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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2024)
Investment Thesis
Eastwest Hotels Limited is a Bengaluru-based hotel company with 55+ years of operating history, incorporated in 1969 as one of Karnataka's early organized hospitality businesses. Bengaluru's transformation into India's technology capital has made it one of the most valuable hotel markets in India, with consistently high occupancy driven by IT sector corporate travel and a growing MICE segment. At ₹625 per share in the unlisted market, the investment reflects both the operational hotel business value and the potential significant appreciation in the company's Bengaluru property holdings accumulated over more than five decades. While limited public disclosure and competitive pressure from branded chains are risks, the combination of prime Bengaluru location, legacy asset base, and structural hospitality demand makes Eastwest Hotels a compelling long-term value play.
Pros
Cons
Business Segments
Hotel Operations
Hotel and accommodation services in Bangalore, Karnataka; hospitality operations at Residency Road location.
Revenue Model
Eastwest Hotels Limited generates revenue primarily from room tariffs (Average Room Rate × Occupancy), Food & Beverage sales at hotel restaurants and banquets, and event/conference room rentals. In Bengaluru's technology-driven business travel market, corporate room bookings, long-stay corporate accommodation contracts, and MICE events are likely major revenue drivers. The company benefits from Bengaluru's structural demand advantage — the city's large technology workforce and major corporate presence generates consistent year-round hospitality demand across business, leisure, and MICE segments.
Detailed Analysis
Growth Plans
Bengaluru's continued emergence as a global technology hub driving sustained business travel demand
India's hospitality sector structural recovery with ARR and RevPAR at multi-year highs post-COVID
Growing MICE sector in Bengaluru from technology industry conferences and corporate events
Potential asset value from long-held Bengaluru property appreciating significantly over 55 years
Recent Developments
Post-COVID recovery drove India's hotel industry to record Average Room Rates (ARR) and RevPAR levels by 2023–2024. Bengaluru, as India's top business travel destination, led the recovery with technology sector corporate travel resuming strongly. Eastwest Hotels, as a long-established Bengaluru property, benefited from this sector-wide recovery.
2022–2024Comparable Companies
Frequently Asked Questions
About Eastwest Hotels
Eastwest Hotels Limited is a Bengaluru-based hotel company incorporated on 23 May 1969, located on the prestigious Residency Road. With over 55 years of hospitality operations, Eastwest Hotels is one of Bengaluru's older established hotel properties. Residency Road in Bengaluru's central business district is a prime hospitality and commercial address, home to several heritage properties and business hotels. Eastwest Hotels' location on this address suggests a centrally-located business hotel catering to corporate and leisure travelers visiting Bengaluru. The company maintains active status with directors including Murali Ananthasivan, Indra Menon Prem, and Jagannathan Suri. The very small paid-up capital of ₹35.63 lakh with authorized capital of ₹1.5 crore indicates a tightly held, modest-scale hotel operation — likely a single-property boutique or business hotel rather than a large hospitality chain. Bengaluru's hospitality sector has grown significantly with the city's emergence as India's technology hub. Corporate demand from IT/ITES companies, startups, and global MNCs visiting the city drives consistent hotel occupancy. A centrally located property like Eastwest Hotels benefits from this corporate demand. For investors, the primary value likely lies in the Residency Road property asset, which may have appreciated significantly given Bengaluru's prime commercial real estate appreciation over 55 years.
Key Milestones
Incorporated December 23, 1969 in Bangalore, Karnataka (CIN: U55101KA1969PLC001795) — 55+ years old
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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India's growing middle class and domestic travel market expanding leisure hotel demand
Industry Tailwinds
Bengaluru's continued emergence as a global technology hub driving sustained business travel demand
India's hospitality sector structural recovery with ARR and RevPAR at multi-year highs post-COVID
Growing MICE sector in Bengaluru from technology industry conferences and corporate events
Potential asset value from long-held Bengaluru property appreciating significantly over 55 years
India's growing middle class and domestic travel market expanding leisure hotel demand
Industry Headwinds
Branded hotel chain competition significantly increasing in Bengaluru
Capital expenditure requirements for aging hotel properties
Technology sector slowdown reducing Bengaluru corporate travel
Future pandemic or travel disruption risk
Very small paid-up capital (₹35.63 lakh) — limited balance sheet
Source: Company Financial Filings
Bengaluru's hotel market has seen massive capacity addition from global and domestic branded chains (Marriott, Hilton, ITC, Taj, Oberoi) and budget aggregators like OYO and Treebo. A smaller, unlisted hotel may face challenges maintaining occupancy and ARR against branded competition.
A hotel property over 50 years old may require substantial renovation, technology upgrades, and sustainability improvements to remain competitive with newer branded properties and meet modern traveler expectations.
Business travel and MICE activity are closely tied to corporate spending and economic cycles. A slowdown in technology sector activity in Bengaluru could reduce occupancy and room rates.
COVID-19 demonstrated the severe vulnerability of the hospitality sector to travel disruptions. Future pandemic events or geopolitical disruptions could again materially impact hotel operations.
Karnataka's hotel and tourism sector is subject to FSSAI, fire safety, pollution control, and local municipal regulations. Compliance costs and regulatory changes can impact operational costs.
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Unlisted subsidiary
ISIN INE600E01011; listed; authorized ₹1.5 Cr, paid-up ₹0.356 Cr; promoter holding 83.99%
Revenue +120.23%, profit +340.79% in FY23 — strong post-COVID hospitality recovery
Registered at 66 Residency Road, Bangalore 560025