Q2 2024 EIH Ltd Earnings Call Transcript
Key Points
- EIH Ltd (BOM:500840) reported a record Q2 and half-year performance, driven by market buoyancy and increased travel.
- The company saw a significant increase in RevPAR, with a 48% rise for all domestic hotels, outperforming the industry average.
- EIH Ltd (BOM:500840) achieved its strongest quarter ever with a revenue of INR 490 crores, EBITDA of INR 148 crores, and PAT of INR 85 crores.
- The company is net cash positive with INR 227 crores on a stand-alone basis and INR 509 crores on a consolidated basis.
- EIH Ltd (BOM:500840) has a vision for 2030 to add 50 more hotels with about 4,500 additional keys, indicating strong future growth plans.
- Foreign travel has not yet returned to pre-pandemic levels, indicating potential future challenges in fully recovering international business.
- Shimla hotels were severely impacted by negative environmental conditions, leading to a significant drop in RevPAR for that region.
- The company faces a complex global economic environment with rising interest rates, monetary policy tightening, and supply chain disruptions.
- There is still a gap in employment levels in the tourism and hospitality industry compared to pre-pandemic times.
- The upcoming elections in Q1 of the next year could potentially impact ADRs and overall business performance.
Good day, ladies and gentlemen. On behalf of EIH Limited and SKP Securities, it's my pleasure to welcome you to EIH Limited's Q2 FY '24 Earnings Webinar. We have with us Mr. Vikram Oberoi, Managing Director and Chief Executive Officer; and Mr. Kallol Kundu, Chief Financial Officer.
This meeting is being recorded for compliance reasons, and during the course of discussion, there may be certain forward-looking statements which must be viewed in conjunction with the risk that the company faces. We'll have the opening remarks and a presentation by the management, followed by a Q&A session. Thank you, and over to you, Vikram.
Thank you so much, Navin. Good afternoon, ladies and gentlemen. Thank you for joining us on this call. You may have already seen our results for Q2 of this financial year and also our half yearly results, which was published and I would just like to highlight that we've had a record Q2 and a record half
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