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Review : 2024-2025 Q4FY25 & FY25 Results Q4 & FY25 Results 15th May 2025 1
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Review : 2024-2025 Q4FY25 & FY25 Results Disclaimer This presentation contains certain forward-looking statements including those describing the Company’s strategies, strategic direction, objectives, future prospects, estimates etc. Investors are cautioned that “forward looking statements” are based on certain assumptions of future events over which the Company exercises no control. Therefore there can be no guarantee as to their accuracy and readers are advised not to place any undue reliance on these forward looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. These statements involve a number of risks, uncertainties and other factors that could cause actual results or positions to differ materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but are not limited to: growth, competition, acquisitions, domestic and international economic conditions affecting demand, supply and price conditions, changes in Government regulations, tax regimes and other statutes, and the ability to attract and retain high quality human resource. 2
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Review : 2024-2025 Launched in 1975, we are India’s Pre-eminent Hospitality Chain, embodying the essence of Indian Hospitality & Sustainability 140+ Hotels 90 + Destinations Strong Sustainability Credentials 6 Distinct Hotel Brands Robust operational performance Strong partnerships Iconic F&B Cuisine and Brands 13,300+ Keys ITC Hotels Limited at a glance ITC Grand Bharat
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Q4FY25 & FY25 Results Pan India Presence By 2030 220 Hotels 20,000+ Keys (Owned / Managed Mix By % Keys : 30% / 70%) Current Operating Footprint 140+ Hotels 13,300+ Keys (Owned / Managed Mix By % Keys : 42% / 58% ) 7 6 5 5 3 6 7 3 6 1 5 9 6 2 10 5 2 1 4 2 2 2 6 5 1 1 1 19 15 13 13 10 Existing Hotels Hotels in pipeline 1 1 1 2 Status as on 31st Mar ’25| Managed portfolio includes hotels under franchise model 2 1 1 1 4
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Review : 2024-2025 18 Hotels, 5000 Keys 35 Hotels, 3300 Keys 56 Hotels, 4100 Keys Status as on 31st Mar ’25 | Figures rounded off to nearest 100 37% 25% Well Balanced Hotels Portfolio 7% 34 Hotels, 1000 Keys 31% 5
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to be awarded with India’s 1 st Hotel Chain USGBC Leadership Award for Organizational Excellence 2024 Trailblazer in Responsible Luxury 6
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77 Macro-Economic Environment 7ITC Maurya
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Review : 2024-2025 8Source: IMF, Horwath HTL, Analyst Reports India’s Decade of Outperformance Growing Affluence & Societal Aspirations 8 3.2 3.6 3.9 4.0 4.7 18.7 29.2 0.0 5.0 10. 0 15. 0 20. 0 25. 0 30. 0 35. 0 France UK India Japan Germany China Unite d States USA China India Germany Japan UK France GDP in USD trillion 2024 2028 USA China Japan India Germany UK France Fastest Growing Large Economy 3.5 4.4 4.7 5.3 5.6 23.1 34.3 0.0 5.0 10. 0 15. 0 20. 0 25. 0 30. 0 35. 0 40. 0 France Unite d Kingdom Japan Germany India China Unite d States 18% 21% 28% 31% 36% 43% 53% 1960 1975 2000 2011 2024 2035E 2050E Urban population as % of total population Rapid Urbanization 2361 2547 2711 2878 3136 3426 3744 4089 4.9% 7.9% 6.4% 6.2% 9.0% 9.2% 9.3% 9.2% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 0 5000 FY23 FY24E FY25E FY26E FY27E FY28E FY29E FY30E GDP per Capita (US$) Growth% Rising incomes → Higher discretionary spending Affluent Households to grow 2.5x
