K Raheja Corp’s Chalet Hotels sees growth led by both occupancy and rates
K Raheja Corp’s Chalet Hotels sees growth led by both occupancy and rates

News

K Raheja Corp’s Chalet Hotels sees growth led by both occupancy and rates

Mumbai-based Chalet Hotels is looking at a blend of occupancy and rate to drive growth. Sanjay Sethi, Managing Director and CEO of the international high-end hotel chain pointed out the six percentage point increase in occupancy rates to 71% in the last quarter. Rates for existing hotel rooms have risen by 11% due to recent inventory expansions, he said.
Sethi sees margin exceeding 45% in the second half of the financial year 2024 (H2FY24). In terms of revenue, he noted, the second half makes up for 55% of the annual numbers.
Chalet Hotels is in the process of developing approximately 1,000 more rooms, which are currently at various stages, across the country, the MD and CEO had told CNBC-TV18 in an interview in August 2023.
The premium hotel brand currently manages upscale hotels in Mumbai, Hyderabad, and Bengaluru under renowned names like JW Marriott, Westin, Marriott, Marriott Executive Apartments, and Renaissance.
Sethi highlighted that new hotel additions would contribute to incremental revenues and earnings before interest, taxes, depreciation, and amortisation (EBITDA).
Read Here | Thai billionaire plans 250 more hotels in next 3 years as tourism rebounds
While acknowledging that new hotels might initially exhibit slower EBITDA in the first one or two quarters, Sethi expects them to enhance EBITDA margins progressively.

Source: CNBC

x
Important Notice

We at K Raheja Corp including its group entities (“K Raheja Corp Group”) have been made aware of websites / URLs / social media handles being used to undertake fraudulent activities whereby certain individuals/third parties are impersonating as being part of K Raheja Corp Group and claiming and/or soliciting monies on the pretext of promising job opportunities and finance trading on our behalf.

We hereby clarify that the above fraudulent activities are being done without any authority from K Raheja Corp Group in a malicious and vicious attempt by such individuals/third parties to make unlawful gains.

Warning

We urge the public at large to be cautious and not engage in any form of communication/s with such fraudulent individuals/third parties /websites/URLs/social media handles impersonating K Raheja Corp Group and promptly report the matter to law enforcement agencies for necessary action.

Authentic Communication

For any genuine enquiries with respect to employment or to know more about our portfolio, please visit our official website: www.krahejacorp.com

Stay safe, and thank you for your understanding.