Q1 2025 Chalet Hotels Ltd Earnings Call Transcript
Key Points
- Chalet Hotels Ltd (BOM:542399) reported the best Q1 performance in its history, with a 17% increase in consolidated revenue and a 31% rise in total EBITDA compared to Q1 FY '24.
- The company announced the acquisition of land in Goa for the development of a 5-star deluxe resort, aligning with its long-term growth strategy.
- Occupancy rates improved to 70%, with a 1% increase in the average room rate, contributing to a year-on-year RevPAR growth of 2%.
- The residential project in Koramangala, Bangalore, is surpassing sales expectations, achieving prices significantly higher than initially projected.
- Chalet Hotels Ltd (BOM:542399) is committed to achieving net zero greenhouse gas emissions by 2040, aligning with the Paris Agreement's goals.
- The Navi Mumbai hotel saw a 7% dip in RevPAR due to increased room supply in similar category hotels in the micro market.
- Novotel's RevPAR was lower due to increased capacity of 88 rooms, which will take another quarter or two to stabilize.
- Major renovation work at Dukes led to the removal of limited inventory from sales, impacting revenue.
- The Hyderabad market showed a decline in ADRs despite high occupancy rates, attributed to the addition of a new hotel with lower ADRs.
- The company's net debt increased marginally to INR 15 billion as of June 30, 2024, primarily due to capital expenses.
Ladies and gentlemen, good day and welcome to Chalet Hotels Q1 FY '25 Earnings conference call. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Sanjay Sethi, MD and CEO, Chalet Hotels Limited. Thank you, and over to you, sir.
Thank you, Jerald. Ladies and gentlemen, thank you for joining us today for the earnings call where we will reflect on the performance of Q1 FY '25. Before I commence the quarterly update, let me share with you our announcement of this morning. Committee of our Board has approved a transaction to purchase a land and go up for the development of 5-star deluxe resort. The
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