd · TAJGVK

Sep 2021₹214 Cr

Dec 2021₹214 Cr

Mar 2022₹180 Cr

Jun 2022₹180 Cr

Sep 2022₹144 Cr

Dec 2022₹144 Cr

Mar 2023₹103 Cr

Jun 2023₹103 Cr

Sep 2023₹87 Cr

Dec 2023₹87 Cr

Mar 2024₹35 Cr

Jun 2024₹35 Cr

Sep 2024₹12 Cr

Dec 2024₹12 Cr

Mar 2025₹-26 Cr

Jun 2025₹-26 Cr

Sep 2025₹4 Cr

Dec 2025₹4 Cr

Mar 2026₹-21 Cr

Jun 2026—

Viceroy Hotels Ltd · VHLTD⚠ unverified

Sep 2021₹158 Cr

Dec 2021₹158 Cr

Mar 2022₹631 Cr

Jun 2022₹545 Cr

Sep 2022₹499 Cr

Dec 2022₹499 Cr

Mar 2023₹584 Cr

Jun 2023₹584 Cr

Sep 2023₹492 Cr

Dec 2023₹492 Cr

Mar 2024₹149 Cr

Jun 2024₹149 Cr

Sep 2024₹35 Cr

Dec 2024₹35 Cr

Mar 2025₹35 Cr

Jun 2025₹35 Cr

Sep 2025₹6 Cr

Dec 2025₹6 Cr

Mar 2026₹245 Cr

Jun 2026—

06 · compare level, then change

Return On Capital Employed

Travel Food Services Ltd has the highest ROCE among the 24 Hotels companies compared here, at 42.4%. Benares Hotels Ltd is next at 37.3%. HLV Ltd has the highest ROCE change at +10 percentage points, so level and change sit with different companies. 24 of 24 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Travel Food Services Ltd leads ROCE at 42.4%, 5.1 percentage points above Benares Hotels Ltd. HLV Ltd has the strongest latest improvement at +10 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderTravel Food Services Ltd · 42.4%

Gap13.7% versus #2 · Benares Hotels Ltd

PersistenceNot enough history

Coverage24/24 companies · 170 observations

Investor read: Travel Food Services Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Travel Food Services Ltd TRAVELFOOD42%

2Benares Hotels Ltd BENARAS · older report37%

3U P Hotels Ltd UPHOT · older report24%

4EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified21%

5EIH Ltd EIHOTEL21%

ROCE changefastest improvers

1HLV Ltd HLVLTD · older report+10.0 pp

2Asian Hotels (West) Ltd AHLWEST⚠ unverified+8.0 pp

3Chalet Hotels Ltd CHALET+4.3 pp

4Juniper Hotels Ltd JUNIPER+2.2 pp

5Advent Hotels International Ltd ADVENTHTL⚠ unverified+2.1 pp

Return on capital · company comparison

24/24 level · 24/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
Asian Hotels (West) Ltd AHLWEST⚠ unverified	37%	+8.0 pp	Mar 2026
Chalet Hotels Ltd CHALET	16%	+4.3 pp	Mar 2026
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	16%	−3.4 pp	Mar 2026
Oriental Hotels Ltd ORIENTHOT	13%	+0.9 pp	Jun 2026
ITC Hotels Ltd ITCHOTELS	10%	+0.8 pp	Jun 2026
TajGVK Hotels & Resorts Ltd TAJGVK	8.8%	−8.9 pp	Mar 2026
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	8.4%	−7.6 pp	Mar 2026
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	8.0%	−1.7 pp	Mar 2026
Juniper Hotels Ltd JUNIPER	7.8%	+2.2 pp	Mar 2026
Leela Palaces Hotels & Resorts Ltd THELEELA	7.5%	+1.4 pp	Mar 2026
Samhi Hotels Ltd SAMHI	7.5%	−1.5 pp	Mar 2026
Viceroy Hotels Ltd VHLTD⚠ unverified	4.9%	−2.4 pp	Mar 2026
Advent Hotels International Ltd ADVENTHTL⚠ unverified	4.9%	+2.1 pp	Mar 2026
Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified	2.8%	−13.4 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 14 companies with a series here. The remaining 2 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202310%

