Chalet Hotels Limited has announced its financial results for the fourth quarter and full year ending March 31, 2025, showing substantial growth across both hospitality and commercial real estate segments.
- Total Income: ₹5.4 billion, up 27% compared to Q4 FY2024
- Consolidated EBITDA: ₹2.6 billion, up 36% year-on-year; margin at 47.8%
- Consolidated PAT: ₹1.2 billion
Hospitality Segment Performance:
- Revenue at ₹4.6 billion, up 20% from Q4 FY2024
- ARR at ₹14,345, a 21% increase
- Same store ARR at ₹14,158, up 19%
- Occupancy at 76%, a 30 bps expansion
- RevPAR at ₹10,909, up 21% YoY
- EBITDA at ₹2.2 billion, with margins at 47.8%
Commercial Real Estate (Rental/Annuity) Performance:
- Revenue at ₹619 million, up 75% from Q4 FY2024
- EBITDA at ₹498 million, up 83%, with margins at 80.4%
Full-year performance FY2025
- Consolidated Revenue: ₹17.5 billion, up 22% YoY
- ARR: ₹12,094, up 13%
- Consolidated EBITDA: ₹7.7 billion, up 28%, margin at 44.0%
- Consolidated PAT: ₹1.4 billion
Strategic developments and sustainability initiatives
- The Board has approved entering into a binding term sheet to acquire Lakeview Mercantile Company Private Limited, which owns 15 acres of beachfront land in Bambolim, North Goa, with potential for a ~170-room luxury resort.
- Chalet achieved a Dow Jones Sustainability Index score of 67 and a CDP “B” rating for Climate Change and Water Security.
- Strengthened its leisure portfolio with the acquisition of The Westin Resort & Spa, Himalayas, a 141-room luxury resort, aligning with growth in leisure, spiritual, and wellness tourism markets.
Performance snapshot
Consolidated performance (Q4 FY2025)
| Particulars | Q4FY25 | Q3FY25 | QoQ% | Q4FY24 | YoY% | FY25 |
|---|---|---|---|---|---|---|
| Total Income | 5,374 | 4,645 | 16% | 4,244 | 27% | 17,541 |
| EBITDA | 2,569 | 2,114 | 22% | 1,890 | 36% | 7,722 |
| Margin % | 47.8% | 45.5% | 2.3pp | 44.5% | 3.3pp | 44.0% |
| PBT | 1,589 | 1,184 | 34% | 990 | 60% | 4,343 |
| Tax | -350 | -218 | 60% | -166 | 111% | *2,918 |
| PAT | 1,239 | 965 | 28% | 824 | 50% | 1,425 |
*Note: The Holding Company reversed deferred tax assets of ₹2,021.72 million in Q2 FY25 due to withdrawal of indexation benefits under the Finance (No. 2) Act, 2024.
Hospitality segment (Q4 FY2025)
| Particulars | Q4FY25 | Q3FY25 | Var(%) | Q4FY24 | Var(%) | FY25 |
|---|---|---|---|---|---|---|
| ADR | 14,345 | 12,944 | 11% | 11,862 | 21% | 12,094 |
| Occupancy | 76.0% | 70.2% | 5.8pp | 75.7% | 30bps | 72.6% |
| RevPAR | 10,909 | 9,090 | 20% | 8,984 | 21% | 8,781 |
| Total Revenue | 4,598 | 4,005 | 15% | 3,830 | 20% | 15,209 |
| EBITDA | 2,228 | 1,846 | 21% | 1,832 | 22% | 6,804 |
| EBITDA Margin % | 48.5% | 46.1% | 2.4pp | 47.8% | 70bps | 44.7% |
Rental annuity segment (Q4 FY2025)
| Particulars | Q4FY25 | Q3FY25 | Var(%) | Q4FY24 | Var(%) | FY25 |
|---|---|---|---|---|---|---|
| Revenue | 619 | 577 | 7.2% | 354 | 75% | 1,970 |
| EBITDA | 498 | 455 | 9.5% | 272 | 83% | 1,540 |
| EBITDA Margin % | 80.4% | 78.9% | 1.5pp | 76.9% | 3.5pp | 78.2% |
Development pipeline updates
- 121-room expansion at Bengaluru Marriott Hotel Whitefield completed in Q4 FY2025; rooms operational from May 2025 (Q1 FY2026)
- Renovation and expansion of The Dukes Retreat, Khandala set for completion in H1 FY2026
- Taj at T3 Terminal, Delhi International Airport (385–390 rooms) and CIGNUS POWAI® Tower II in Mumbai scheduled for completion in FY2027
Leadership insights
Sanjay Sethi, MD & CEO, Chalet Hotels Limited, said: “This year we achieved a significant milestone — ₹15 billion in revenue from the hospitality business with a strong 45% EBITDA margin, one of the highest in the industry, driven by the team’s robust execution and operational excellence. Our entry into Goa and Rishikesh reflects our strategy of strengthening our portfolio and diversifying our customer mix. For the year ahead, we aim to drive strong revenue growth whilst deepening our operational efficiencies, maintaining a sharp focus on executing our expansion pipeline. We are equally excited to work on the acquisition of the new land parcel in North Goa.”
