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Indian (NIFTY) Hospitality Industry Analysis

UpdatedMar 30, 2026
DataAggregated Company Financials
Companies102
  • 7D-2.1%
  • 3M-21.7%
  • 1Y-12.8%
  • YTD-21.8%

Over the last 7 days, the Hospitality industry has dropped 2.1%, driven by pullbacks in Swiggy and Indian Hotels of 5.0% and 4.1%, respectively. Meanwhile, Travel Food Services actually outperformed within the industry, gaining 7.4% in the last week. However, the industry is down 13% over the past year. Earnings are forecast to grow by 42% annually.

Industry Valuation and Performance

Has the Indian Hospitality Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 30 Mar 2026₹6.1t₹1.4t₹36.8b25.1x166.5x4.2x
Wed, 25 Feb 2026₹6.9t₹1.4t₹36.7b28.1x188.9x4.8x
Fri, 23 Jan 2026₹7.2t₹1.4t₹35.3b30x203.1x5.1x
Sun, 21 Dec 2025₹7.8t₹1.3t₹34.2b32.7x227.7x6x
Tue, 18 Nov 2025₹8.1t₹1.3t₹32.6b32.9x248.9x6.3x
Thu, 16 Oct 2025₹8.7t₹1.2t₹39.7b35.2x220.4x7.5x
Sat, 13 Sep 2025₹8.7t₹1.2t₹38.1b36.8x227.8x7.5x
Mon, 11 Aug 2025₹8.1t₹1.1t₹37.4b33x215.6x7x
Wed, 09 Jul 2025₹7.6t₹1.1t₹38.1b35.5x200.1x7.2x
Fri, 06 Jun 2025₹7.5t₹1.1t₹38.1b35.7x197.7x7.1x
Sun, 04 May 2025₹6.8t₹959.4b₹29.8b33.8x229.7x7.1x
Tue, 01 Apr 2025₹6.5t₹936.7b₹29.5b33.1x219.8x6.9x
Thu, 27 Feb 2025₹6.6t₹936.7b₹29.5b31.1x223.7x7.1x
Sat, 25 Jan 2025₹6.6t₹897.3b₹33.5b36.1x197.5x7.4x
Mon, 23 Dec 2024₹7.6t₹865.3b₹31.3b38.8x243x8.8x
Wed, 20 Nov 2024₹6.7t₹857.2b₹30.9b34.6x217.3x7.8x
Fri, 18 Oct 2024₹5.9t₹694.9b₹48.9b42.5x120.2x8.5x
Sun, 15 Sep 2024₹6.0t₹694.8b₹48.1b45.5x125.1x8.7x
Tue, 13 Aug 2024₹5.7t₹693.1b₹48.1b42.5x119.3x8.3x
Thu, 11 Jul 2024₹5.3t₹658.9b₹50.5b38.4x105.6x8.1x
Sat, 08 Jun 2024₹4.9t₹654.3b₹48.2b38.4x100.7x7.4x
Mon, 06 May 2024₹4.8t₹611.5b₹44.0b37.1x109.8x7.9x
Wed, 03 Apr 2024₹4.7t₹607.0b₹42.8b40x109.7x7.7x
Fri, 01 Mar 2024₹4.5t₹606.1b₹42.9b39.1x104x7.4x
Sun, 28 Jan 2024₹3.9t₹566.8b₹31.5b32.3x122.6x6.8x
Tue, 26 Dec 2023₹3.6t₹564.8b₹32.4b28.1x111.8x6.4x
Thu, 23 Nov 2023₹3.4t₹556.7b₹35.7b28.5x94.3x6.1x
Sat, 21 Oct 2023₹3.4t₹528.6b₹33.5b27.1x100.1x6.3x
Mon, 18 Sep 2023₹3.3t₹524.7b₹33.4b22.5x98.4x6.3x
Wed, 16 Aug 2023₹3.0t₹521.0b₹32.3b26x92.7x5.7x
Fri, 14 Jul 2023₹2.9t₹490.4b₹30.0b25.1x95x5.8x
Sun, 11 Jun 2023₹2.8t₹490.5b₹30.0b25.4x92.6x5.7x
Tue, 09 May 2023₹2.6t₹449.9b₹21.4b25.6x121.1x5.8x
Thu, 06 Apr 2023₹2.3t₹440.1b₹18.1b24.5x124.6x5.1x
Price to Earnings Ratio

