Viceroy Hotels Acquires Marriott Executive Apartments for ₹215 Crore, Boosts Hyderabad Portfolio
Viceroy Hotels acquired Marriott Executive Apartments in Hyderabad for ₹215 crores. The deal adds 75 keys and is expected to generate ₹48 crores turnover and ₹21 crores EBITDA in CY25. The company is also investing ₹120 crores in upgrades, with Phase 1 of Courtyard completed. Q3 FY26 revenue was ₹38.33 crores, up 1.5% YoY, with EBITDA at ₹12.09 crores.
The acquisition of a significant asset and substantial investment in property upgrades are material events that will likely have a high impact on the company's future performance and market position.
The acquisition of a new property and ongoing upgrades to existing ones, coupled with positive financial results and outlook, indicate a positive sentiment.
Viceroy Hotels Limited announced the acquisition of Marriott Executive Apartments in Hyderabad for ₹215 crores, adding 75 executive rooms and 1,57,000 square feet to its portfolio. This strategic move aims to strengthen the company's presence in the premium extended-stay segment, aligning with its vision to expand to 1,000 keys by 2030.
The acquisition is expected to deliver a turnover of approximately ₹48 crores and an EBITDA of ₹21 crores in calendar year 2025, with earnings visibility beginning in Q4 FY26. The company also provided an update on its ongoing renovation and expansion projects at its existing properties.
Phase 1 of the Courtyard renovation, involving an investment of ₹50 crores, has been completed, adding 56 new rooms and enhancing facilities. Phase 2 will focus on the Marriott property, including doubling convention capacity to 20,000 square feet by December 2026, refurbishing 295 rooms, and upgrading F&B outlets. These upgrades are expected to increase F&B contribution to revenue from 45% to 48%.
Financially, for Q3 FY26, Viceroy Hotels reported revenue from operations of ₹38.33 crores, a 1.5% year-on-year growth, with EBITDA at ₹12.09 crores, up 6.5% year-on-year and margins expanding to 31.5%. For the 9-month period, revenue stood at ₹94.5 crores, with EBITDA at ₹23.5 crores and margins at 24.9%. The company highlighted strong ADR growth across its properties, with Q3 FY26 ADR at ₹8,135 for Marriott and ₹8,386 for Courtyard.
The company also discussed the positive impact of macro trends, including India's tourism upcycle, MICE development, and improved connectivity in Hyderabad, such as the upcoming Southern High-Speed Rail corridor, positioning Viceroy Hotels to capitalize on increased demand.
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Viceroy Hotels Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Viceroy Hotels Limited. Read the original for the full detail.