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Review : 2024-2025 9 Hospitality Industry in a Strong Upcycle 16769 12237 10129 7150 4032 2846 1489 270 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 US Australia UK Japan Thailand China Indonesia India Average: 6865 Keys per million population 5684 6053 7391 7951 64% 59% 62% 64% 2019 2022 2023 2024 ARR Occ% Strong recovery in Indian Hospitality Sector remains significantly under penetrated Source: Horwath HTL, DGCA, Analyst Reports Industry poised for Growth 6.3% 9.1% 7.4% 10.5% FY 15-24 FY 24-29 Supply CAGR Demand CAGR Demand expected to remain well ahead of supply Domestic Air passengers traffic +12% over 2019 144 152 161 CY19 CY23 CY24 Passengers In Mn 9
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1010 Key Performance Highlights 10ITC Kohenur
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Q4FY25 & FY25 Results Key Highlights • Full Year: Total Revenue at ₹ 3333 cr. and PATat ₹ 698 cr. • Q4: Total Revenue at ₹ 1017 cr. up 17% and PATat ₹ 264 cr. up 44% • 54 signings and 30 Hotel openings in last 24 months; robust pipeline across brands Record high performance; Highest ever Revenue and Profits • First Indian Hotel Chain to receive “USGBC Leadership Award for Organizational Excellence”. • World’s First 8 LEED Zero Water Hotels. 4 new hotels added during the year. Trailblazer in Responsible Luxury First International Hotel → ITC Ratnadipa, Colombo • Successful opening & EBITDA positive in H2 • Travel + Leisure Awards 2024 – International Hotels – Best New Hotel / Resort • Seamless transition for all Stakeholders • Listing on Stock Exchanges with current market capitalization of over ₹ 40,000 Cr. Demerger & Successful Listing ITC Ratnadipa 11
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Q4FY25 & FY25 Results Record High Q4 Revenue & Profits Total Revenue Optg. EBITDA PAT PAT Margin Optg. EBITDA Margin Standalone Financials Figures for previous year includes Hotels Business of ITC Ltd. to facilitate like-for-like comparison ₹ 395 Cr 24% ₹ 264 Cr 44% ₹ 1017 Cr 17% 40% 350 bps 26% 490 bps ITC Grand Bharat, Gurugram Avartana, ITC Maurya Avartana, ITC Maurya 12 Mementos Ekaaya, Udaipur ITC Sonar
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Q4FY25 & FY25 Results Stellar FY25 Performance Total Revenue Optg. EBITDA PAT ROCE# Optg. EBITDA Margin # Properties with at least 5 years of operationsStandalone Financials ₹ 1,189 Cr ₹ 698 Cr ₹ 3,333 Cr 36% 21%# PAT Margin 21% 13 ITC Grand Bharat, Gurugram Avartana, ITC Maurya Avartana, ITC Maurya Dum Pukht Begum, ITC Kohenur
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Q4FY25 & FY25 Results Performance Metrics : Owned Hotels Enhanced Returns 8,000 10,000 12,000 12,500 5,200 6,900 8,200 9,100 65% 69% 69% 73% FY20 FY23 FY24 FY25 ARR RevPAR Occupancy ARR, RevPAR and Occupancy (%) Revenue segmentation 46% 51% 52% 52% 45% 42% 40% 40% 9% 7% 8% 8% FY20 FY23 FY24 FY25 Room F&B OthersOwned Keys 4,826 5330 5291 5291 Rounded off values Domestic Hotels 14
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Q4FY25 & FY25 Results India Hyderabad Ahmedabad Chennai Agra New Delhi Kolkata Bengaluru Industry (Luxury, Upper Upscale, Upscale) ITC Hotels +73% +53% +49% +20% +48% +30% Data for April’24 to March’25 (for Owned Hotels) Source: CoStar Superior RevPAR Premium +20% +16% 30% RevPAR Premium over Industry 15
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Q4FY25 & FY25 Results ITC Ratnadipa : A Jewel in Colombo’s Skyline One of its Kind Mixed Use Development 352 Keys Hotel + Retail Spaces + Residences ITC Ratnadipa, Colombo Q1 Q2 Q3 Q4 x 1.4x 1.8x 1.9x EBITDA Positive in H2 FY25 RevPAR in LKR Strong Q-o-Q RevPAR growth 16
