Chalet Hotels registers 52% growth in PAT in FY ‘24
Chalet Hotels registers 52% growth in PAT in FY ‘24


Chalet Hotels registers 52% growth in PAT in FY ‘24

Chalet Hotels Limited, part of K Raheja Corp, has recorded its highest hospitality revenue at INR 3.8 billion in Q4Fy24, registering 24 percent YoY growth and record consolidated income at INR 14.3 billion with a 22 percent growth over Fy23.

Chalet Hotels Limited, a listed hotel company with a portfolio of 10 operating hotels and over 3,000 rooms in the country, has announced its financial results of Q4fy2024 and the consolidated results for Fy2024. As per the official announcement, the hotel company has recorded its highest profit after tax (PAT) in Fy2024 at 52 percent.

The PAT for the company in Fy2024 was INR 2,782 million as against INR 1,833 million in Fy23. In terms of the total income, the company registered a growth of 22 percent in the Fy24 financial at INR 14,370 m compared to INR 11,780 m in FY '23.

In all performance parameters, the hotel company has breached the previous records in FY2024. The consolidated ARR for the company stood at INR 10,718, which was a 17 percent growth (INR 9,169) over FY’ 23. Similarly, RevPAR for the full financial year marked an 18 percent growth at INR 7,776.


This phenomenal growth has been achieved with just 1 pp (percent point) rise in the average annual occupancy. The average occupancy for the consolidated year was 73 percent for Chalet Hotels compared to 72 percent last financial year.

The revenue and EBITDA had increased 24 percent each in Q424 compared to same quarter last year. Consolidated EBITDA at INR 6.0 BN was up by 20 percent with margin at 42.1 percent for the company.

Speaking on the financial report, Sanjay Sethi, MD & CEO, Chalet Hotels Limited, “I am very pleased with the consecutive record quarters of operating performances at Chalet. Historically, Chalet has followed the path of high capital productivity through an optimal leverage in its balance sheet. This strength, along with exciting portfolio and pipeline growth, a successful capital raise and with our ability to deliver high returns, reiterates our commitment to our stakeholders. The team also continued to deliver strong progress on our ESG plans.”

Chalet Hotels Limited completed the acquisition of Marriott Aravali resort last year and also launched a 168-room The Westin Hyderabad HITEC City at Mindspace Hyderabad. It has also added 88 rooms to Novotel Pune Nagar Road property last year.

As per the report, the company has successfully raised INR 10 billion through Qualified Institutional Placement (QIP), the process concluded on April 03, 2024. The funds have been used to pare down debt.

Source: Hospitality World