20 Top Hospitality Stocks in India

Introduction

Whenever I sit with investors and talk about sectors shaping India’s growth, hospitality always finds its way into the conversation. Think about it—every trip we plan, every restaurant we visit, every hotel stay—it’s all part of this sector. Hospitality stocks in India capture that energy. These businesses are directly tied to how people travel, eat, and spend. And if you’ve noticed, consumer habits have changed dramatically in the last decade.

I’ve watched hospitality sector stocks rise with India’s booming domestic tourism, the growth of online booking platforms, and the steady inflow of international travelers. It’s a sector that reflects both lifestyle shifts and economic growth. But like all cyclical businesses, it has its ups and downs.

In this guide, I’m walking you through 20 hospitality stocks in India—not recommendations, but insights. I’ll share company stories, their position in the industry, and key financial snapshots. Let’s begin.

Why Hospitality Stocks in India Matter

The hospitality sector in India is more than just hotels. It’s restaurants, resorts, amusement parks, and travel services. When India’s middle class grows, these companies grow. When tourists come, they thrive.

Here’s why hospitality sector stocks in India matter for investors like us:

• Tourism Growth: India is now among the top travel destinations globally. Domestic tourism is stronger than ever.

• Consumer Spending: Rising disposable income means more weekend getaways, more dining out, and more luxury stays.

• Government Push: From “Incredible India” campaigns to infrastructure development, policies are helping the sector expand.

• Diversified Businesses: Hotels aren’t just rooms—they’re restaurants, event venues, and lifestyle hubs.

That’s why top hospitality stocks in India get so much attention. They’re directly linked to how India is changing socially and economically.

What I Personally Check Before Looking at Hospitality Stocks

Hospitality businesses can look exciting from the outside, but as an investor, I’ve learned to slow down and check the numbers first. Here are the key things I always consider:

• Market Cap & Scale – Bigger brands often have stronger staying power.

• Revenue Visibility – Seasonal demand affects earnings; consistency matters.

• Debt Levels – Hospitality expansion is capital-heavy; debt ratios tell the story.

• Return Ratios (ROE/ROCE) – Show how efficiently the company runs.

• Brand Power – Repeat customers and a strong reputation keep cash flow steady.

When it comes to hospitality sector stocks in India, the balance between brand strength and financial stability is what I focus on most.

Top 20 Hospitality Stocks in India

Stock-by-Stock Insights

1. Advani Hotels & Resorts (India) Ltd.

Advani Hotels & Resorts is one of those niche hospitality stocks in India that always gets people curious. The company is part of the hotel, resort, and restaurants segment. With a market cap of around ₹528 crore and a share price of ₹57.09, it’s positioned as a mid-sized player in the hospitality sector.

What caught my eye here is its solid return ratios: ROE of 37.08% and ROCE of 49.31%. These are strong numbers, especially in a business where margins are often squeezed. Debt levels are minimal, making it financially stable.

For investors, hospitality sector stocks like Advani represent businesses that have figured out how to balance growth with financial discipline. While not the biggest brand in India, its numbers suggest it’s running efficiently, which is worth paying attention to.

2. Ajwa Fun World & Resort Ltd.

Ajwa Fun World is a different story. Unlike hotels, it runs amusement parks and resorts, making it more of a niche hospitality play. Its market cap is just ₹33.89 crore, with a current share price of ₹53.04.

But here’s where it gets tricky. The company’s fundamentals show weak returns, with ROE and ROCE both in the negative range. That tells me it’s struggling to generate value for shareholders right now.

Still, stocks like Ajwa highlight an important reality of hospitality sector stocks in India—not every company is riding the same growth wave. Some cater to very regional demand. For me, it’s a reminder that not all hospitality stocks in India offer the same stability; some carry higher risk due to business model limitations.

3. Apeejay Surrendra Park Hotels Ltd.

Now, Apeejay Park Hotels is a brand you’ve likely come across if you’ve stayed in metro cities. With a market cap of over ₹3,200 crore and a share price around ₹151, this is one of the more recognized hospitality stocks in India.

What stands out is its presence in the mid-market hotel category, which is growing fast in India. Business travelers and younger customers often prefer Park Hotels because they’re stylish but not over-the-top expensive.

Financially, it’s running on decent fundamentals with manageable debt. Its PE ratio shows that the market is already pricing in growth expectations. For me, Apeejay highlights how brand positioning is just as important as financials in hospitality sector stocks in India. It’s the brand recall that gives it staying power.

4. Apex Buildsys Ltd.

Apex Buildsys is a unique listing in the hospitality space because it focuses on amusement and recreation. With a tiny market cap of ₹63 crore and a share price of just ₹9.19, it’s a small-cap that often flies under the radar.

But if you look deeper, the financials don’t look attractive at first glance. Negative ROE and ROCE figures suggest operational challenges. That’s not unusual for smaller hospitality stocks in India, where scale is limited, and costs eat into margins.

Still, Apex Buildsys represents the diversity of the hospitality sector in India. It’s not just hotels and restaurants—it’s clubs, recreation centers, and leisure activities. The sector is much broader than most people think.

