Chalet Hotels Limited announces its results for the first quarter of the fiscal year 2025 ending June 30, 2024.
Key highlights for Q1 FY25:
- Total income at INR 3.7 billion, up 17% as compared to Q1 FY24
- Total EBITDA at INR 1.5 billion, up 31% as compared to Q1 FY24
- Hospitality segment performance:
- Revenue at INR 3.3 billion, up by 15% from Q1 FY24ARR at INR 10,446, up by 1% over Q1 FY24Occupancy was at 70%RevPAR improved by 2% YoY to INR 7,361
- EBITDA was at INR 1.3 billion, up by 18% from Q1 FY24
Other highlights:
- CHL 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.
Consolidated performance for Q1 FY25
INR Million
| Particulars | Q1FY25 | Q1FY24 | YoY % | Q4FY24 | QoQ % | FY24 | |
| Total Income | 3,691 | 3,146 | 17% | 4,244 | -13% | 14,370 | |
| EBITDA | 1,483 | 1,136 | 31% | 1,890 | -22% | 6,044 | |
| Margin | 40.2% | 36.1% | 4.1pp | 44.5% | -4.4pp | 42.1% | |
| PAT | 606 | 887 | -32% | 824 | -26% | 2,782 | |
| EPS (Rs.) | *2.79 | *4.32 | *4.01 | 13.54 |
*not annualised
Segmental performance for Q1 FY25
INR Million
| Particulars | Q1FY25 | Q1FY24 | YoY % | Q4FY24 | QoQ % | FY24 |
| HOSPITALITY | ||||||
| Occupancy | 70% | 70% | – | 76% | -6pp | 73% |
| Average Room Rate (ARR) | 10,446 | 10,317 | 1% | 11,862 | -12% | 10,718 |
| RevPAR | 7,361 | 7,182 | 2% | 8,984 | -18% | 7,776 |
| Revenue | 3,255 | 2,822 | 15% | 3,830 | -15% | 12,930 |
| EBITDA | 1,341 | 1,141 | 18% | 1,832 | -27% | 5,742 |
| Margin | 41.2% | 40.4% | 0.8pp | 47.8% | -6.6 pp | 44.4% |
| Rental and Annuity | ||||||
| Revenue | 355 | 285 | 24% | 353 | 1% | 1241 |
| EBITDA | 264 | 227 | 16% | 272 | -3% | 988 |
Development pipeline updates:
- Hotel inventory expansion at Bengaluru Marriott Hotel Whitefield (~125–130 rooms) and The Dukes Retreat Lonavala (65 rooms) are running as per schedule for completion in Q3 FY25
- Taj, New Delhi Airport (385–390 rooms) and Hyatt Regency, Airoli, Navi Mumbai (~280 rooms) are scheduled for completion in FY26 and FY27, respectively
- CIGNUS POWAI® Tower II: Completion by FY27
Speaking on the financial results, Sanjay Sethi, MD and CEO of Chalet Hotels Limited, said, “The performance of Q1 FY25 is testimony to our growth-based strategy. The quarter witnessed the unique challenge of elections in the world’s largest democracy. However, Q1 FY25 marked the best-ever Q1 in our company’s history, driven by 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.”
