Sterling Delivers Record Q1 Performance, Sets Stage for Accelerated FY26 Growth

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  • Achieves highest-ever Q1 revenue and EBITDA with continued debt-free status

  • Adds two new resorts, strengthens asset-right expansion model

  • Guest delight soars with 30 resorts winning TripAdvisor awards


Sterling Holiday Resorts Ltd. has kicked off FY26 on a strong note, reporting its best-ever first-quarter performance. With an 8% year-on-year revenue growth to ₹1,392 million and a robust 25% rise in EBITDA to ₹514 million, Sterling continues to lead the way in delivering upscale experiential hospitality across India. The company also posted a 27% growth in Profit Before Tax to ₹371 million and remains debt-free, with cash reserves touching ₹2,963 million.


Even as Sterling increased its available room inventory by 21% year-on-year, the company maintained strong pricing power, with Average Room Rates (ARR) holding firm at ₹7,089. Room revenue rose 11% and Food & Beverage revenue surged by 16%, indicating balanced and healthy growth.


Mr. Vikram Lalvani, MD & CEO, Sterling Holiday Resorts Ltd. said, "This quarter marks the start of a pivotal shift for Sterling — from a phase of transformation to one of high-performance execution. With a strong foundation in people, brand, and technology, we are now poised to scale with purpose, delivering exceptional holidays while creating lasting value."


With the addition of Sterling Kastoori in Rudraprayag and Sterling Vanavasa in Lansdowne the network now spans 54 destinations across the country – with a dominant presence in states like Rajasthan, Uttarakhand, Tamilnadu and Kerala; and in segments like wildlife and across the Himalayas.

Sterling’s commitment to Guest Delight continues to be recognised nationally: 30 resorts were honoured with TripAdvisor Travelers’ Choice Awards, including Sterling Kanha which earned “Best of the Best” for the third consecutive year, underscoring consistently exceptional service delivery.

Through its ESG initiative, Sterling Sankalp, the company advanced key sustainability efforts such as expanding solar and heat pump installations and eliminating plastic bottled water with in-house bottling plants across multiple resorts. Its partnership with the Fairfax India Charitable Foundation facilitated the installation of dialysis machines across seven hospitals, extending its impact beyond hospitality.


Looking ahead, Sterling is poised for an accelerated growth trajectory in FY26, backed by a robust pipeline of over 20 resorts, deepening domestic travel trends, and a strong foundation in technology, brand, and people. As it transitions from transformation to high-performance execution, Sterling is set to scale responsibly while continuing to delight guests across India.


About Sterling Holiday Resorts Limited

Sterling Holiday Resorts Limited is a leading hospitality company in India that has a portfolio across 54 unique destinations, comprising over 63 resorts, hotels and retreats with over 3,200 keys operational (including Nature Trails). The company caters to leisure stays, Meetings and Conferences (MICE), Destination Weddings, Reunions, Picnics and Group travel. The company offers a network of properties across hills, beaches, jungles, waterfront, adventure, heritage, pilgrimage and drive-to locations.

Sterling has resorts at some of the best holiday destinations in India, including Alleppey, Amritsar, Anaikatti, Athirappilly, Badami, Bokaro, Corbett, Chail, Coorg, Darjeeling, Dehradun, Gangtok, Gir, Goa, Godavari, Guruvayur, Haridwar, Jaisalmer, Kalimpong, Kanha, Karwar, Kodaikanal, Kufri, Lansdowne Forest Division, Lonavala, Madurai, Manali, Mount Abu, Munnar, Mussoorie, Nainital, Ooty, Panchgani, Pench, Puri, Pushkar, Ranthambore, Rishikesh, Rudraprayag, Sariska, Shimla,

Srinagar, Thekkady, Tiruvannamalai, Tipeshwar, Udaipur, Vythiri, Wayanad, Yelagiri and Yercaud.


Sterling Holiday Resorts Limited is a part of Fairfax Financial Holdings Limited and is a 100% independently managed, wholly owned subsidiary of Thomas Cook (India) Limited (TCIL), India's leading integrated travel and travel-related financial services.