Viceroy Hotels Limited — Investor Meet, 26-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Viceroy Hotels reported Q4 revenue of INR36.6 Cr (+5% YoY) and EBITDA of INR10.83 Cr (+59% YoY) with ~30% margin. Full-year revenue rose 14% to INR136 Cr; EBITDA was up 61% at INR37.55 Cr, with PAT boosted by deferred tax income. Occupancy stood at 70.3%, Marriott’s RevPAR grew 13.5%, while Courtyard’s declined due to renovation. Management plans INR120 Cr capex over 2-3 years for room, banquet, and F&B upgrades, expecting payback within 2-2.5 years. A 200-room Marriott in Madhapur is targeted in 3-4 years. Focus remains on Hyderabad’s strong hospitality demand and selective Tier I city acquisitions. EBITDA margins to stay above 30%, with net debt/EBITDA near 1x supported by QIP and reserves. Tone is confident with clear growth and margin expansion strategies.