5. Apollo Sindoori Hotels Ltd.

Apollo Sindoori Hotels is part of the larger Apollo Group ecosystem, which gives it strong brand visibility. With a share price of ₹1,430 and a market cap close to ₹372 crore, it’s a mid-sized player in hospitality sector stocks in India.

What I notice about Apollo Sindoori is its consistent focus on catering and hospital-related hospitality services. This is a slightly different angle compared to typical hotels and resorts. That unique positioning gives it a steady revenue stream.

With ROE of 8.68% and ROCE of 12.64%, it’s not among the highest performers but maintains a balanced financial profile. For me, Apollo Sindoori reflects how hospitality stocks in India are evolving—some are blending with healthcare, creating niche opportunities.

6. Aruna Hotels Ltd.

Aruna Hotels, with a market cap of just ₹31.5 crore and share price of ₹9.30, is another small-cap hospitality stock in India. Its presence in the hotel and resort business is modest, and the fundamentals reflect that.

The company’s ROE and ROCE are currently negative, showing operational struggles. This isn’t uncommon for smaller hospitality stocks that face intense competition from larger, branded chains.

Still, I always say small-cap hospitality stocks like Aruna can serve as a lens into regional demand trends. They may not be on every investor’s radar, but they tell us where localized opportunities—and challenges—are emerging in the hospitality sector stocks space.

7. Ashram Online.Com Ltd.

Ashram Online.Com is one of those micro-cap hospitality stocks that raise eyebrows. With a market cap of less than ₹7 crore and share price of ₹5.74, it’s extremely small.

Its fundamentals are almost flat—ROE is slightly negative, revenue visibility is limited, and business activity remains modest. Yet, companies like Ashram Online.Com remind me of the vast diversity in hospitality sector stocks in India. From luxury chains to tiny regional players, the range is huge.

For investors, this stock shows the ultra-high-risk end of the spectrum. Liquidity is low, financials are weak, and business operations aren’t robust. Still, I always keep such names on my radar—not to invest, but to observe how different business models evolve (or struggle) in the Indian hospitality landscape.

8. Asian Hotels (East) Ltd.

Asian Hotels (East) is a mid-cap hospitality stock in India with a market cap of about ₹273 crore and share price around ₹158. Unlike micro-caps, it has a more stable presence in the sector.

Its financials are decent—ROE of 7.39% and ROCE of 11.78% show it’s managing operations reasonably well. Debt isn’t excessive, which adds a layer of stability.

What I find interesting about Asian Hotels (East) is its regional strength. While larger hotel chains capture pan-India demand, companies like this thrive in specific geographies. For me, it’s a reminder that hospitality sector stocks in India often succeed by focusing on regional dominance rather than competing nationwide.

9. Asian Hotels (North) Ltd.

With a market cap of ₹654 crore and share price above ₹336, Asian Hotels (North) is one of the stronger regional hospitality players. However, the financials don’t look too appealing—negative ROE and ROCE suggest inefficiencies.

Despite this, I’ve noticed that Asian Hotels (North) carries brand recognition in its operating regions. Sometimes, that brand pull helps companies survive even with weaker numbers. For me, it’s a lesson in how hospitality stocks in India aren’t always about clean financials—brand value often plays an outsized role.

Still, compared to other top hospitality stocks in India, Asian Hotels (North) struggles to deliver returns. It sits somewhere in between—a known name but not necessarily a strong financial performer.

10. Asian Hotels (West) Ltd.

Asian Hotels (West) has a smaller market cap of ₹164 crore and share price near ₹141. What makes this company stand out is that it operates in a very localized niche, catering specifically to western India.

However, the fundamentals are weak. ROE is negative, and profitability remains a challenge. This shows the cyclicality of hospitality sector stocks in India—regional players often suffer when demand slows or competition intensifies.

For me, Asian Hotels (West) is another reminder that hospitality stocks in India vary widely. Some thrive on strong branding and scale, while others, like this one, operate in narrow spaces with limited growth. It adds to the mosaic of how diverse the sector really is.

11. Autoriders International Ltd.

Autoriders International is an interesting case. With a market cap of ₹66 crore and share price of ₹1,139, it falls under the travel services side of hospitality.

Unlike traditional hotels, Autoriders builds its business around travel-related services. Its returns look healthy—ROE of 34% and ROCE of 24%. Those numbers stand out in a sector where many players struggle to stay profitable.

For me, Autoriders shows that hospitality sector stocks in India aren’t limited to hotels and restaurants. Travel services are an integral part of the ecosystem, and companies that can deliver efficiency here often generate strong returns. It’s a refreshing example of how hospitality in India isn’t one-dimensional.

12. Axis Solution Ltd.

Axis Solution operates in the travel services segment as well. With a market cap of ₹104 crore and share price of ₹22, it’s another small-cap name in the hospitality sector.

But here’s what’s surprising—the company has very high returns, with ROE of 111% and ROCE of 45%. That’s unusual for a company of this size. It suggests extremely efficient use of capital, even if scale is modest.

