Monday, February 3, 2025

Chalet Hotels Limited announces its results for the third quarter of the fiscal year 2025 ending December 31, 2024.

 

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:
    • Revenue at INR 4.0 bn, up by 17% from Q3 FY24
    • ADR at INR 12,944, up by 18% over Q3 FY24
    • Occupancy was at 70%
    • RevPAR improved by 16% YoY to INR 9,090
    • EBITDA was at INR 1.8 bn up by 16% from Q3 FY24

 

Other Highlights:

  • 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.

 

Consolidated Performance for Q3FY25                                                                       INR Million

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.

Speaking on the financial results, Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited says, “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.”

 



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