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Indian (NIFTY) Hospitality Industry Analysis

UpdatedDec 30, 2025
DataAggregated Company Financials
Companies102
  • 7D-0.9%
  • 3M-8.1%
  • 1Y-12.8%
  • YTD-11.0%

In the last week, Hospitality has been flat. Unfortunately though, the industry is down 13% over the past 12 months. As for the next few years, earnings are expected to grow by 41% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 30 Dec 2025₹7.8t₹1.3t₹34.2b31.5x228x6x
Thu, 27 Nov 2025₹8.1t₹1.3t₹33.4b33.1x241.7x6.3x
Sat, 25 Oct 2025₹8.5t₹1.2t₹38.3b34.9x221x6.8x
Mon, 22 Sep 2025₹8.9t₹1.2t₹38.2b35.9x231.8x7.6x
Wed, 20 Aug 2025₹8.5t₹1.2t₹38.0b36.4x223.1x7.3x
Fri, 18 Jul 2025₹7.9t₹1.1t₹42.0b35.1x188.5x7.3x
Sun, 15 Jun 2025₹7.3t₹1.1t₹38.1b35x192.6x6.9x
Tue, 13 May 2025₹6.9t₹980.1b₹25.5b34.5x272.7x7.1x
Thu, 10 Apr 2025₹6.5t₹936.7b₹29.5b33.8x221.7x7x
Sat, 08 Mar 2025₹6.6t₹936.4b₹29.5b35x224.2x7.1x
Mon, 03 Feb 2025₹7.3t₹900.5b₹34.3b35.5x211.8x8.1x
Wed, 01 Jan 2025₹7.7t₹870.1b₹32.9b37.8x233.1x8.8x
Fri, 29 Nov 2024₹7.2t₹856.8b₹30.9b35.8x231.5x8.4x
Sun, 27 Oct 2024₹5.5t₹716.1b₹48.2b37x115x7.7x
Tue, 24 Sep 2024₹6.2t₹694.8b₹48.1b44.5x128.8x8.9x
Thu, 22 Aug 2024₹5.7t₹694.6b₹48.0b42.6x118.9x8.2x
Sat, 20 Jul 2024₹5.2t₹658.2b₹50.4b38.9x103.9x8x
Mon, 17 Jun 2024₹5.0t₹653.1b₹50.2b36.4x99.4x7.6x
Wed, 15 May 2024₹4.7t₹629.1b₹44.1b38.4x106.5x7.5x
Fri, 12 Apr 2024₹4.8t₹607.0b₹42.8b39.9x113x8x
Sun, 10 Mar 2024₹4.4t₹606.4b₹42.8b40x102.9x7.3x
Tue, 06 Feb 2024₹4.0t₹575.0b₹32.4b34.7x123x6.9x
Thu, 04 Jan 2024₹3.7t₹564.8b₹32.4b28.9x113.3x6.5x
Sat, 02 Dec 2023₹3.4t₹556.7b₹35.7b28.9x95.8x6.1x
Mon, 30 Oct 2023₹3.2t₹531.0b₹33.1b27.5x95.4x5.9x
Wed, 27 Sep 2023₹3.2t₹524.7b₹33.4b23.8x96.6x6.1x
Fri, 25 Aug 2023₹3.1t₹524.7b₹33.4b24.2x92.2x5.9x
Sun, 23 Jul 2023₹2.9t₹490.0b₹30.0b24.4x95.7x5.9x
Tue, 20 Jun 2023₹2.8t₹490.3b₹30.1b24.9x94.2x5.8x
Thu, 18 May 2023₹2.6t₹454.5b₹23.0b24.9x112.6x5.7x
Sat, 15 Apr 2023₹2.3t₹440.1b₹18.1b23.9x127.8x5.2x
Mon, 13 Mar 2023₹1.9t₹377.7b₹29.5b26.1x62.9x4.9x
Wed, 08 Feb 2023₹1.9t₹366.8b₹30.8b25.6x60.2x5x
Fri, 06 Jan 2023₹2.0t₹345.0b₹26.2b27.3x74.6x5.7x
Price to Earnings Ratio

