Viceroy Hotels Limited — Investor Meet, 21-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Viceroy Hotels reported Q2 FY26 income of INR 31.86 crore (EBITDA INR 8.82 crore, 27.7% margin) and H1 FY26 income of INR 58.31 crore (EBITDA INR 13.64 crore, 23.4% margin). ADRs showed strong double-digit YoY growth, despite Courtyard occupancy impacted by renovations.

Management's INR 120 crore phased renovation is underway. Phase 1 added 56 new Courtyard rooms. Phase 2 will expand Marriott's convention center and upgrade 295 rooms. They anticipate renovations will significantly boost ADRs, occupancy, and drive EBITDA margins over 30% (long-term 40%). Management is confident in capitalizing on Hyderabad's strong demand and limited hotel supply.