Motilal Oswal stays bullish on hotels; sees up to 34% upside in Indian Hotels, Lemon Tree, Ventive, IndiGo

Brokerage reiterates Buy ratings with targets of Rs 820 (Indian Hotels), Rs 150 (Lemon Tree), Rs 780 (Ventive) and Rs 5,850 (IndiGo). Thesis rests on robust ARRs, occupancy, MICE, weddings and domestic travel powering 9-11% RevPAR growth into FY27, alongside 19% revenue and 14% Ebitda growth.

— Source publishedFri, 19 Jun, 2026, 10:32 IST·First seen Fri, 19 Jun, 2026, 10:42 IST·Source NDTV Profit

What happened

Indian Hotels Company (IHCL) · Motilal Oswal reiterates Buy on Indian Hotels (TP Rs 820), Lemon Tree (Rs 150), Ventive (Rs 780) and Indigo (Rs 5,850), citing

Key facts

  • Rs 820
  • Rs 150
  • Rs 780
  • Rs 5850
  • 19% revenue growth
  • 14% Ebitda growth
  • 12-15% RevPAR
  • 9-11% RevPAR FY27
  • 34% upside

Why this matters

Bullish hotel sentiment and stretched targets make this an opportune window to scout mid-tier hospitality assets before valuations re-rate higher.