Jun 2023—

Sep 202312%

Dec 202313%

Mar 202411%

Jun 202413%

Sep 20249.8%

Dec 202413%

Mar 20259.7%

Jun 202512%

Sep 20258.8%

Dec 202510%

Mar 20268.0%

Jun 2026—

Asian Hotels (North) Ltd · ASIANHOTNR⚠ unverified

Sep 2021-1.7%

Dec 2021-77%

Mar 2022-1.4%

Jun 2022-30%

Sep 2022-0.1%

Dec 20220.5%

Mar 20235.3%

Jun 2023—

Sep 20237.7%

Dec 2023—

Mar 20247.2%

Jun 2024—

Sep 20249.7%

Dec 2024—

Mar 202516%

Jun 2025—

Sep 202530%

Dec 2025—

Mar 20262.8%

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021-1.4%

Dec 2021—

Mar 2022-0.2%

Jun 2022—

Sep 20223.2%

Dec 2022—

Mar 20238.9%

Jun 2023—

Sep 202310%

Dec 202310%

Mar 202412%

Jun 202413%

Sep 202412%

Dec 202413%

Mar 202512%

Jun 202518%

Sep 202516%

Dec 202520%

Mar 202616%

Jun 2026—

EIH Associated Hotels Ltd · EIHAHOTELS⚠ unverified

Sep 2021-3.4%

Dec 2021—

Mar 20224.7%

Jun 2022—

Sep 202211%

Dec 2022—

Mar 202318%

Jun 2023—

Sep 202317%

Dec 202323%

Mar 202419%

Jun 202422%

Sep 202420%

Dec 202424%

Mar 202519%

Jun 202524%

Sep 202520%

Dec 202524%

Mar 202616%

Jun 2026—

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-2.7%

Mar 20249.0%

Jun 2024—

Sep 20241,229%

Dec 2024—

Mar 20259.2%

Jun 20259.3%

Sep 20259.4%

Dec 202518%

Mar 20268.3%

Jun 202610%

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20237.6%

Jun 2023—

Sep 202310%

Dec 202311%

Mar 20246.4%

Jun 20247.1%

Sep 20245.7%

Dec 20247.9%

Mar 20255.6%

Jun 20256.7%

Sep 20256.5%

Dec 20257.6%

Mar 20267.8%

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20256.1%

Jun 20258.0%

Sep 20256.9%

Dec 20258.5%

Mar 20267.5%

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021-3.8%

Dec 2021—

Mar 20220.1%

Jun 2022—

Sep 20228.9%

Dec 2022—

Mar 202313%

Jun 2023—

Sep 202312%

Dec 202313%

Mar 20249.2%

Jun 20249.8%

Sep 20247.4%

Dec 20249.7%

Mar 20259.8%

Jun 202512%

Sep 202512%

Dec 202513%

Mar 202612%

Jun 202613%

Royal Orchid Hotels Ltd · ROHLTD⚠ unverified

Sep 2021-1.5%

Dec 2021—

Mar 20224.6%

Jun 2022—

Sep 202218%

Dec 2022—

Mar 202321%

Jun 2023—

Sep 202319%

Dec 202323%

Mar 202418%

Jun 202420%

Sep 202417%

Dec 202419%

Mar 202516%

Jun 202519%

Sep 20258.0%

Dec 202512%

Mar 20268.4%

Jun 2026—

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20222.5%

Dec 2022—

Mar 202312%

Jun 2023—

Sep 20234.4%

Dec 20233.9%

Mar 20246.0%

Jun 20246.8%

Sep 20248.2%

Dec 20249.1%

Mar 20259.0%

Jun 202510%

Sep 20259.0%

Dec 202513%

Mar 20267.5%

Jun 2026—

TajGVK Hotels & Resorts Ltd · TAJGVK

Sep 20212.0%

Dec 2021—

Mar 20226.4%

Jun 2022—

Sep 202219%

Dec 2022—

Mar 202317%

Jun 2023—

Sep 202311%

Dec 202317%

Mar 202417%

Jun 202418%

Sep 202418%

Dec 202421%

Mar 202518%

Jun 202520%

Sep 202517%

Dec 202518%

Mar 20268.8%

Jun 2026—

Viceroy Hotels Ltd · VHLTD⚠ unverified

Sep 2021-9.5%

Dec 2021—

Mar 2022-32%

Jun 2022—

Sep 2022-27%

Dec 2022—

Mar 2023-4.3%

Jun 20230.2%

Sep 2023-4.5%

Dec 2023-2.9%

Mar 2024-2.0%

Jun 2024-0.3%

Sep 20241.6%

Dec 202411%

Mar 20257.3%

Jun 2025—

Sep 20257.3%

Dec 2025—

Mar 20264.9%

Jun 2026—

ROCE change · reported quarter history

Showing the 12 largest of 14 companies with a series here. The remaining 2 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024+0.8 pp

Jun 2024—

Sep 2024−1.7 pp

Dec 2024+0.1 pp

Mar 2025−1.4 pp

Jun 2025−0.7 pp

Sep 2025−1.0 pp

Dec 2025−2.7 pp

Mar 2026−1.7 pp

Jun 2026—

Asian Hotels (North) Ltd · ASIANHOTNR⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.6 pp

