Apeejay Surrendra Park Hotels posts strong Q2 FY26 results, eyes expansion

Apeejay Surrendra Park Hotels Limited reported significant financial and operational growth for Q2 and H1 FY26. Q2 revenue increased by 16.8% year-on-year, with operating EBITDA rising by 14.9%. The company achieved a 93% occupancy rate and an 11.9% year-on-year growth in RevPAR. For the first half of FY26, consolidated net revenue grew by 15.5% to INR 320 crore, with EBITDA at INR 94 crore and profit after tax at INR 30 crore.

Strategic expansion includes the acquisition of a 90% stake in Zillion Hotels & Resorts Private Limited for approximately INR 206 crore, marking its entry into Mumbai, and plans to acquire 31 rooms in Kochi. ASPHL aims to reach 50 operational hotels by the end of this financial year, expanding its portfolio from 36 hotels (2,436 keys) to nearly 3,000 keys. The company also made a payment of approximately INR 24 crore to the Kolkata Municipal Corporation to commence work on its EM bypass project, a mixed-use development expected to be completed within three years.

The company's F&B brand, Flurys, recorded a 22% growth in its topline in Q2 and plans to expand to 130 stores by Q4 FY26, with a focus on cafe formats. Flurys' EBITDA margin is currently in the high single digits for H1 FY26, with expectations for further improvement.