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Review : 2024-2025 3 9 11 14 16 FY21 FY22 FY23 FY24 FY25 Record Signings & Openings 8 16 16 24 30 FY21 FY22 FY23 FY24 FY25 New Hotel Signings New Hotel Openings 54 Hotels Signed & 30 Hotels opened in last 2 Years 17
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Review : 2024-2025 Recent Openings Mementos Jaipur Welcomhotel Jabalpur Welcomhotel Belagavi Welcomhotel Delhi – Gurugram Highway ENRICHING EXPERIENCES AWAIT MEMORIES AVAILABLE
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Review : 2024-2025 EVERY STAY IS A NEW STORY Storii Jaisalmer Storii Devasom, Kolkata Storii Urvashi’s Retreat, Manali Recent Openings WelcomHeritage Natraj, Mcleodganj
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Review : 2024-2025 Recent Openings Fortune Resort Bhaktapur, Nepal Fortune Statue of Unity, Ekta Nagar Fortune Beachfront, Puri Fortune Select Candolim, Goa
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Review : 2024-2025 89 96 110 118 FY22 FY23 FY24 FY25 5,700 6,200 7,000 7,700 FY22 FY23 FY24 FY25 1.4x Strong Ramp-up of Managed Portfolio No. of Operational KeysNo. of Operational Hotels Accelerated traction in scaling up Managed Portfolio Managed portfolio includes hotels under franchise model 1.3x Keys rounded off to nearest 100 21 Sharpened Focus | Dedicated Teams
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Review : 2024-2025 Signature Cuisine Brands Robust Double Digit Y-o-Y growth in F&B Revenue 22
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Review : 2024-2025 New Restaurant Openings & Concept Launches Avartana, ITC Maurya The Royal Afghan, ITC Grand Bharat Cajsa, ITC Gardenia Avartana, ITC Ratnadipa Islander, ITC Ratnadipa
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Review : 2024-2025 Global Exemplar in Sustainability 23 LEED Platinum® certified Hotels Largest hotel chain in the world to achieve this feat World's first 12 Hotels to receive LEED ® Zero Carbon Certification World's first 8 Hotels to receive LEED ® Zero Water Certification (4 Hotels added in FY25) USGBC Leadership Award for Organizational Excellence 2024 Surpassed 2030 GHG sectoral emission targets set as per COP 21 Integrating Luxury with Sustainability More than 50% electricity consumption through renewable sources 24
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Review : 2024-2025 Key Awards & Accolades HOT LIST 2024 Condé Nast Traveler GOLD LIST 2024 Welcomhotel Mussoorie Condé Nast Traveler First Indian Hotel chain to receive Leadership Award for Organizational Excellence 2024 ITC Ratnadipa US Green Building Council (USGBC) LEED Platinum certification by USGBC 2024 LEED CERTIFICATION #1 Avartana 2024 Condé Nast Traveler TOP Restaurant Awards Best Bleisure Hotel 2024 ITC Grand Chola 2024 ITC Maurya Best New Hotel/Resort (International Category) 2024 ITC Ratnadipa Travel + Leisure India's Best Awards Best Service 2024 Travel + Leisure Delicious Dining Awards Best Luxury Hotel Chain 2024 ITC Hotels Other notable awards CII National Energy Efficiency Circle Competition ITC Royal Bengal Best Energy Efficient Commercial Buildings/ Hotels, 2024 Condé Nast Traveler Readers' Travel Awards 2024 ITC Maratha Favorite Hotel for Sustainable Practices Conde Nast Traveler Readers’ Travel Awards 2024 Bukhara, ITC Maurya Favorite Restaurant in an Indian Hotel Culinary Culture Ultimate Restaurant Ratings 2024 Avartana (Chennai & Kolkata) Bukhara & Dum Pukht (Delhi) also included ITC Hotels Best Luxury Hotel Mementos Udaipur ITC HotelsITC Grand Chola 25
