SAMHI Hotels reported strong Q3 FY26 results, with same-store RevPAR growth of 13% to INR 5,643 and total income growth of 16% to INR 342 crores. EBITDA grew by 19%, though reported growth was moderated to 13.2% due to GST regulation changes. The company is progressing on key growth initiatives including the W Hyderabad and Westin Bangalore projects. Net debt stood at INR 1,450 crores, with a stable net debt-to-EBITDA ratio of 3x.
Financial Performance in Q3 FY26
SAMHI Hotels demonstrated strong operational results in Q3 FY26:
- Same-store RevPAR grew by 13% year-on-year, reaching INR 5,643.
- Total income increased by 16% year-on-year to INR 342 crores for the quarter.
- Underlying EBITDA grew by 19% year-on-year. However, reported EBITDA growth was 13.2% due to changes in GST regulations. Excluding the GST impact, EBITDA growth would have been 19.2%.
Growth Initiatives and Expansion
The company is actively pursuing key growth initiatives:
- The 170-room W Hyderabad project is progressing as planned, with design development mostly complete and building modifications underway.
- Demolition and preconstruction have commenced for the 220-room Westin block in Whitefield, Bangalore.
- The portfolio includes 4,900 operational rooms, with an additional 1,900 rooms under development or rebranding.
Balance Sheet and Debt
Key balance sheet figures include:
- Net debt of INR 1,450 crores as of December 31, 2025.
- Net debt-to-EBITDA remains stable at 3x.
- Trailing 12-month EBITDA, excluding non-cash ESOP costs, increased to INR 482 crores.
GST Impact and Mitigation
Changes in GST regulations had a short-term impact, mainly in the mid-scale portfolio. The company anticipates that this will lead to increased sales volumes in the long term, especially in the mid-scale segment, and will ultimately offset any initial impact.
Looking Ahead
SAMHI Hotels aims to achieve a revenue of approximately INR 3,000 crores by 2030. The company will continue to focus on strong operating performance and growth, with a strategic focus on city-centric business travel portfolios across resilient office markets.
Source: BSE
