IHCL's domestic hotel demand strong even as Middle East crisis drags on Dubai business: Puneet Chhatwal

IHCL MD Puneet Chhatwal said the company is on track with its 12-14% topline growth guidance for the year, with potential additional 100 basis points of upside once Middle East disruption eases, citing a roughly 73% jump in domestic RevPAR premium. Three operational hotels in Dubai could take close to a year to return to pre-crisis rate levels, but management remains confident in long-term recovery supported by falling crude prices and UAE's financial strength. The management fee business, currently at about Rs 700-800 crore, is expected to cross Rs 1,000 crore within a year to a year-and-a-half, while the development pipeline stands at around 32,000 keys to be delivered by 2030-31.