124.6x


Total Market Cap: ₹2.3tTotal Earnings: ₹18.1bTotal Revenue: ₹440.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Hospitality Industry Price to Earnings3Y Average 158.8x202420252026
Current Industry PE
  • Investors are optimistic on the Indian Hospitality industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 166x which is higher than its 3-year average PE of 159x.
  • The 3-year average PS ratio of 6.9x is higher than the industry's current PS ratio of 4.2x.
Past Earnings Growth
  • The earnings for companies in the Hospitality industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 49% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Consumer Discretionary industry?

IN Market-1.71%
Consumer Discretionary-2.00%
Hospitality-2.08%
Casinos and Gaming2.67%
Restaurants-0.78%
Hotels, Resorts and Cruise Lines-3.84%
Leisure Facilities-5.97%
Industry PE
  • Investors are most optimistic about the Leisure Facilities industry which is trading above its 3-year average PE ratio of 30.7x.
    • Analysts are expecting annual earnings growth of 55.7%, which is higher than its past year's earnings decline of 36.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Leisure Facilities industry, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings decline of 37% per year.
  • In contrast, the Hotels, Resorts and Cruise Lines industry is expected to see its earnings grow by 20% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TRAVELFOOD Travel Food Services₹1.26k14.8%
+₹21.4b		n/aPE39.3x
ETERNAL Eternal₹228.980.9%
+₹18.3b		13.5%PE899.4x
505533 Westlife Foodworld₹483.6016.0%
+₹10.4b		-30.6%PE239.6x
THELEELA Leela Palaces Hotels & Resorts₹409.604.0%
+₹5.3b		n/aPE39.2x
TBOTEK TBO Tek₹1.06k3.9%
+₹4.2b		-12.3%PE46.2x

Latest News

500850
₹590.75
Indian Hotels
7D
-4.1%
1Y
-24.9%

500850: Upcoming Results Review Will Support Future Repricing Potential

Analysts have modestly trimmed their price target on Indian Hotels to ₹822.15 from ₹832.16, citing slightly updated assumptions around the discount rate, revenue growth, profit margin and forward P/E multiples. What's in the News A board meeting is scheduled for February 12, 2026 at 14:15 IST to review the unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the limited review report (Key Developments).
500413
₹93.90
Thomas Cook (India)
7D
-9.1%
1Y
-30.2%

500413: Resort And Destination Partnerships Will Drive Future Upside

Analysts have maintained the price target for Thomas Cook (India) at ₹167.50, citing largely unchanged assumptions on fair value, growth, margins and future P/E that together support a steady view on the stock’s valuation outlook. What's in the News Board meeting on Mar 20, 2026 to consider a potential demerger, consolidation of existing equity shares, mergers by absorption of group entities, and a reduction in paid up equity share capital, alongside other business matters (Board Meeting).
TBOTEK
₹1,104.70
TBO Tek
7D
3.4%
1Y
-8.4%

TBOTEK: Upcoming Governance Decisions Will Support Confidence In Future Upside

Analysts now set a slightly lower price target for TBO Tek, trimming it from ₹1,971.89 to ₹1,910.70, as small adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions feed into their updated view. What's in the News Board meeting scheduled for Feb 11, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended Dec 31, 2025, which may offer further insight into TBO Tek's recent operating and financial trends (Key Developments).
IXIGO
₹181.70
Le Travenues Technology
7D
4.7%
1Y
28.3%

IXIGO: Planned Subsidiary Investment And New Share Allotment Will Support Future Upside

Analysts have trimmed their price target on Le Travenues Technology by ₹20 to ₹262.5, reflecting updated assumptions around revenue growth, profit margins and forward P/E multiples. What's in the News Board meeting scheduled for Jan 22, 2026, to consider and approve financial results for the quarter and nine months ended Dec 31, 2025 (company filing).
DEVYANI
₹99.56
Devyani International
7D
-4.4%
1Y
-33.2%