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2626 Operational Excellence 26
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Review : 2024-2025 Operational Excellence Payroll Cost^ (% of Revenue from Ops) Other Operating Cost (% of Revenue from Ops) Gross Food Cost (% of F&B Revenue) Energy Cost (% of Revenue from Ops) Significantly lower Vs. Peers on a Cost per Key basis Driving Margin Expansion Productivity | Efficiency ^including Payment to Contracts Standalone financials 27% 24% FY20 FY24 FY25 28% 21% FY20 FY24 FY25 7% 5% FY20 FY24 FY25 30% 28% FY20 FY24 FY25 27
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Review : 2024-2025 Operational Excellence Listen & Respond 98.98% Online Ratings Leadership position maintained High Customer Satisfaction Rating 98% Active feedback monitoring Response Rate 4.73 Superior Guest Experience One of the Best NPS scores in the Industry High Customer Satisfaction Rating 80 (*Global Average 57) Data for FY 2024-25; Global NPS average is for calendar year 2024 Data source: Revinate | for ITC Hotels & Welcomhotels High NPS Score & Response Rate 28
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2929 Key Growth Enablers 29 ITC Grand Goa 29
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30 30 Strategic Pillars CONTINUED INVESTMENT TO ENHANCE BRAND EQUITY ASSET RIGHT DIGITAL FIRST SUSTAINABILITY EMPLOYER OF CHOICE Key Differentiators ■ Indigenous Experiences ■ Signature cuisines ■ Responsible Luxury ■ World Class Loyalty Programs – Club ITC & Club ITC Culinaire ■ Bouquet of brands catering to relevant need spaces ■ Target to achieve 70% Managed portfolio share in next 5 years ■ Smart Revenue Management ■ Customer intimacy ■ Productivity and efficiency ■ Sweating existing assets ■ Augment new revenue streams ■ Extreme Cost and Margin focus ■ Strong Talent Pool ■ Robust L&D programmes ■ D & I amongst best in industry 30
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31 31 Driving Capital Efficient Growth ► Significant headroom to drive RevPar growth ► About 25%* Inventory < 5 years old, operating at <70% Occupancy ► ITC Ratnadipa, Colombo → significant contributor to Revenue & EBITDA going forward Owned Hotels ► 400+ rooms being planned under Owned Hotels ► Greenfield project at Puri; Expansion at Bhubaneshwar ► New 200 key hotel planned at Vizag ► Leverage strategic land bank Upcoming projects ► Increased interest among Asset Owners ► Robust pipeline of 49 Managed Hotels with 4300+ Keys ► 2.5x growth targeted in Management Fees by FY30 Managed Hotels Welcomhotel Puri Welcomhotel Bhubaneshwar 118 Keys by FY28 100+ Keys 12k sqft. banquets expansion *Includes ITC Ratnadipa operational from April 2025 31
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32 32 Unlocking Full Potential of Recent Launches Significant headroom for growth About 25% Inventory operating at <70% Occupancy levels ITC Narmada (FY23) ITC Royal Bengal (FY20) WH Bhubaneswar (FY22) ITC Ratnadipa (FY25) Significant contributor to Revenue & EBITDA in the years ahead 32
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33 33 Well positioned to execute selective Inorganic Opportunities - Value accretive M&A | Alliances Strong Zero Debt Balance Sheet & Cash Generation to accelerate growth Capital Investments → Renovations | on-going Projects | new Greenfields & others - Estimated at c.8-10% of Revenue cumulatively Strong Growth Enablers in Place 33