When I look at hospitality stocks in India, Axis Solution reminds me not to ignore the smaller travel service players. While they don’t have the scale of large hotel chains, their niche focus can sometimes produce standout financial metrics.

13. Barbeque-Nation Hospitality Ltd.

Barbeque Nation is one of the most recognizable hospitality brands in India. With a market cap close to ₹1,000 crore and share price around ₹254, it represents the restaurant side of hospitality stocks.

Its brand is built on customer experience—live grills, interactive dining, and an all-you-can-eat model. That strong positioning keeps customers coming back.

However, financials show challenges—negative ROE and ROCE highlight operational inefficiencies. Expansion costs and competitive pressures weigh on returns. For me, Barbeque Nation is a reminder that even strong consumer brands among hospitality sector stocks in India can face financial strain. Still, its brand equity is undeniable, which is why it continues to attract attention from investors and customers alike.

14. Benares Hotels Ltd.

Benares Hotels is a high-value hospitality stock with a market cap of ₹1,202 crore and share price above ₹9,200. That’s a premium price tag compared to most hospitality stocks in India.

Its returns are solid—ROE of 28% and ROCE of 38%. These numbers suggest efficient management and strong brand positioning. The company operates in a niche luxury segment, which explains the premium valuation.

For me, Benares Hotels highlights how luxury positioning within hospitality sector stocks in India can deliver strong returns. Customers in this category are less price-sensitive, giving companies like this an advantage.

15. Best Eastern Hotels Ltd.

Best Eastern Hotels is a tiny company with a market cap of just ₹26 crore and share price around ₹15. It’s not a big player, but it’s part of the hotel and resort ecosystem.

Financials show very modest returns, with ROE around 0.45%. That’s close to break-even performance. For me, this reflects the challenge small-cap hospitality stocks in India face—limited brand reach and tight margins.

Still, names like Best Eastern give perspective on how broad the hospitality landscape is. From luxury giants to micro players, the range is wide. Each one tells a story about demand in different customer segments.

16. Blue Coast Hotels Ltd.

Blue Coast Hotels, with a market cap of ₹148 crore and share price around ₹86, is another mid-sized hospitality stock.

However, its financials are weak—negative ROE and ROCE show that it’s not delivering shareholder value right now. Debt remains a challenge, and that’s a recurring theme among smaller hospitality sector stocks in India.

For me, Blue Coast reflects the high-risk side of this sector. Not all hospitality stocks in India benefit from booming tourism. Some are weighed down by debt and operational inefficiencies. It’s a reminder that picking hospitality stocks requires looking carefully at balance sheets, not just brand names.

17. Chalet Hotels Ltd.

Chalet Hotels is one of the most prominent names among top hospitality stocks in India. With a massive market cap of over ₹20,400 crore and share price above ₹930, it’s a heavyweight in the sector.

What impresses me here is its scale and financial strength. ROE of 5.85% and ROCE of 11.41% show it’s generating reasonable returns despite being capital-intensive. Debt is present, but manageable for a company of this size.

For me, Chalet Hotels reflects the premium end of hospitality sector stocks in India. It has strong brand positioning, multiple properties across prime locations, and steady demand from both corporate and leisure travelers. This is the kind of scale that gives long-term resilience.

18. CHL Ltd.

CHL Ltd. is a smaller hospitality company with a market cap of ₹200 crore and share price of ₹36. It operates hotels and resorts but hasn’t delivered strong financials in recent years.

Negative ROE and ROCE show operational challenges, while debt levels add pressure. For me, CHL is another example of the smaller end of hospitality sector stocks in India that face intense competition from bigger chains.

Still, CHL is worth noting because it shows how fragmented the industry remains. Not every hospitality stock in India has the strength of a Chalet or a Benares. Many are still navigating growth pains.

19. Cindrella Hotels Ltd.

Cindrella Hotels is a micro-cap with market cap of ₹25 crore and share price of ₹69. It operates in the hotel and resort business but remains very small in scale.

Its ROE of 5.67% and ROCE of 3.11% suggest modest profitability, which is actually better than some of its peers in the micro-cap segment.

For me, Cindrella Hotels is a reminder of how hospitality sector stocks in India are often deeply regional. These companies may not have nationwide presence, but they cater to local demand effectively. It’s not a top hospitality stock in India by size, but it adds color to the sector’s diversity.

20. Coffee Day Enterprises Ltd.

Coffee Day Enterprises, known for Café Coffee Day, is one of the most recognized consumer-facing hospitality names in India. With a market cap of ₹800 crore and share price of ₹37.86, it represents the restaurant and café segment.

But here’s the reality—the company has struggled financially in recent years. Negative ROE and ROCE reflect mounting debt and operational challenges. Despite strong brand recall, the financial strain is visible.

For me, Coffee Day shows how even well-known hospitality stocks in India can face turbulence. A strong consumer brand doesn’t always translate into financial strength. It’s a reminder to always look at both—brand presence and financial fundamentals—before drawing conclusions about hospitality sector stocks in India.