Chalet’s Total Revenue for FY19 has increased to INR 10,348 million (up 22%); EBITDA increased to INR 3,668 million (up 22%).
Chalet Hotels Limited (“Chalet”), owner, developer and asset manager of high-end hotels in key metro cities of India, has announced itsannual results for thefinancial year ended March 31, 2019.
Chalet’s hotel platform comprises of five operating hotels, which includes a hotel with a co-located serviced residence. Chalet Hotels are currently branded with global brands such as JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance and Four Points by Sheraton which are with the Marriott Group.
FY19 Consolidated Performance:
• Total Revenue (including other income) at INR 10,348 million YoY growth of 22%
• EBITDA at INR 3,668 million, YoY growth of 22% with margin of 35.5%
• RevPAR at INR 6,283, YoY growth of 10%
Segmental Performance FY19:
• Segmental revenue for hospitality grew by 9% to INR 9,137 million for the year, with the segmental profit margin before interest depreciation and tax at 39.0%
• Occupancy for the year stood at 76% was higher by 300 bps from the previous year
• RevPAR for the year at INR 6,283 higher by 10% from the previous year
• Retail & Commercial Segment grew by 62% to INR 391 mn with the segmental profit margin before interest depreciation and tax at 23.9%
Commenting on the performance Sanjay Sethi, MD & CEO, Chalet Hotels Limited said, “The past year has been an incredible journey for Chalet Hotels Limited, we have had a successful IPO and listing on the stock exchanges.
Our business initiatives along with the sector tailwinds have been playing out favourably for us and have led to an encouraging 10% RevPAR growth for Chalet.We credit a large part of this to our lean and efficient cost structure which has improved our operating parameters.To leverage this further, we have a strong development pipeline which is in sync with our estimated growth trajectory for the Company.”
Chalet Hotels Limited has a developmental pipeline of ~580 keys across 3 hotel projectsin markets of Mumbai Metropolitan Region and Hyderabad. The Company has embarked on 2 commercial projects with an area of ~1.1 mn.sq.ft. in Mumbai and Bengaluru adjoining its existing hotels