74.6x


Total Market Cap: ₹2.0tTotal Earnings: ₹26.2bTotal Revenue: ₹345.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Hospitality Industry Price to Earnings3Y Average 148.7x20242025
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 228x which is higher than its 3-year average PE of 149x.
  • The 3-year average PS ratio of 6.9x is higher than the industry's current PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Hospitality industry have grown 9.3% per year over the last three years.
  • Revenues for these companies have grown 55% 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-0.73%
Consumer Discretionary-1.11%
Hospitality-0.92%
Hotels, Resorts and Cruise Lines-0.18%
Restaurants-1.38%
Casinos and Gaming-2.23%
Leisure Facilities-4.48%
Industry PE
  • Investors are most optimistic about the Hotels, Resorts and Cruise Lines industry even though it's trading below its 3-year average PE ratio of 58.6x.
    • Analysts are expecting annual earnings growth of 23.2%, which is higher than its past year's earnings growth of 8.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Restaurants industry, expecting annual earnings growth of 52% over the next 5 years.
  • This is better than its past earnings growth rate of 10% per year.
  • In contrast, the Hotels, Resorts and Cruise Lines industry is expected to see its earnings grow by 23% 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
DEVYANI Devyani International₹143.332.9%
+₹5.0b		-22.0%PS3.4x
SAPPHIRE Sapphire Foods India₹253.105.2%
+₹4.0b		-23.9%PS2.7x
500850 Indian Hotels₹742.600.4%
+₹3.8b		-16.4%PE62.7x
THELEELA Leela Palaces Hotels & Resorts₹424.702.7%
+₹3.8b		n/aPE55.1x
VENTIVE Ventive Hospitality₹720.102.0%
+₹3.3b		2.2%PE61.3x

Latest News

SWIGGY
₹394.85
Swiggy
7D
-2.8%
1Y
-28.3%
ETERNAL
₹282.85
Eternal
7D
-1.3%
1Y
0.3%

ETERNAL: New Service Foundation Will Drive Long Term Social Impact Upside

Analysts have marginally reduced their price target for Eternal by approximately 2 dollars, reflecting a slightly higher perceived risk profile and tempered revenue growth expectations, partially offset by modestly improved profit margin and valuation assumptions. What's in the News The board has approved the incorporation of Eternal General Service Foundation as a wholly owned subsidiary in India, focused on charitable and social welfare activities spanning hunger relief, healthcare, education, environmental sustainability, disaster response, social empowerment, animal welfare, and other public welfare programs (company filing).
IXIGO
₹252.95
Le Travenues Technology
7D
-4.6%
1Y
43.0%

IXIGO: Singapore Subsidiary Will Drive Future International Expansion Potential

Analysts have modestly lifted their price target on Le Travenues Technology to ₹340.00, reflecting slightly higher assumed discount rates and future earnings multiples, while keeping growth and margin expectations broadly unchanged. What's in the News Board meeting scheduled for November 12, 2025 to consider allotment of equity shares and the establishment of a wholly owned subsidiary in Singapore (Board Meeting) Board approves setting up a wholly owned Singapore subsidiary with an initial cash investment equivalent to SGD 50,000 to drive international expansion and strategic investments (Business Expansions) Private placement of 46,270,092 equity shares at INR 280 per share to raise about INR 12.96 billion from MIH Investments One B.V., taking its post issue stake to 10.10 percent, subject to shareholder approval (Private Placements) Extraordinary General Meeting on November 1, 2025 approves amendments to the Articles of Association to align with a share subscription agreement and related changes (Changes in Company Bylaws/Rules) The board has scheduled multiple meetings on October 10 and October 29, 2025 to consider fundraising proposals, financial results, and ancillary matters tied to the preferential issue and potential new investor (Board Meeting, M&A Rumors and Discussions) Valuation Changes Fair Value: Unchanged at ₹340.0 per share, implying no revision to the base-case target price.
500413
₹139.30
Thomas Cook (India)
7D
-3.7%
1Y
-29.1%

500413: Expanding Travel Network And Event Logistics Will Drive Future Upside

Analysts have nudged their price target for Thomas Cook (India) slightly higher to Rs 194.0, reflecting fine tuned assumptions around discount rates, revenue growth and profitability while keeping overall fair value broadly unchanged. What's in the News Board meeting scheduled on December 18, 2025 to consider the appointment of Gurumoorthy Mahalingam as an additional independent director and other matters (company filing) Extraordinary shareholders meeting on December 19, 2025 via postal ballot to amend and extend the company’s ESOP 2018 and ESOP 2024 schemes, including to subsidiary employees (company filing) Rapid expansion of the foreign exchange network with new outlets in Varanasi, Uttar Pradesh and Kottayam, Kerala, strengthening coverage of key tourist and student hubs (company announcement) Launch of new product offerings, including extensive China holiday packages and flexible small-group Van Tours across multiple international destinations to capture rising outbound travel demand (company announcement) Strategic partnerships secured, such as exclusive accommodation and transport management for the Asian Aquatic Championships 2025 and a Memorandum of Understanding with India’s Ministry of Tourism to enhance tourism experiences using traveller feedback (company announcement) Valuation Changes Fair Value: Maintained effectively unchanged at ₹194.0 per share, reflecting only rounding adjustments versus the prior ₹194 estimate.
CHALET
₹871.40
Chalet Hotels
7D
0.7%
1Y
-11.2%