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Review : 2024-2025 Artistic Impression Accelerating Growth through Managed Hotels Expansion of Welcomhotel Bhubaneshwar 101 Keys 5 Decades of Hospitality Expertise Bouquet of Brands across Segments Sustainability Leadership Food & Beverage Supremacy Smart Revenue Management Strong Loyalty & Distribution Robust Processes & Brand Standards World Class Digital Infrastructure Strong Partner Ecosystem Network Effects Mementos by ITC Hotels, Jaipur Storii by ITC Hotels, Devasom Resort & Spa, Kolkata Strategic Levers Our Right to Win 34
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35 35 Managed Hotels Portfolio mix (Upscale to Luxury) Managed keys in the premium segment In the next 5 years the premium hotel keys would constitute 47% of the total managed portfolio up from 35% today 1.4 X 3.4 X 2.6 X X Accelerating Growth through Managed Hotels 32% 35% 41% 47% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 2021 - 22 2024 -25 2026 -27 (E) 2029-30 (E) Managed Premium Keys (Upscale to Luxury) Managed Premium Keys as a % of Total Managed Keys Premium = Upscale, Upper-upscale and Luxury 1.5x 2.4x 3.9x Portfolio Premiumisation High Quality Assets x 35
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36 36 Robust Growth Pipeline: 50 Hotels with 4500+ Keys 2 Hotels 420 Keys 12 Hotels 1592 Keys 11 Hotels 615 Keys 22 Hotels 1765 Keys 3 Hotels 130 Keys ► Opened 29 Managed Hotels in the past 24 months (Apr 2023 – Mar 2025) ► High Quality of signed pipeline; High salience of Brownfield Assets • > 1 Hotel opening per month for next 24 months • Leverage momentum to accelerate further ► Targeting 220+ hotels with 20000+ keys over 5 years, with 70% salience of Managed Portfolio Keys includes proposed expansion at existing hotels 36
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37 37 Augmenting Revenue Streams Sleep Products & Amenities Exquisite offerings, curated for comfort Luxury Dining Program Exclusive access across 140+ hotels Memorable Destination Weddings Beach resorts | Palaces | Mountain getaways App based Online Food Delivery/ Takeaway Delivering signature cuisines from celebrated kitchens Members only Business Club Business Meetings | Private Dining | Events 37
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Review : 2024-2025 38 ENTERPRISE REVENUE? Water Efficiency Net Zero Carbon Goal LEED® Zero Carbon status for all Owned Hotels To exceed 2050 GHG sectoral emissions targets set as per COP 21 Waste Reduction Solid waste reuse / recycling > 99% LEED® Zero Water Status for > 50% of Owned Hotels 40% reduction in fresh-water consumption (Baseline 2018) 38 Sustainability 2.0 Agenda 2030 Sustainability Goals 38
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39 39 Future Ready Climate Positive Consumer Centric Inclusive Drive Scale & Profitability Strengthen Brand PortfolioResponsible Luxury World class talent ► Strong debt free Balance Sheet ► Scale up ‘Asset-Right’ strategy ► Augmenting Revenue streams ► Active Asset Management ► Bold Sustainability 2.0 agenda ► Engaged & motivated talent driven by ‘proneurial’ spirit ► Signature Cuisine Brands ► Bespoke service offerings ► Best-in-class loyalty programs ► Leverage Institutional Synergies ITC Hotels Poised For Next Horizon Of Growth Committed to Long-term Value Creation 39
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Poised for Next Horizon of Growth 40
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41 41 Annexures 41