Dec 2022+77.6 pp

Mar 2023+6.7 pp

Jun 2023—

Sep 2023+7.8 pp

Dec 2023—

Mar 2024+1.9 pp

Jun 2024—

Sep 2024+2.0 pp

Dec 2024—

Mar 2025+9.0 pp

Jun 2025—

Sep 2025+20.6 pp

Dec 2025—

Mar 2026−13.4 pp

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+4.6 pp

Dec 2022—

Mar 2023+9.1 pp

Jun 2023—

Sep 2023+6.9 pp

Dec 2023—

Mar 2024+2.9 pp

Jun 2024—

Sep 2024+1.6 pp

Dec 2024+2.5 pp

Mar 2025−0.2 pp

Jun 2025+5.6 pp

Sep 2025+4.4 pp

Dec 2025+7.1 pp

Mar 2026+4.3 pp

Jun 2026—

EIH Associated Hotels Ltd · EIHAHOTELS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+14.5 pp

Dec 2022—

Mar 2023+13.3 pp

Jun 2023—

Sep 2023+5.8 pp

Dec 2023—

Mar 2024+1.4 pp

Jun 2024—

Sep 2024+3.1 pp

Dec 2024+1.6 pp

Mar 2025−0.1 pp

Jun 2025+1.3 pp

Sep 2025−0.3 pp

Dec 2025+0.2 pp

Mar 2026−3.4 pp

Jun 2026—

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025+0.2 pp

Jun 2025—

Sep 2025−1,219.7 pp

Dec 2025—

Mar 2026−0.9 pp

Jun 2026+0.8 pp

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024−1.2 pp

Jun 2024—

Sep 2024−4.5 pp

Dec 2024−3.2 pp

Mar 2025−0.8 pp

Jun 2025−0.4 pp

Sep 2025+0.8 pp

Dec 2025−0.3 pp

Mar 2026+2.2 pp

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026+1.4 pp

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+12.7 pp

Dec 2022—

Mar 2023+13.0 pp

Jun 2023—

Sep 2023+3.2 pp

Dec 2023—

Mar 2024−3.9 pp

Jun 2024—

Sep 2024−4.7 pp

Dec 2024−3.1 pp

Mar 2025+0.6 pp

Jun 2025+2.1 pp

Sep 2025+4.6 pp

Dec 2025+3.6 pp

Mar 2026+2.4 pp

Jun 2026+0.9 pp

Royal Orchid Hotels Ltd · ROHLTD⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+19.7 pp

Dec 2022—

Mar 2023+16.7 pp

Jun 2023—

Sep 2023+0.4 pp

Dec 2023—

Mar 2024−3.0 pp

Jun 2024—

Sep 2024−2.1 pp

Dec 2024−4.2 pp

Mar 2025−2.3 pp

Jun 2025−1.0 pp

Sep 2025−8.5 pp

Dec 2025−7.5 pp

Mar 2026−7.6 pp

Jun 2026—

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023+1.9 pp

Dec 2023—

Mar 2024−5.5 pp

Jun 2024—

Sep 2024+3.8 pp

Dec 2024+5.2 pp

Mar 2025+3.0 pp

Jun 2025+3.2 pp

Sep 2025+0.8 pp

Dec 2025+3.7 pp

Mar 2026−1.5 pp

Jun 2026—

TajGVK Hotels & Resorts Ltd · TAJGVK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+16.5 pp

Dec 2022—

Mar 2023+10.5 pp

Jun 2023—

Sep 2023−7.6 pp

Dec 2023—

Mar 2024−0.1 pp

Jun 2024—

Sep 2024+7.1 pp

Dec 2024+4.3 pp

Mar 2025+0.9 pp

Jun 2025+1.6 pp

Sep 2025−1.0 pp

Dec 2025−2.5 pp

Mar 2026−8.9 pp

Jun 2026—

Viceroy Hotels Ltd · VHLTD⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−17.7 pp

Dec 2022—

Mar 2023+27.9 pp

Jun 2023—

Sep 2023+22.7 pp

Dec 2023—

Mar 2024+2.3 pp

Jun 2024−0.5 pp

Sep 2024+6.1 pp

Dec 2024+13.5 pp

Mar 2025+9.3 pp

Jun 2025—

Sep 2025+5.7 pp

Dec 2025—

Mar 2026−2.4 pp

Jun 2026—

07 · compare level, then change

Valuation Against Growth & Quality

Oriental Hotels Ltd has the lowest Guarded PEG among the 24 Hotels companies compared here, at 0.66×. Chalet Hotels Ltd is next at 0.83×. HLV Ltd has the lowest P/E at 2.77×, so level and change sit with different companies. 7 of 24 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Oriental Hotels Ltd has the lowest comparable Guarded PEG at 0.66×, 20.5% below Chalet Hotels Ltd. Only 7 of 24 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderOriental Hotels Ltd · 0.66×

Gap20.5% versus #2 · Chalet Hotels Ltd

Persistence0/8 recent comparable periods

Coverage7/24 companies · 23 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1Oriental Hotels Ltd ORIENTHOT0.7

