May 2026
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Largest Accommodation Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Indian Hotels, ITC Hotels, EIH, Chalet Hotels and Ventive Hospitality.
 | Indian Hotels Co Ltd is an owner and operator of hotels and resorts, domiciled in India. The company operates its hotels and resorts under the Taj, Vivanta, Ginger, Seleqtions, and other brands. Indian Hotels reports revenue across the following business lines: room income; food, restaurants, and banquet income; membership fees; management and operating fees; and others. Room income contributes a majority to the company's revenue, followed by food, restaurants, and banquet income. Indian Hotels derives the majority of its revenue domestically. | $7 | -18% | $10B | $10B | 9.4x | 24.4x | ||
| ITC Hotels Ltd is engaged in hospitality services, offering a collection of hotels and resorts. The group operates under six brands: ITC Hotels and Mementos in the luxury segment, Storii in the boutique premium segment, Welcomhotel in the upper upscale category, Fortune in the midscale segment, and WelcomHeritage in the heritage leisure space. The company operates within and outside India, with the majority of revenue from the India, as the majority of its location is within India, like Agra, New Delhi, Mumbai, Chennai, and many more top cities. | $2 | -31% | $3B | $3B | 8.7x | 23.6x | ||
| EIH Ltd is an Indian-based company predominantly engaged in owning and managing premium luxury hotels and cruisers under the luxury Oberoi, Maidens, and Trident brands. The company is also involved in in-flight catering, airport restaurants, project management, and corporate air charters. | $3 | -18% | $2B | $2B | 6.2x | 16.0x | ||
| Chalet Hotels Ltd is a company that engages in owning and developing high-end hotels in key metro cities in India. Some of the hotels in the company's portfolio are; JW Marriott Mumbai Sahar, The Orb, Bengaluru Marriott Hotel Whitefield, and Courtyard Aravali Resort among others. It operates through the following segments: Hospitality (Hotels), Real estate, and Rental/Annuity. The firm generates the majority of its revenue from the Hospitality segment which comprises the income earned through hotel operations. | $8 | -18% | $2B | $2B | 6.9x | 15.6x | ||
| Ventive Hospitality Ltd is a hospitality asset owner with a primary focus on luxury offerings across business and leisure segments. All of its hospitality assets are operated by or franchised by operators, including Marriott, Hilton, Minor and Atmosphere. Its pre-acquisition luxury hospitality asset comprises JW Marriott, Pune, and its post-acquisition luxury hospitality assets comprise JW Marriott, Pune, The Ritz-Carlton, Pune, Conrad, Maldives, Anantara, Maldives and Raaya by Atmosphere, Maldives. It geographically operates in India, the Maldives, and Sri Lanka. | $7 | -19% | $2B | $2B | 6.9x | 13.4x | ||
| Leela Palaces Hotels and Resorts Ltd own, operate, manage and develop luxury hotels and resorts under The Leela brand. Its Portfolio includes The Leela Palaces, The Leela Hotels and The Leela Resorts. | $4 | -- | $1B | $2B | 10.0x | 19.0x | ||
| Lemon Tree Hotels Ltd operates hotels across the upscale, upper-midscale, midscale, and economy segments under seven brands catering to varied guest needs. These include Aurika Hotels and Resorts (upscale), Lemon Tree Premier and Keys Prima (upper-midscale), Lemon Tree Hotels and Keys Select (midscale), and Red Fox and Keys Lite (economy). The company generates revenue by owning, leasing, and managing hotels, earning through room rentals and management commissions. Its operations span metro regions and tier cities across India, with international presence in countries like the United Arab Emirates, Bhutan, and Nepal, focusing on delivering differentiated service and value offerings to a broad customer base. | $1 | -23% | $918M | $1B | 7.4x | 15.1x | ||
| Mahindra Holidays & Resorts India Ltd is a resort and casino company that operates timeshares. The company's operating segment includes Mahindra Holidays and Resorts India Limited (MHRIL) and Holiday Club Resorts Oy (HCRO). The business sells family-based timeshares and has a variety of vacation options, such as water sports, adventure sports, hobby programs, and camping. It has a network of resorts that have beaches, wildlife sanctuaries, and cultural landmarks. | $2 | -38% | $493M | $736M | 2.4x | 9.7x | ||
| Median | $4 | -19% | $2B | $2B | 7.2x | 15.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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