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BEST EVER Quarter REVENUE
ADR INR 12,944 up 18 %
CONSOLIDATED REVENUE INR 4.6 bn, up 22%
PAT INR 965 mn, up 37%
Key Highlights for Q3FY25:
· Total Income at INR 4.6 bn, up 22% as compared to Q3 FY24
· Total EBITDA at INR 2.1 bn, up 23% as compared to Q3 FY24
· Hospitality Segment Performance:
o Revenue at INR 4.0 bn, up by 17% from Q3 FY24
o ADR at INR 12,944, up by 18% over Q3 FY24
o Occupancy was at 70%
o RevPAR improved by 16% YoY to INR 9,090
o EBITDA was at INR 1.8 bn up by 16% from Q3 FY24
The Rental and Annuity segment saw an additional 0.4 msf leasing within the quarter.
· Chalet Hotels Limited was honoured as one of the top 5 hotel developers in India by the prestigious Hospitality Horizon Awards 2024.
· Chalet Hotels Limited has received the Great Place To Work ®, India certification for the sixth consecutive year.
Particulars |
Q3FY25 |
Q2FY25 |
QoQ% |
Q3FY24 |
YoY% |
FY 24 |
Total Income |
4,645 |
3,832 |
21% |
3,799 |
22% |
14,370 |
EBITDA |
2,114 |
1,556 |
36% |
1,722 |
23% |
6,044 |
Margin % |
45.5% |
40.6% |
4.9 pp |
45.3% |
20 bps |
42.1% |
PBT |
1,184 |
794 |
49% |
887 |
33% |
2,694 |
Tax |
-218 |
-2,179 |
|
-180 |
|
88 |
PAT |
965 |
-1,385 |
- |
706 |
37% |
2,782 |
Segmental Performance for Q3FY25
INR Million
Hospitality Performance |
|
|
|
|
|
|
Particulars |
Q3FY25 |
Q2FY25 |
Var(%) |
Q3FY24 |
Var(%) |
FY 24 |
ADR |
12,944 |
10,532 |
23% |
10,974 |
18% |
10,718 |
Occupancy |
70% |
74% |
-3% |
71% |
-1% |
73% |
RevPAR |
9,090 |
7,756 |
17% |
7,838 |
16% |
7,776 |
Total Revenue |
4,005 |
3,352 |
19% |
3,434 |
17% |
12,930 |
EBITDA |
1,847 |
1,387 |
33% |
1,589 |
16% |
5,742 |
EBITDA Margin % |
46.1% |
41.4% |
4.7 pp |
46.3% |
-0.1 pp |
44.4% |
Rental Annuity |
Q3FY25 |
Q2FY25 |
Var(%) |
Q3FY24 |
Var(%) |
FY 24 |
Revenue |
577 |
419 |
38% |
301 |
91% |
1,241 |
EBITDA |
455 |
323 |
41% |
250 |
82% |
988 |
Development Pipeline Updates:
· Hotel inventory expansion at Bengaluru Marriott Hotel Whitefield (~125-130 rooms) in Q4 FY25.
· Renovation, upgradation and expansion of The Dukes Retreat (65 rooms) completion in Q1 FY26.
· ‘Taj’ at the T3 Terminal Delhi International Airport (385-390 rooms), ‘Hyatt Regency’ at Airoli, Navi Mumbai (~280 rooms) and CIGNUS POWAI® Tower II in Mumbai are scheduled for completion in FY27.
· Renovation of Four Points by Sheraton Navi Mumbai has commenced. Currently 35 rooms are under renovation and not available for sale.
· New leisure hotel in Goa scheduled for commencement during FY28.
“Our strongest-ever quarterly performance, reflects our relentless pursuit for excellence. We continue to invest in value accretive growth, fostering innovation and sustainable progress. Being recognised as a Great Place to Work for the sixth consecutive year further solidifies our position as a modern leader, delivering outstanding value to all stakeholders.”
Sanjay Sethi, MD & CEO, Chalet Hotels Limited ,
About Chalet Hotels Limited:
Chalet Hotels Limited (CHL), part of K Raheja Corp, is an owner, developer, asset manager and operator of high-end hotels and resorts in India, comprising of 10 operating hotels & resorts with 3,052 keys across globally recognized hospitality brands including JW Marriott, The Westin and Novotel, to name a few. Additionally, the company has ~1,000 rooms under development. Chalet is augmenting its commercial real estate portfolio from the current size 2.4 million square feet to 3.3 million square feet.
Chalet Hotels’ enhanced sustainability performance is reflected in the latest Dow Jones Sustainability Index with an overall score of 57 (CSA Score Date: 16/02/2024). It is also the first hospitality company across the globe to join the three key Climate Group initiatives - RE100, EP100 and EV100.
For more information about the company, please visit www.chalethotels.com.
This press release may contain "forward-looking statements" including statements related to the expected effects on our business, our future plans, business prospects, anticipated savings, financial results, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions, capital expenditure plans, liquidity and working capital expectations, and similar statements concerning anticipated future events and government directions. These are not historical facts and may not be accurate. The actual results may vary from our expectations herein, which are based on our own assumptions. The assumptions in this note are based on internal deliberations by the management and its understanding based on its interactions with the various stakeholders. The company undertakes no obligation to continue to give such statements in future.