2Chalet Hotels Ltd CHALET0.8

3ITC Hotels Ltd ITCHOTELS1.2

4Juniper Hotels Ltd JUNIPER1.3

5TajGVK Hotels & Resorts Ltd TAJGVK1.5

P/Elowest P/E

1HLV Ltd HLVLTD · older report2.8

2Asian Hotels (West) Ltd AHLWEST⚠ unverified8.2

3Samhi Hotels Ltd SAMHI9.6

4Kamat Hotels (India) Ltd KAMATHOTEL11.7

5TajGVK Hotels & Resorts Ltd TAJGVK14.6

Valuation · company comparison

7/24 level · 23/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	3.5	26.7	Mar 2026
Leela Palaces Hotels & Resorts Ltd THELEELA	1.7	36.1	Mar 2026
TajGVK Hotels & Resorts Ltd TAJGVK	1.5	15.2	Mar 2026
ITC Hotels Ltd ITCHOTELS	1.2	41.4	Jun 2026
Chalet Hotels Ltd CHALET	0.8	26.1	Mar 2026
Oriental Hotels Ltd ORIENTHOT	0.7	36.4	Jun 2026
Indian Hotels Co Ltd INDHOTEL	—	59.5	Jun 2026
EIH Ltd EIHOTEL	—	23.4	Mar 2026
Travel Food Services Ltd TRAVELFOOD	—	39.3	Mar 2026
Ventive Hospitality Ltd VENTIVE	—	42.0	Mar 2026
Lemon Tree Hotels Ltd LEMONTREE	—	34.6	Mar 2026
Juniper Hotels Ltd JUNIPER	—	28.5	Mar 2026
Samhi Hotels Ltd SAMHI	—	19.1	Mar 2026
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	—	17.5	Mar 2026
Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified	—	-12.6	Mar 2026
Benares Hotels Ltd BENARAS	—	28.7	Dec 2025
Viceroy Hotels Ltd VHLTD⚠ unverified	—	12.2	Mar 2026
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	—	21.3	Mar 2026
U P Hotels Ltd UPHOT	—	27.8	Dec 2025
Advent Hotels International Ltd ADVENTHTL⚠ unverified	—	0.0	Mar 2026
Asian Hotels (West) Ltd AHLWEST⚠ unverified	—	87.9	Mar 2026
Sayaji Hotels Ltd SAYAJIHOTL	—	33.9	Mar 2026
Kamat Hotels (India) Ltd KAMATHOTEL	—	14.4	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20241.1

