Chalet Hotels Limited announces Q4FY23 Results

Chalet Hotels, the owner, developer, and asset manager of high-end hotels in key metro cities of India, have announced the results for the fourth quarter and full year ending March 31, 2023.

Key Highlights for Q4FY23:

• Chalet marked its debut in leisure segment with the acquisition of The Dukes Retreat -Lonavala.
• Residential project at Koramangala, Bengaluru received RERA approval
• Total Income touched all-time high at INR 3.5 bn, up 2.3x as compared to Q4FY22
• EBITDA touched all-time high at INR 1.6 bn, up 4.3x as compared to Q4FY22
• Hospitality segment performance:
• All-time high Revenue INR 3.1 bn, up by 2.5x from Q4FY22 and up 17% sequentially
• All-time high quarterly ADR at INR 11,304, up by 108% over Q4FY22 and up 11% sequentially
• Occupancy improved 18pp YoY to 74%
• RevPAR improved 2.7x YoY to INR 8,363
• Industry leading EBITDA Margin at 48%
• F&B Revenues touched all-time high at INR 1 bn

Key Highlights for FY23:

• The Company signed its first asset in North India, with the proposed new hotel at Terminal 3 of Delhi International Airport.
• Total Income touched all-time high at INR 11.8 bn, up 2.2x as compared to FY22.
• EBITDA touched all-time high at INR 5 bn, up 4.4x as compared to FY22, with margin of 42.6%.

Sustainability Highlights:

• The Dow Jones Sustainability Index (DJSI) score significantly improved by 39% to 43, from last year’s score of 31.
• ~76% of the energy sourced from renewable resources.