Part of the K Raheja Corp group, Chalet Hotels Limited is an owner, developer, asset manager and operator of high-end hotels and a hotel-led mixed-use developer in key metro cities in India such as Mumbai Metropolitan Region, Hyderabad, Bengaluru, and Pune. The Company focusses on driving business efficiencies and sustainable growth right from the pre-development stage, through the entire lifecycle of assets, while maximising returns on every square foot owned and operated.
Sanjay Sethi, MD & CEO, Chalet Hotels Limited, announcing the company’s Q1FY24 results, said, “ARRs have been holding strong with 38% growth year-on-year, a key business performance indicator for the Company. This quarter also witnessed the launch of our first all-women-run hotel, ‘The Westin Hyderabad HITEC City’, a small contribution towards gender equality and empowerment in the hospitality industry. India’s strong economic indicators combined with a robust demand-supply environment and our ongoing capex initiatives, bode well for the future of Chalet Hotels.”
The key highlights of Chalet’s Q1FY24:
- Total Income at INR 3.1bn, up 21% as compared to Q1FY23
- Adjusted EBITDA at INR1.3 bn, up 24% as compared to Q1FY23
- Hospitality Segment Performance:
o Revenue at INR2.8 bn, up by 23%from Q1FY23
o ARR at INR10,317, up by 38% over Q1FY23
o Occupancy was at 70%
o RevPAR improved by24%YoY to INR 7,182
o Adjusted EBITDA was at INR 1.2 billion, up by 26%from Q1FY23
Other Highlights:
- ~68% of the total electricity for hotel portfolio sourced from renewable resources in Q1FY24.
- Newly launched The Westin Hyderabad HITEC City completely sold out from day 1, operated by an all-women team and is run on 100% Green Power.