Dec 2024—

Mar 20251.5

Jun 20251.0

Sep 20250.7

Dec 20252.0

Mar 20263.5

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20255.1

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.8

Jun 2026—

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20251.3

Sep 2025—

Dec 2025—

Mar 2026—

Jun 20261.2

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20261.7

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.8

Jun 2024—

Sep 20242.4

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20251.2

Dec 20251.0

Mar 20260.7

Jun 2026—

TajGVK Hotels & Resorts Ltd · TAJGVK

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20232.8

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.5

Mar 20250.6

Jun 20250.8

Sep 20251.5

Dec 20250.8

Mar 20261.5

Jun 2026—

P/E · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202469.0

Jun 202465.2

Sep 202453.8

Dec 202450.1

Mar 202541.4

Jun 202541.3

Sep 202532.2

Dec 202532.3

Mar 202626.7

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-569.5

Sep 2022401.1

Dec 2022284.9

Mar 202380.9

Jun 202359.2

Sep 202354.9

Dec 202362.2

Mar 202474.9

Jun 202459.3

Sep 202474.1

Dec 2024254.3

Mar 2025210.7

Jun 202567.8

Sep 2025147.8

Dec 2025133.9

Mar 202626.1

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022267.6

Dec 202288.2

Mar 202344.5

Jun 202336.8

Sep 202334.1

Dec 202334.1

Mar 202451.3

Jun 202441.6

Sep 202437.4

Dec 202438.1

Mar 202531.4

Jun 202529.5

Sep 202529.9

Dec 202530.1

Mar 202623.4

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022232.0

Dec 2022103.8

Mar 202363.1

Jun 202358.2

Sep 202355.8

Dec 202356.6

Mar 202471.8

Jun 202471.6

Sep 202478.7

Dec 202485.5

Mar 202571.8

Jun 202572.5

Sep 202558.9

Dec 202562.4

Mar 202646.6

Jun 202659.5

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202551.6

Jun 202572.9

Sep 202574.8

Dec 202536.3

Mar 202636.1

Jun 202641.4

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024483.9

Jun 2024395.6

Sep 2024191.7

Dec 2024218.5

Mar 202588.2

Jun 202588.1

Sep 202584.0

Dec 202546.3

Mar 202628.5

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025102.8

Sep 202553.6

Dec 202541.5

Mar 202636.1

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023133.2

Jun 202364.6

Sep 202372.5

Dec 202373.1

Mar 202482.6

Jun 202477.1

Sep 202466.6

Dec 202477.9

Mar 202556.8

Jun 202555.9

Sep 202561.0

Dec 202558.1

Mar 202634.6

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021—

Dec 2021-26.6

Mar 2022-55.8

Jun 202285.1

Sep 2022114.1

Dec 202248.1

Mar 202341.9

Jun 202329.4

Sep 202329.3

Dec 202345.4

Mar 202440.3

Jun 202449.9

Sep 202479.4

Dec 202474.0

Mar 202565.3

Jun 202567.8

Sep 202550.0

Dec 202536.9

Mar 202627.8

Jun 202636.4

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-19.7

Jun 2024-28.6

Sep 2024-95.4

Dec 2024151.3

Mar 202562.9

Jun 202544.9

Sep 202536.5

Dec 202529.4

Mar 202619.1

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 202548.1

Dec 202542.6

Mar 202639.3

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20254.5

Jun 2025129.8

Sep 2025142.9

Dec 202577.0

Mar 202642.0

Jun 2026—

08 · compare level, then change

Enterprise Value & Book Value

Kamat Hotels (India) Ltd has the lowest EV/EBITDA among the 24 Hotels companies compared here, at 6.9×. Asian Hotels (West) Ltd is next at 7.21×. Advent Hotels International Ltd has the lowest P/BV at 0.85×, so level and change sit with different companies. 24 of 24 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Kamat Hotels (India) Ltd leads ev/ebitda at 6.9×; Advent Hotels International Ltd leads p/bv at 0.85×.

LeaderKamat Hotels (India) Ltd · 6.9×

Gap4.3% versus #2 · Asian Hotels (West) Ltd

Persistence0/8 recent comparable periods

Coverage24/24 companies · 312 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1Kamat Hotels (India) Ltd KAMATHOTEL6.9

2Asian Hotels (West) Ltd AHLWEST⚠ unverified7.2

3Samhi Hotels Ltd SAMHI9.8

4Apeejay Surrendra Park Hotels Ltd PARKHOTELS10.4

5Advent Hotels International Ltd ADVENTHTL⚠ unverified11.0

P/BVlowest P/BV

1Advent Hotels International Ltd ADVENTHTL⚠ unverified0.9

2HLV Ltd HLVLTD · older report1.0

3Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified1.4

4Juniper Hotels Ltd JUNIPER1.5

5Kamat Hotels (India) Ltd KAMATHOTEL1.6

Enterprise and book valuation · company comparison

24/24 level · 23/24 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
Asian Hotels (North) Ltd ASIANHOTNR⚠ unverified	49.4	2.1	Mar 2026
Sayaji Hotels Ltd SAYAJIHOTL	33.4	3.6	Mar 2026
Indian Hotels Co Ltd INDHOTEL	30.1	7.9	Jun 2026
Viceroy Hotels Ltd VHLTD⚠ unverified	26.8	3.9	Mar 2026
Travel Food Services Ltd TRAVELFOOD	22.5	14.0	Mar 2026
ITC Hotels Ltd ITCHOTELS	21.3	3.4	Jun 2026
Oriental Hotels Ltd ORIENTHOT	18.9	3.6	Jun 2026
Benares Hotels Ltd BENARAS	18.0	6.8	Dec 2025
Leela Palaces Hotels & Resorts Ltd THELEELA	17.9	2.2	Mar 2026
U P Hotels Ltd UPHOT	15.9	4.7	Dec 2025
Chalet Hotels Ltd CHALET	15.1	4.6	Mar 2026
Lemon Tree Hotels Ltd LEMONTREE	15.1	6.7	Mar 2026
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	13.8	3.3	Mar 2026
EIH Ltd EIHOTEL	13.7	3.8	Mar 2026
Juniper Hotels Ltd JUNIPER	13.5	1.6	Mar 2026
Ventive Hospitality Ltd VENTIVE	13.3	2.8	Mar 2026
TajGVK Hotels & Resorts Ltd TAJGVK	12.5	2.8	Mar 2026
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	11.1	3.3	Mar 2026
Advent Hotels International Ltd ADVENTHTL⚠ unverified	11.0	0.8	Mar 2026
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	10.4	1.7	Mar 2026
Samhi Hotels Ltd SAMHI	9.8	1.7	Mar 2026
Asian Hotels (West) Ltd AHLWEST⚠ unverified	7.2	-2.0	Mar 2026
Kamat Hotels (India) Ltd KAMATHOTEL	6.9	1.6	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202426.3

