Chalet Hotels Limited announced its results for the second quarter and half year ending September 30, 2023.
Key Highlights for Q2FY24:
· Total Income at INR 3.2 bn, up 27% as compared to Q2FY23
· EBITDA at INR 1.3 bn, up 48% as compared to Q2FY23
· Hospitality Segment Performance:
o Revenue at INR 2.8 bn, up by 27% from Q2FY23
o ARR at INR 9,610, up by 21% over Q2FY23
o Occupancy was at 73%, expansion of 2 percentage points over Q2FY23
o RevPAR improved by 25% YoY to INR 7,034
o EBITDA was at INR 1.2 billion, up by 45% from Q2FY23
· Consolidated PAT at INR 364 million, up by 2.3x YoY
Sanjay Sethi, MD & CEO, Chalet Hotels Limited, said, “The first half of FY24 continues to demonstrate persistence in RevPAR growth along with maintaining an all-round healthy growth trajectory with strong flow throughs and cashflows. In addition to a seasonally better second half, we are at the cusp of completing a few of our large capex projects which will further enhance operating performance. The tailwinds of the sector and our strengthening balance sheet are encouraging, and we look forward to accelerating growth through value accretive investments.”