Chalet Hotels (NSE:CHALET) Has A Pretty Healthy Balance Sheet

Dec 22
Chalet Hotels (NSE:CHALET) Has A Pretty Healthy Balance Sheet
505533
₹542.50
Westlife Foodworld
7D
3.2%
1Y
-33.7%

505533: Expanding Restaurant Network Will Drive Premium Earnings Multiple Through Fiscal 2027

Analysts have modestly increased their price target on Westlife Foodworld to ₹638.10 per share, reflecting slightly higher discount rate assumptions and stable growth and margin expectations that support a premium future earnings multiple. What's in the News Expanded footprint with a net addition of six outlets, taking the total to 450 restaurants across 72 cities and reinforcing the path toward the Vision 2027 target of 580 to 630 outlets by FY27 (Key Developments) Strengthened format mix with 108 Drive thrus, 436 McCafés, and 390 EOTF stores, supporting higher convenience and premiumization within the network (Key Developments) Chief Financial Officer Hrushit Shah resigned effective November 4, 2025, to relocate overseas and be with his family (Key Developments) Board meeting held on November 3, 2025, to review unaudited financial results for the quarter and half year ended September 30, 2025 (Key Developments) Valuation Changes Consensus Analyst Price Target: Fair value per share remains unchanged at ₹638.10, indicating stable long term earnings assumptions.
500850
₹742.60
Indian Hotels
7D
0.4%
1Y
-16.4%
JUBLFOOD
₹563.60
Jubilant FoodWorks
7D
-0.9%
1Y
-21.6%

JUBLFOOD Will Likely Benefit From Improving Profit Margins And Earnings Visibility

Analysts have modestly reduced their price target on Jubilant FoodWorks by about ₹10 to approximately ₹900 per share. They cited a lower required return, offset by expectations of faster revenue growth and stronger profit margins, along with a more reasonable future earnings multiple.
SAPPHIRE
₹253.10
Sapphire Foods India
7D
5.2%
1Y
-23.9%

SAPPHIRE: Steady Earnings Outlook Will Support Future Upside Despite Board Change

Analysts have kept their price target for Sapphire Foods India unchanged at ₹330, reflecting stable expectations. Modest tweaks to the discount rate and future valuation multiples are seen as broadly offsetting each other in their models.
LEMONTREE
₹160.31
Lemon Tree Hotels
7D
-2.1%
1Y
4.8%

LEMONTREE: Nationwide Room Expansion Will Drive Future Upside Potential

Analysts have modestly raised their price target on Lemon Tree Hotels to ₹182.53 per share from ₹182.53. This reflects slightly higher discount rate assumptions while maintaining broadly unchanged views on revenue growth, profit margins, and future valuation multiples.
DEVYANI
₹143.33
Devyani International
7D
2.9%
1Y
-22.0%

Devyani International Limited's (NSE:DEVYANI) Intrinsic Value Is Potentially 26% Below Its Share Price

Dec 12
Devyani International Limited's (NSE:DEVYANI) Intrinsic Value Is Potentially 26% Below Its Share Price
EIHOTEL
₹364.15
EIH
7D
-1.0%
1Y
-9.0%

EIH (NSE:EIHOTEL) Is Posting Promising Earnings But The Good News Doesn’t Stop There

Nov 19
EIH (NSE:EIHOTEL) Is Posting Promising Earnings But The Good News Doesn’t Stop There
TRAVELFOOD
₹1,161.50
Travel Food Services
7D
-4.4%
1Y
n/a
VENTIVE
₹720.10
Ventive Hospitality
7D
2.0%
1Y
2.2%

Ventive Hospitality Limited's (NSE:VENTIVE) Share Price Could Signal Some Risk

Nov 14
Ventive Hospitality Limited's (NSE:VENTIVE) Share Price Could Signal Some Risk
TAJGVK
₹432.60
TAJGVK Hotels & Resorts
7D
7.1%
1Y
13.2%

TAJGVK Hotels & Resorts' (NSE:TAJGVK) Earnings Are Of Questionable Quality

Nov 11
TAJGVK Hotels & Resorts' (NSE:TAJGVK) Earnings Are Of Questionable Quality
THELEELA
₹424.70
Leela Palaces Hotels & Resorts
7D
2.7%
1Y
n/a