Jun 202425.0

Sep 202417.8

Dec 202418.5

Mar 202514.7

Jun 202515.2

Sep 202514.2

Dec 202513.8

Mar 202610.4

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 2021175.2

Dec 2021105.3

Mar 202294.7

Jun 202269.0

Sep 202242.3

Dec 202235.3

Mar 202326.3

Jun 202322.5

Sep 202328.0

Dec 202331.3

Mar 202436.5

Jun 202433.5

Sep 202434.9

Dec 202435.5

Mar 202529.9

Jun 202538.2

Sep 202530.6

Dec 202527.9

Mar 202615.1

Jun 2026—

EIH Ltd · EIHOTEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 202249.7

Dec 202233.0

Mar 202321.9

Jun 202319.4

Sep 202318.0

Dec 202318.5

Mar 202429.1

Jun 202424.8

Sep 202421.9

Dec 202422.7

Mar 202518.8

Jun 202518.1

Sep 202518.4

Dec 202518.2

Mar 202613.7

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 2021—

Dec 2021—

Mar 202289.3

Jun 202266.2

Sep 202245.2

Dec 202236.1

Mar 202330.1

Jun 202330.7

Sep 202330.3

Dec 202330.8

Mar 202439.1

Jun 202439.0

Sep 202443.1

Dec 202448.7

Mar 202540.7

Jun 202537.2

Sep 202532.5

Dec 202533.3

Mar 202625.9

Jun 202630.1

ITC Hotels Ltd · ITCHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202531.5

Jun 202534.6

Sep 202534.0

Dec 202527.5

Mar 202618.0

Jun 202621.3

Juniper Hotels Ltd · JUNIPER

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202448.1

Jun 202436.8

Sep 202428.1

Dec 202425.6

Mar 202519.3

Jun 202519.5

Sep 202520.5

Dec 202517.8

Mar 202613.5

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202524.8

Sep 202519.3

Dec 202519.6

Mar 202617.9

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 202179.5

Dec 202165.1

Mar 202252.2

Jun 202252.2

Sep 202240.8

Dec 202231.9

Mar 202324.1

Jun 202321.0

Sep 202323.7

Dec 202324.6

Mar 202425.5

Jun 202425.6

Sep 202422.2

Dec 202424.9

Mar 202520.4

Jun 202520.9

Sep 202523.0

Dec 202522.3

Mar 202615.1

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 2021—

Dec 202148.9

Mar 202257.0

Jun 202239.5

Sep 202221.8

Dec 202216.7

Mar 202316.1

Jun 202314.4

Sep 202314.2

Dec 202320.4

Mar 202419.4

Jun 202424.3

Sep 202434.9

Dec 202432.9

Mar 202526.6

Jun 202525.1

Sep 202520.0

Dec 202515.2

Mar 202612.2

Jun 202618.9

Samhi Hotels Ltd · SAMHI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202322.6

Dec 202321.3

Mar 202424.4

Jun 202423.7

Sep 202419.6

Dec 202417.0

Mar 202513.0

Jun 202516.0

Sep 202515.1

Dec 202512.5

Mar 20269.8

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 202526.2

Dec 202523.2

Mar 202622.5

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 202556.7

Jun 202522.4

Sep 202519.6

Dec 202517.9

Mar 202613.3

Jun 2026—

P/BV · reported quarter history

Showing the 12 largest of 23 companies with a series here. The remaining 11 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Apeejay Surrendra Park Hotels Ltd · PARKHOTELS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20243.4

