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Chalet Hotels reports Q1 FY25 results
Chalet Hotels Limited announced its results for the first quarter of the fiscal year 2025 ending June 30, 2024.
The total income for Q!FY25 according to the report issued by the company stood at INR 3.7 billion, up 17 percent as compared to Q1 FY24. Total EBIDTA was at INR 1.5 billion, up 31 percent compared to Q1FY24.
In the hospitality segment, the company's revenue stood at INR 3.3 billion, up by 15 percent from Q1 FY24. ARR was at INR 10,466, up marginally by 1 percent over the same period in 2024. Occupancies were at 70 percent and RevPAR improved 2 percent YoY to INR 7.361, the company said. EBITDA was at INR 1.3 billion, up 18 percent from Q1 FY24.
Speaking on the financial results, Sanjay Sethi, MD & CEO, Chalet Hotels Limited said, “The performance of Q1 FY25 is testimony to our growth-based strategy. In a quarter that witnessed the unique challenge of elections in the world’s largest democracy, the best ever Q1 in our company’s history, was driven through a mix of capacity growth as well as operating efficiencies. Our operating performance reflected diligent management and is expected to further strengthen on the back of industry tailwinds fueled by favourable demand-supply arbitrage.”
On the hotel pipeline, the company said its inventory expansion at Bengaluru Marriott Hotel Whitefield (125-130 rooms) and The Dukes Retreat Lonavala (65 rooms) wasrunning as per schedule for completion in Q3 FY25.
‘Taj’, New Delhi Airport (385-390 rooms) and ‘Hyatt Regency’, Airoli, Navi Mumbai (280 rooms) were scheduled for completion in FY26 & FY27 respectively and CIGNUS POWAI Tower II completion was expected by FY27.
Chalet Hotels Limited also announced its commitment on World Environment Day to achieving Net-Zero Greenhouse Gas (GHG) Emissions by 2040, aligning with the Paris Agreement's goal to limit global temperature rise to 1.5°C.
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 870 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.
Source: Hospitality World