LTLemon Tree Hotels541233Quarterly results

Lemon Tree Hotels Q2 FY27: best-ever Q2 revenue, EBITDA and PAT; restructuring into Lemon Tree and Fleur platforms

Q2 FY27 total revenue ₹363.8 Cr, up 18.1% YoY; net EBITDA up 22.4% to ₹162.2 Cr; PAT ₹79.8 Cr, up 90.2%, with ₹22.1 Cr exceptional items.

By ScoutQuest · Thu 5 Nov 2026, 10:43 PM IST · 2 min read

Total Revenue

₹363.8 Cr, up 18.1% YoY

Net EBITDA

₹162.2 Cr, up 22.4%; margin 44.6%, up 157 bps

PAT

₹79.8 Cr, up 90.2%, with ₹22.1 Cr exceptional items

Period

Q2 FY27

Positioning

The company presents itself as an asset-light hotel operator with 138 operational hotels, 12,131 operational rooms and 11,930 pipeline rooms as on 30 September 2026, running brands from Keys by Lemon Tree to Aurika Hotels & Resorts.

📈 Q2 FY27 total revenue was ₹363.8 Cr, up 18.1% year on year, with net EBITDA of ₹162.2 Cr up 22.4% and net EBITDA margin at 44.6%, up 157 bps. PAT rose 90.2% to ₹79.8 Cr, but ₹22.1 Cr of exceptional items lifted PBT after exceptional items to ₹110.9 Cr (up 99%); PBT before exceptional items was ₹88.8 Cr, up 59%. The company calls it its best-ever Q2 on ARR, revenue, EBITDA, PBT, PAT and cash profit.

📌 Operationally, gross ARR was ₹6,751 (up 8.1%), occupancy 76.1% (up 633 bps) and RevPAR ₹5,137 (up 18%). The portfolio stood at 138 operational hotels, 12,131 operational rooms and 11,930 pipeline rooms as on 30 September 2026; the presentation says 8 managed and franchised hotels with 523 rooms were opened and 11 with 825 rooms signed in the quarter.

💰 Fee income is the asset-light engine: total management fees of ₹40.8 Cr, up 19%, and fees from third-party hotels of ₹18.7 Cr, up 30%, with cost of debt at 7.44%, down 28 bps. The presentation states the restructuring gives Lemon Tree an asset-light operator role and Fleur the asset-ownership role funded by a new equity line from Warburg, with Lemon Tree holding a meaningful ~41% stake.

🏭 For expansion, the presentation lists five owned or leased hotels under development: Aurika Shimla (90 rooms, FY27, ~₹122 Cr already incurred), Aurika Shillong (165 rooms, FY28, ~₹47 Cr), Aurika Nehru Place Delhi (610 rooms, CY31, capex TBD), Aurika Varanasi (47 rooms, FY29, ~₹1 Cr) and Lemon Tree Premier Bandra East Mumbai (172 rooms, FY30, ~₹129 Cr). On ESG it reports FY26 progress of 39.38% renewable energy against a 50% target and 13.00% women in the workforce against 15%.

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