DEVYANI: Upcoming Amalgamation And Leadership Shift Will Support Capital Restructuring

Analysts have trimmed their fair value estimate for Devyani International slightly, with the price target moving from about ₹160.04 to ₹158.74 as they refresh assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News Board meeting scheduled for March 10, 2026, to review a Scheme of Amalgamation for merging Sky Gate Hospitality, Blackvelvet Hospitality and Say Chefs Eatery into Devyani International, under Sections 230 to 232 of the Companies Act, 2013 (company filing).
ETERNAL
₹233.17
Eternal
7D
0.4%
1Y
15.6%

ETERNAL: OpenAI Collaboration Will Drive Future Upside Case

Analysts have lifted their price target on Eternal to ₹500.92, reflecting updated assumptions for slightly higher revenue growth, a modestly better profit margin and a lower discount rate, along with a marginally reduced future P/E multiple. What's in the News Eternal and OpenAI entered a collaboration to deploy advanced AI tools across Eternal’s consumer apps, partner platforms and internal systems, including Zomato, Blinkit, District, Hyperpure and Nugget.
JUBLFOOD
₹454.35
Jubilant FoodWorks
7D
0.6%
1Y
-31.6%

JUBLFOOD: Upcoming Results Review Will Guide Updated Discount Rate And P E Expectations

Analysts have trimmed their price target on Jubilant FoodWorks by about ₹15, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, which slightly recalibrate their view on the stock. What's in the News A board meeting is scheduled for February 10, 2026, to consider the unaudited consolidated financial results for the quarter and nine months ended December 31, 2025 (company filing).
505533
₹441.20
Westlife Foodworld
7D
0.9%
1Y
-36.7%

505533: Upcoming Board Meeting Will Reinforce Bullish Earnings Multiple Outlook

Analysts have trimmed their price target for Westlife Foodworld slightly from ₹551.00 to about ₹546.71, reflecting refreshed assumptions around discount rate, revenue growth, profit margin, and future P/E. What's in the News A board meeting is scheduled for February 4, 2026, at 12:30 Indian Standard Time to consider and approve unaudited financial results for the quarter ended December 31, 2025 (company filing).
THELEELA
₹406.20
Leela Palaces Hotels & Resorts
7D
1.7%
1Y
n/a
MHRIL
₹238.60
Mahindra Holidays & Resorts India
7D
-7.1%
1Y
-16.3%

MHRIL: Leisure Hospitality Entry And Lakshadweep Tie Up Will Drive Upside

Analysts have kept their fair value estimate for Mahindra Holidays & Resorts India steady at ₹440 per share, with only minor tweaks to assumptions such as a slightly lower discount rate and a modestly adjusted future P/E multiple supporting the unchanged price target. What's in the News Board meeting scheduled on November 19, 2025 to consider entering Leisure Hospitality as a new line of business, indicating a possible broadening of the company’s operating scope (company filing).
EIHOTEL
₹284.30
EIH
7D
-8.1%
1Y
-19.6%

Returns Are Gaining Momentum At EIH (NSE:EIHOTEL)

Feb 15
Returns Are Gaining Momentum At EIH (NSE:EIHOTEL)
TRAVELFOOD
₹1,180.00
Travel Food Services
7D
7.4%
1Y
n/a
VENTIVE
₹585.95
Ventive Hospitality
7D
-8.6%
1Y
-17.8%
SWIGGY
₹268.55
Swiggy
7D
-5.0%
1Y
-18.7%

Analysts Have Been Trimming Their Swiggy Limited (NSE:SWIGGY) Price Target After Its Latest Report

Feb 03
Analysts Have Been Trimming Their Swiggy Limited (NSE:SWIGGY) Price Target After Its Latest Report
ITCHOTELS
₹141.77
ITC Hotels
7D
-4.9%
1Y
-28.2%

Is ITC Hotels (NSE:ITCHOTELS) A Risky Investment?

Jan 27
Is ITC Hotels (NSE:ITCHOTELS) A Risky Investment?
532848
₹55.36
Delta
7D
9.5%
1Y
-33.5%