Viceroy Hotels Q4 FY26: Revenue surges 35.3%, EBITDA up 43.7% on Marriott Executive Apartments addition.
Viceroy Hotels Limited reported Q4 FY26 revenue of ₹49.5 crore, up 35.3% YoY, and EBITDA of ₹15.6 crore, up 43.7% YoY. Full-year revenue reached ₹149.7 crore. The addition of Marriott Executive Apartments significantly boosted performance. The company is investing ₹100+ crore in phased renovations, with Phase 1 completed.
The announcement details significant revenue and EBITDA growth, the successful integration of a new property, and ongoing substantial investments in renovations and expansions. These factors are material to the company's financial performance and future prospects.
The company reported strong year-on-year growth in revenue and EBITDA, driven by the addition of a new property and operational improvements. Despite some impact on PAT due to investments, the overall financial performance and strategic initiatives indicate a positive outlook.
Viceroy Hotels Limited reported a significant financial performance for the fourth quarter and full year ended March 31, 2026. The company announced a 35.3% year-on-year growth in total revenues for Q4 FY26, reaching ₹49.5 crore, compared to ₹36.6 crore in Q4 FY25.
Operating EBITDA for the quarter saw a robust increase of 43.7% year-on-year, amounting to ₹15.6 crore, with EBITDA margins improving by 183 basis points to 31.4%. This growth was attributed to better cost control, particularly in material consumption and employee costs.
For the full year, total revenues stood at ₹149.7 crore, a 6.3% increase from ₹140.8 crore in FY25. The full-year EBITDA rose by 20.6% to ₹44.6 crore, with margins improving by 353 basis points to 29.8%, reflecting operational efficiencies.
A key driver for the Q4 performance was the inclusion of Marriott Executive Apartments, Hyderabad, which contributed ₹9 crore in room revenues and ₹3.7 crore in food and beverage revenues during its first quarter of consolidation. This property demonstrated healthy initial operating metrics, with ADR increasing by 6.9% to ₹16,578 and RevPar by 3.2% to ₹13,438 in Q4 FY26.
The company is undertaking a phased investment and renovation program across its portfolio, with Phase 1 (Courtyard by Marriott Hyderabad) completed. Phase 2 of renovation at Marriott Hyderabad commenced in April and is expected to be completed in FY27, with Phase 3 targeted for FY28. These upgrades aim to enhance product quality and guest experience. The company also noted that the Courtyard by Marriott Hyderabad experienced a dip in occupancy due to renovations but is now back to normal levels. The Marriott Hyderabad Convention Center renovation is expected to be completed by the end of 2026, with investment recoupment expected within 1.5 years. A new Courtyard by Marriott in Madhapur is targeted for opening in FY29 or FY30.
Despite revenue and EBITDA growth, Profit After Tax (PAT) for Q4 FY26 stood at ₹6 crore, impacted by higher depreciation and finance costs related to ongoing investments and acquisitions. The company also clarified that borrowings on a consolidated basis as of March 31, 2026, were ₹264 crore, refuting a higher figure mentioned by an analyst.
Looking ahead, Viceroy Hotels anticipates continued growth, driven by asset enhancements, the integration of new properties, and strategic initiatives to improve operational efficiencies and guest experience.
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Viceroy Hotels Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. 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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