Jun 20243.2

Sep 20243.1

Dec 20243.1

Mar 20252.5

Jun 20252.9

Sep 20252.5

Dec 20252.2

Mar 20261.7

Jun 2026—

Chalet Hotels Ltd · CHALET

Sep 20213.1

Dec 20213.2

Mar 20224.5

Jun 20224.4

Sep 20225.2

Dec 20225.1

Mar 20235.5

Jun 20236.6

Sep 20237.4

Dec 20238.5

Mar 202410.7

Jun 202410.7

Sep 20249.9

Dec 20247.7

Mar 20256.3

Jun 202510.1

Sep 20256.9

Dec 20255.5

Mar 20264.6

Jun 2026—

EIH Ltd · EIHOTEL

Sep 20212.5

Dec 20212.6

Mar 20223.1

Jun 20222.5

Sep 20223.7

Dec 20223.5

Mar 20233.4

Jun 20234.4

Sep 20234.1

Dec 20234.5

Mar 20248.0

Jun 20248.0

Sep 20246.0

Dec 20246.3

Mar 20255.4

Jun 20255.7

Sep 20255.1

Dec 20254.9

Mar 20263.8

Jun 2026—

Indian Hotels Co Ltd · INDHOTEL

Sep 20216.3

Dec 20217.3

Mar 20229.2

Jun 20224.6

Sep 20226.5

Dec 20226.3

Mar 20236.5

Jun 20237.0

Sep 20237.3

Dec 20237.5

Mar 202410.2

Jun 20249.4

Sep 202410.7

Dec 202412.1

Mar 202511.0

Jun 20259.8

Sep 20259.1

Dec 20259.1

Mar 20267.3

Jun 20267.9

ITC Hotels Ltd · ITCHOTELS

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Mar 20253.8

Jun 20254.3

Sep 20254.5

Dec 20253.7

Mar 20262.7

Jun 20263.4

Juniper Hotels Ltd · JUNIPER

Sep 2021—

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Mar 20244.3

Jun 20243.5

Sep 20243.1

Dec 20242.9

Mar 20252.1

Jun 20252.4

Sep 20252.4

Dec 20252.1

Mar 20261.6

Jun 2026—

Leela Palaces Hotels & Resorts Ltd · THELEELA

Sep 2021—

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Jun 20253.8

Sep 20252.2

Dec 20252.4

Mar 20262.2

Jun 2026—

Lemon Tree Hotels Ltd · LEMONTREE

Sep 20213.5

Dec 20214.3

Mar 20225.6

Jun 20225.4

Sep 20228.1

Dec 20228.0

Mar 20237.4

Jun 20238.9

Sep 202310.6

Dec 202311.0

Mar 202412.0

Jun 202413.4

Sep 202410.0

Dec 202411.7

Mar 202510.0

Jun 202511.4

Sep 202511.3

Dec 202510.3

Mar 20266.7

Jun 2026—

Oriental Hotels Ltd · ORIENTHOT

Sep 20211.4

Dec 20212.9

Mar 20224.5

Jun 20222.2

Sep 20222.8

Dec 20222.7

Mar 20233.2

Jun 20232.9

Sep 20232.8

Dec 20234.0

Mar 20243.8

Jun 20244.0

Sep 20245.2

Dec 20244.9

Mar 20254.0

Jun 20254.3

Sep 20253.5

Dec 20252.6

Mar 20262.2

Jun 20263.6

Samhi Hotels Ltd · SAMHI

Sep 2021—

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Sep 20233.0

Dec 20233.4

Mar 20244.3

Jun 20244.0

Sep 20244.3

Dec 20244.1

Mar 20252.9

Jun 20254.6

Sep 20253.9

Dec 20252.3

Mar 20261.7

Jun 2026—

Travel Food Services Ltd · TRAVELFOOD

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Dec 202513.0

Mar 202614.0

Jun 2026—

Ventive Hospitality Ltd · VENTIVE

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Jun 20253.3

Sep 20253.5

Dec 20253.6

Mar 20262.8

Jun 2026—

09 · let price answer last

Market action

Viceroy Hotels Ltd has the strongest one-year price move in Hotels at +21.3%. Asian Hotels (West) Ltd leads on Mansfield relative strength against NIFTY at +59.6%. 6 of 23 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Hotels comparison names 7 specific ways its own evidence can mislead, all listed below. 3 of the 24 companies report on an older date than the sector's freshest reporters, so their ranks are marked stale. 6 draw at least one figure from a second feed with too little overlap to cross-check.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
3 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.
6 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
5 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.

10 · the complete set

Which companies are included?

All 24 companies in the canonical Hotels membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. 2 of these are no longer being priced, so their price and relative strength are frozen at the last traded week shown.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals	Source standing
Indian Hotels Co Ltd INDHOTELAHEAD	₹1.0 L Cr	₹727	2026-07-19	Jun 2026	Second feed withheld
ITC Hotels Ltd ITCHOTELSLAGGING, FUNDAMENTALS UP	₹33.3K Cr	₹160	2026-07-19	Jun 2026	Cross-checked
EIH Ltd EIHOTEL	₹20.4K Cr	₹326	2026-07-19	Mar 2026	Second feed withheld
Chalet Hotels Ltd CHALET	₹17.8K Cr	₹814	2026-07-19	Mar 2026	Cross-checked
Travel Food Services Ltd TRAVELFOOD	₹16.9K Cr	₹1,286	2026-07-19	Mar 2026	Second feed withheld
Leela Palaces Hotels & Resorts Ltd THELEELAAHEAD19/26 WEEKS	₹15.9K Cr	₹475	2026-07-19	Mar 2026	Cross-checked
Ventive Hospitality Ltd VENTIVE	₹14.4K Cr	₹618	2026-07-19	Mar 2026	Second feed withheld
Lemon Tree Hotels Ltd LEMONTREE	₹8.7K Cr	₹109	2026-07-19	Mar 2026	Second feed withheld
Juniper Hotels Ltd JUNIPERLAGGING, FUNDAMENTALS UP	₹4.3K Cr	₹193	2026-07-19	Mar 2026	Cross-checked
Samhi Hotels Ltd SAMHIAHEADLAGGING, FUNDAMENTALS UP	₹3.9K Cr	₹178	2026-07-19	Mar 2026	Cross-checked
Apeejay Surrendra Park Hotels Ltd PARKHOTELS	₹2.6K Cr	₹122	2026-07-19	Mar 2026	Cross-checked
Oriental Hotels Ltd ORIENTHOTAHEAD	₹2.4K Cr	₹135	2026-07-19	Jun 2026	Cross-checked
TajGVK Hotels & Resorts Ltd TAJGVKAHEAD	₹2.3K Cr	₹360	2026-07-19	Mar 2026	Cross-checked
EIH Associated Hotels Ltd EIHAHOTELS⚠ unverified	₹1.9K Cr	₹311	2026-07-19	Mar 2026	Includes unverified figures
Asian Hotels (North) Ltd ASIANHOTNRAHEAD⚠ unverified	₹1.3K Cr	₹307	2026-07-19	Mar 2026	Includes unverified figures
Benares Hotels Ltd BENARAS	₹1.2K Cr	₹9,511	2026-03-08 · not currently priced	Dec 2025	Primary source only
Viceroy Hotels Ltd VHLTD⚠ unverified	₹892 Cr	₹132	2026-07-19	Mar 2026	Includes unverified figures
Royal Orchid Hotels Ltd ROHLTD⚠ unverified	₹853 Cr	₹311	2026-07-19	Mar 2026	Includes unverified figures
U P Hotels Ltd UPHOT	₹777 Cr	₹1,440	2026-03-08 · not currently priced	Dec 2025	Primary source only
Advent Hotels International Ltd ADVENTHTL⚠ unverified	₹768 Cr	₹142	2026-07-19	Mar 2026	Includes unverified figures
Asian Hotels (West) Ltd AHLWEST⚠ unverified	₹670 Cr	₹575	2026-07-19	Mar 2026	Includes unverified figures
Sayaji Hotels Ltd SAYAJIHOTL	₹525 Cr	₹300	2026-07-19	Mar 2026	Primary source only
Kamat Hotels (India) Ltd KAMATHOTEL	₹499 Cr	₹169	2026-07-19	Mar 2026	Primary source only
HLV Ltd HLVLTD	₹473 Cr	₹7.2	2026-07-19	Mar 2020	Primary source only

