Earnings call transcript: Leela posts strong Q2 2027 growth, stock slips

Leela Palaces Hotels & Resorts reported strong Q2 2027 growth, with operating revenue increasing 33% year over year to INR 4,119 million and operating EBITDA rising 36% to INR 1,877 million. The company's results surpassed expectations, although its stock dipped slightly following the earnings call. Direct bookings contributed 15.1% of room revenue in H1 FY 2027, while the company's net debt to LTM EBITDA improved to 1.4x from 1.6x in March and 3.7x a year earlier.

Leela's RevPAR grew 30% and the EBITDA margin improved to 46%, demonstrating the company's pricing power and operational efficiency.

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