Chalet Hotels Ltd share Price Today

Hotels company Chalet Hotels announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Total Income at Rs 4.2 billion, up 23% as compared to Q4FY23
• Consolidated EBITDA at Rs 1.9 billion up 18% as compared to Q4FY23, Margin at 44.5%
• Consolidated PAT at Rs 0.8 billion
• Hospitality Segment Performance:
  •  Revenue at Rs 3.8 billion up by 24% from Q4FY23
  •  ARR at Rs 11,862, up by 5% over Q4FY23
  •  Same store ARR at Rs 12,159, up by 8% over Q4FY23
  •  Occupancy was at 76%, expansion of 2 percentage points over Q4FY23
  •  RevPAR improved by 7% YoY to Rs 8,984
  •  EBITDA was at Rs 1.8 billion, up by 24% from Q4FY23 with margins of 47.8%.

FY24 Financial Highlights:

• Consolidated Revenue at Rs 14.4 billion up 22%
• ARR at Rs 10,718, up by 17% YoY
• Consolidated EBITDA at Rs 6.0 billion up by 20%, with Margin at 42.1%
• Consolidated PAT at Rs 2.8 billion
• The company has successfully raised Rs 10 billion through Qualified Institutional Placement (QIP), the process concluded on April 03, 2024. The funds have been used to pare down debt.
• Acquired Courtyard by Marriott Aravalli with an EV of Rs 3.15 billion.

Speaking on the above, Sanjay Sethi, MD & CEO, Chalet Hotels Limited, “I am very pleased with the consecutive record quarters of operating performances at Chalet. Historically, Chalet has followed the path of high capital productivity through an optimal leverage in its balance sheet. This strength, along with exciting portfolio & pipeline growth, a successful capital raise and with our ability to deliver high returns, reiterates our commitment to our stakeholders. The team also continued to deliver strong progress on our ESG plans.”

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