How each company's sources stand: 6 of 24 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 5 of 24 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Indian Hotels Co Ltd (INDHOTEL) — its two data sources disagree by up to 10% on reported income across 14 comparable periods, so its derived ratios are withheld; EIH Ltd (EIHOTEL) — its two data sources disagree by up to 6.2% on reported income across 14 comparable periods, so its derived ratios are withheld; Travel Food Services Ltd (TRAVELFOOD) — its two data sources disagree by up to 6.8% on reported income across 8 comparable periods, so its derived ratios are withheld; Ventive Hospitality Ltd (VENTIVE) — its two data sources disagree by up to 35% on reported income across 10 comparable periods, so its derived ratios are withheld; Lemon Tree Hotels Ltd (LEMONTREE) — its two data sources disagree by up to 25% on reported income across 14 comparable periods, so its derived ratios are withheld.

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 24 Hotels companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-24 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing8 cross-checked · 11 unverified · 5 withheld, of 24 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

Hotels company comparison FAQs

These 18 answers restate the Hotels comparison above in question form. Every one is computed from the same 24 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty Hotels index?

The Nifty Hotels index tracks India's listed Hotels companies as a single basket. This page follows the same 24 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Hotels sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Hotels stocks in India?

Ranked by this page's four-factor score, Chalet Hotels Ltd places first among 24 listed Hotels companies, followed by Travel Food Services Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Hotels stocks are listed in India?

This comparison covers 24 listed Hotels companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Hotels company is the biggest?

Indian Hotels Co Ltd is the largest, with trailing-twelve-month revenue of ₹9,987 crore, ahead of ITC Hotels Ltd at ₹4,260 crore. That covers 24 of 24 companies with comparable reporting through Jun 2026.

Which Hotels company is growing fastest?

Asian Hotels (North) Ltd has the fastest revenue growth at 81.1% year on year, across 23 of 24 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Hotels company has the best profit margins?

Leela Palaces Hotels & Resorts Ltd has the highest operating margin at 55%, from 24 of 24 comparable companies. Sayaji Hotels Ltd shows the biggest recent improvement, at +12 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Hotels company makes the most profit?

Indian Hotels Co Ltd earns the most, at ₹2,308 crore of trailing-twelve-month net profit, from 24 of 24 comparable companies. Asian Hotels (North) Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Hotels company earns the highest return on capital?

Travel Food Services Ltd leads on return on capital employed at 42.4%, across 24 of 24 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Hotels stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Oriental Hotels Ltd screens cheapest at 0.66×. Only 7 of 24 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Hotels company has the strongest balance sheet?

U P Hotels Ltd carries the lowest comparable gross debt at ₹0 crore, from 24 of 24 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Hotels stock has the strongest price momentum?

Asian Hotels (West) Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Hotels company scores highest for research priority?

Chalet Hotels Ltd scores 74.3 out of 100 with 89.6% evidence confidence, from 28.4 points on growth and earnings, 15.6 on capital efficiency, 17.7 on valuation and 12.6 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Hotels companies does this comparison cover, and over what period?

It compares 24 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Hotels sector?

The 24 Hotels companies on this page carry ₹2,56,401 crore of combined market value. Indian Hotels Co Ltd is the largest at ₹1,03,548 crore, about 40% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

What is the Hotels sector's P/E ratio?

The median price-to-earnings ratio across the 24 Hotels companies on this page is 28.1×, measured on the 23 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

How is the Hotels sector performing?

6 of the 23 covered Hotels companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.