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42 42 Standalone Financials – Stellar Performance in Q4 FY25 Particulars Q4 FY25 Q4 FY24 YoY FY25 Revenue from Operations 981 868 13% 3279 Other Income 35 3 - 54 Total Revenue 1017 871 17% 3333 Total Expenditure 587 549 7% 2090 EBITDA 395 319 24% 1189 EBITDA Margin % 40% 37% +3.5% 36% Depreciation 72 74 -2% 297 Finance cost 3 3 0% 11 Profit/ (Loss) before tax 355 245 45% 934 Tax Expense 91 61 48% 236 Profit/ (Loss) after tax 264 184 44% 698 PAT Margin % 26% 21% +5% 21% 42 ₹ In Cr.Statement of Profit & Loss
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43 43 Consolidated Financials - Highest ever Revenues & Profits Particulars Q4 FY25 Q4 FY24 YoY FY25 Revenue from Operations 1061 907 17% 3560 Other Income 38 0 - 66 Total Revenue 1099 907 21% 3626 Total Expenditure 648 585 11% 2349 EBITDA 412 322 28% 1211 EBITDA Margin % 39% 36% +3.4% 34% Depreciation 100 76 31% 402 Finance cost 2 2 -11% 7 Profit/ (Loss) before tax 349 244 43% 868 Add: Share of P&L in JV/Associates 5 4 25% 16 Tax Expense 96 64 49% 246 Profit/ (Loss) after tax 258 184 40% 638 Less: Share of NCI 1 1 -23% 3 Profit for the period 257 182 41% 635 PAT Margin % 23% 20% +3% 18% 43 ₹ In Cr.Statement of Profit & Loss
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44 44 40% 35% 21% 4% 57% 16% 25% 2% 60% 15% 23% 2% Retail Contracted MICE + Weddings Crew FY20 FY24 FY25 Growing Share of Higher Margin Segments ITC Hotels - a key Beneficiary of rising consumer spending and the growing Retail, MICE & Wedding industry in India Enhanced share from Non- Contracted business Diversified Customer Base High Retail salience in Revenue mix Data for FY25 Domestic Owned Hotels Only 44
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45 Strong Multi-channel Distribution Network GDS (16%) Unit Reservations (32%) Guest Call Centre (15%) Online Travel Agents (17%) Website and App (20%) Data for FY25 Domestic Owned Hotels Only 45
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46 46 Brands Operational Hotels | Keys Pipeline Hotels | Keys Total Hotels | Keys 16 | 4789 - 16 | 4789 2 | 181 2 | 420 4 | 601 28 | 3051 12 | 1592 40 | 4643 7 | 229 11 | 615 18 | 844 56 | 4133 22 | 1765 78 | 5898 34 | 999 3 | 130 37 | 1129 Total 143 | 13382 50 | 4522 193 | 17904 Brand landscape Status as on 31st March 2025 46
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47 47 Recent openings S. No Hotel Name City Brand Keys 1 WelcomHeritage Ayatana Ooty WelcomHeritage 30 2 Fortune Khajjiar Khajjiar Fortune 35 3 WelcomHeritage Grand Srinagar Srinagar WelcomHeritage 28 4 Storii Moira Riviera Goa Storii 18 5 Fortune Inn Heritage Walk Amritsar Fortune 50 6 Welcomhotel Hamsa Manali Welcomhotel 46 7 Fortune Park, Hoshiarpur Punjab Fortune 57 8 Fortune Ranjit Vihar Amritsar Fortune 54 9 WelcomHeritage Santa Roza Kasauli WelcomHeritage 44 10 Fortune Park, Aligarh Aligarh Fortune 65 11 Fortune Park, Tiruppur Tirupur Fortune 63 12 Fortune Park, East Delhi Delhi Fortune 70 13 Fortune Hosur Hosur Fortune 107 14 Storii Kaba Retreat, Solan Solan Storii 28 15 Mementos Jaipur Jaipur Mementos 64 16 Storii Urvashi's Retreat Manali Storii 22 17 ITC Ratnadipa Colombo ITC Hotels 352 18 Fortune Resort & Wellness Spa Bhaktapur Nepal Fortune 66 19 Fortune Statue of Unity, Kevadia Kevadia Fortune 144 20 Fortune Park, Palampur Palampur Fortune 43 21 Storii Devasom Resort & Spa Kolkata Storii 30 22 Fortune Select Candolim Goa Fortune 103 23 Fortune Beach Resort ECR Chennai Fortune 40 24 Welcomhotel Belagavi Belagavi Welcomhotel 116 25 Storii Jaisalmer Jaisalmer Storii 80 26 Welcomhotel Jabalpur Jabalpur Welcomhotel 122 27 Fortune Beachfront, Puri Puri Fortune 63 28 WelcomHeritage Natraj McLeod Ganj WelcomHeritage 32 29 Welcomhotel Delhi-Gurugram Highway Delhi Welcomhotel 81 30 Fortune Pahalgam Pahalgam, J&K Fortune 67 Total 2120 47
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THANK YOU