Q4 2024 Lemon Tree Hotels Ltd Earnings Call Transcript
Key Points
- Lemon Tree Hotels Ltd (BOM:541233) recorded its best-ever Q4 performance in terms of ARR revenue, EBITDA, and PAT.
- Q4 FY24 gross ARR increased by 13.4% year-on-year and 4.3% quarter-on-quarter.
- Total revenue for Q4 was INR 331.2 crore, up 30% year-on-year and 13.9% quarter-on-quarter.
- The company signed 12 new management and franchise contracts in Q4, adding 667 new rooms to its pipeline.
- Operational inventory crossed 10,000 rooms as of March 31, 2024, with expectations to exceed 11,000 rooms by the end of FY25.
- Occupancy for Q4 stood at 72%, a decrease of 163 bps year-on-year.
- Net EBITDA margin for Q4 FY24 decreased by 278 bps year-on-year due to increased renovation expenses and payroll inflation.
- Debt for the company increased by INR 143.3 crore or about 8% from FY23, primarily due to borrowing against Aurika, Mumbai SkyCity.
- The EBITDA margin for the games portfolio decreased by 16 percentage points year-on-year due to higher renovation expenses.
- The company faces challenges in the Bangalore market due to a slowdown in IT hiring, impacting occupancy rates.
Ladies and gentlemen, good day and welcome to the Lemon Tree Hotels Limited earnings conference call. (Operator Instructions)
Please note that this conference is being recorded. I now hand the conference over, Mr. Anoop Poojari from CDR India, thank you and over to you Mr. Poojari.
Thank you. Good evening, everyone, and thank you for joining us on Lemon Tree Hotels, Q4 and FY24 earnings conference call. Once we have with us Mr. Patanjali Keswani Chairman and Managing Director; and Mr. Kapil Sharma, Chief Financial Officer of the company. We would like to begin the call with opening remarks from the management, following which we'll have the forum open for an interactive question-and-answer session.
Before we start, I would like to point out that some statements made in today's call may be forward-looking in nature and a disclaimer to this effect has been included in the results presentation that was shared with you earlier.
I would now request Mr. Keswani to make his
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