Subscribe
24NEWSHOUR 24NEWSHOUR
Write For Us
  • Home
  • Business
  • Education
  • Entertainment
  • News Update
  • Others
    • Technology
    • Health & Lifestyle
  • Write For US
  1. Home
  2. Entertainment
  3. CHALET HOTELS LIMITED ANNOUNCES Q2FY23 RESULT
Entertainment

CHALET HOTELS LIMITED ANNOUNCES Q2FY23 RESULT

 CHALET HOTELS LIMITED ANNOUNCES Q2FY23 RESULT

Mumbai, October 27, 2022: Chalet Hotels Limited announces its results for the second quarter and half year ending September 30, 2022.

Highlights for Q2FY23:

  • Total Income grew 4% as compared to Q2FY20 to Rs. 2.5 bn
  • EBITDA was at Rs. 9 bn, was 1% higher as compared to Q2FY20
  • Hospitality segment performance:
    • Revenue grew 9% as compared to Q2FY20
    • F&B revenue grew 18% over Q2FY20
    • ADR at Rs. 7,930 was up 1% over Q2FY20 and up 6% QoQ
  • Retail & Commercial segment: Revenues were at Rs. 244 mn with EBITDA at Rs. 198 mn

Recent Highlights:

  • License Agreement with DIAL (Delhi International Airport Limited) for development of ~375-400 room hotel at T3 Terminal of IGIA, New Delhi has been executed. The initial designs are in progress and the project work will start soon with expected completion in FY26.
  • Chalet Hotels Limited has been listed amongst India’s Top 10 Best Workplaces for Women in 2022 by Great Place to Work® India, for the third year in a row. The Company has also been listed in the Best Workplaces in Asia™ in 2022 in the Mid-size category.
  • As part of its committed goals on climate, Chalet now has EV charging stations functional at all its properties.
  • The Company derived ~80% of its energy from renewable sources in H1 for its hotels.

Performance for Q2FY23

Rs. Million

ParticularsQ2FY23Q2FY22Var %H1FY23H1FY22Var %Q2FY20Var %
Total Income2,5051,37482%5,1042,105142% 2,4054%
EBITDA8774342x1,9654034.8x 8671%
PAT157-138–443-556– 10353%

Segmental Performance for Q2FY23

Rs. Million

ParticularsQ2FY23Q2FY22Var%H1FY23H1FY22Var %Q2FY20Var %
Occupancy71%56%15%74%46%28% 74%-3%
RevPar5,6502,1612.6x5,7221,7093.3x 5,802-3%
Revenue2,2339192.4x4,5311,4163.2x 2,0469%
EBITDA8111385.9x1,7627823x 7498%
Retail & Commercial (Incl Discontinued)        
Revenue244377-35%475610-22% 307-21%
EBITDA198326-40%380517-26% 222-11%

Development Pipeline Update:

  • As part of the second phase of renovation at The Westin Mumbai Powai, banquet renovation has been completed and ~150 rooms are expected to be completed by end of the financial year.
  • Commercial Tower at Westin Complex, Powai is expected to be completed by Q4FY23.
  • For the Koramangala residential project in Bengaluru, municipal approval and RERA registration is underway.
  • Re-purposing of retail space at Whitefield Bengaluru to commercial space is expected to be completed by this financial year.
  • Commercial Tower at Marriott Complex, Whitefield, Bengaluru has already received partial OC.
  • Westin 2 Hyderabad Mindspace with 168 rooms is on track and is expected to be completed in Q4FY23.
  • At Novotel Pune, work on 88 rooms is expected to be completed in the current quarter.

Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited, commented on the financial results: “The business trend continues to be positive with the Company delivering a strong performance with improvements in room rates and F&B. The quarter ended on an extremely positive note with ARRs for September at Rs. 9,070, the highest this year. The positive signals on revenues for the existing assets, combined with the culmination of on-going growth-based CAPEX initiatives, should accelerate the company’s performance in the near future.”

Previous post
Next post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • DEE DEVELOPMENT ENGINEERS LIMITED FILES DRHP WITH SEBI
  • AGILUS DIAGNOSTICS LIMITED FILES DRHP WITH SEBI
  • Vi Introduces Data Sharing and Night Time Unlimited Data into Vi Max Family Postpaid Plans
  • Gem & Jewellery industry pledges to enhance Trust, Transparency, Sustainability, Traceability & Responsible Sourcing thru’ self-regulation
  • AZAD ENGINEERING LIMITED FILES DRHP WITH SEBI
Latest News
Business

DEE DEVELOPMENT ENGINEERS LIMITED FILES DRHP WITH SEBI

October 4, 2023
Business

AGILUS DIAGNOSTICS LIMITED FILES DRHP WITH SEBI

October 4, 2023
Business

Vi Introduces Data Sharing and Night Time Unlimited Data into

October 4, 2023
Business

Gem & Jewellery industry pledges to enhance Trust, Transparency, Sustainability,

October 3, 2023
24NEWSHOUR 24NEWSHOUR

Get The Post

Business
Education
News Update

Quick Links

About Us
The News Strike
The News Equity

Follow Us

© Copyright 2023. All rights reserved.
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}