TTT NEWS NETWORK
KOLKATA | 4 NOVEMBER 2026
SAMHI Hotels Limited has reported strong double-digit revenue growth and expanding profitability for Q2 FY27, driven by high occupancy levels and robust revenue per available room (RevPAR) gains. Announcing its unaudited standalone and consolidated results on November 3, 2026, the prominent Indian branded hotel ownership platform outpaced its own long-term guidance of 9% to 11% by delivering a stellar same-store revenue growth of 12.6% Year-on-Year.
The company’s top-line performance was anchored by a Total Income of ₹3,427 million, marking a 15.6% YoY growth. Operational metrics showed significant strength, with same-store occupancy surging to 78.6% compared to 75.0% in the previous year. This occupancy boost, paired with a 9.2% increase in Average Room Rates (ARR), helped push same-store RevPAR up by 14.3% YoY. Demonstrating strong operational efficiency, the flow-through of incremental EBITDA to incremental revenue reached approximately 57% for the quarter.
Profitability metrics highlighted robust organic growth despite regulatory headwinds. Consolidated EBITDA climbed 12.0% YoY to ₹1,238 million, yielding a reported margin of 36.1%. This margin includes a 300 basis point dilution caused by recent GST regulation changes; excluding this impact, comparable EBITDA growth stood at 21.3% with margins tracking at 39.1%. Management expressed confidence that expanding its upscale inventory—which is unaffected by the GST adjustments—will naturally lift operating margins back toward the 40% mark in upcoming periods.
Further down the income statement, SAMHI recorded a Profit Before Tax of ₹534 million, rising 39.9% YoY when excluding exceptional items. Adjusted Profit After Tax (PAT) witnessed a massive 136.9% YoY surge to ₹372 million, while the final reported PAT closed at ₹411 million after accounting for a ₹39 million exceptional gain. The company’s revenue streams also showed high defensive resilience against global geopolitical volatility, with domestic travelers accounting for roughly 80% of all room nights sold during the quarter.
The hotel operator also demonstrated significantly improved balance sheet health and cash generation capacity, reporting ₹827 million in Free Cash Flow for the quarter. Capital restructuring efforts have successfully driven the company’s effective interest rate down to 7.8%, which is roughly 300 basis points lower than its IPO baseline. Leverage remained well-managed with a Net Debt-to-EBITDA ratio of 3.1x overall, dropping to an efficient 2.2x when isolated to operating assets. Backed by a strong core development pipeline and ongoing progress with RARE India, management stated the company is positioned on a formidable path for sustained future growth.
Commenting on the performance, Mr. Ashish Jakhanwala, MD & CEO, SAMHI Hotels Ltd., said:
Strong Operating Environment
We are pleased to report our performance for the quarter. Occupancy held close to 80% and RevPAR grew by about 14%, making this a reassuring period for the business. Revenue growth remained ahead of our long-term guidance. Domestic travellers accounted for about 80% of the room nights sold during the quarter. This cohort has proven more resilient amid ongoing geopolitical instability, reinforcing our confidence in the resilience of the Indian economy and the opportunity it represents.
Building for the Future
Against this strong backdrop, we have been steadily building for the future. For several quarters, our reported growth has been largely driven by same-store performance, as no new inventory came online. This is set to change. We look forward to opening the W Hotel in Hyderabad next fiscal year and have secured a pipeline of approximately 1,700 new rooms through FY2031. These initiatives put us on a path to strong growth, and our focus now is on delivering them on schedule.
We are equally proud of having built this pipeline without compromising our discipline: we add assets only in core markets and at a discount to replacement cost. We are not buying growth through expensive acquisitions; instead, we are building it through the efforts that conversions and turnarounds demand, as demonstrated in Bangalore, and by securing long-term leases, as in Noida and Hyderabad.
Our modest investment in RARE, together with ongoing discussions on a partnership with Marriott, will help RARE build a strong platform in experience-led leisure across the region, with limited capital exposure.
Outlook
We expect H2 FY27 to be operationally stronger. Going forward, incremental EBITDA is expected to translate into free cash flow, with interest outflows remaining stable. This should enable us to increasingly fund future growth investments through internal cash generation, supporting a disproportionate improvement in free cash flow generation.
Our Focus on Doing What Is Right
We released our first Sustainability Report for FY2025-26, covering 31 hotels and 4,899 rooms across 11 states. The report highlights improvements in energy efficiency, waste reduction and renewable energy usage. Building on our FY30 commitments, we will establish quantified targets across key sustainability parameters, with clear baselines to track and benchmark our progress.
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