Chalet Hotels posts profit of Rs 13.3 crore for Q4FY19
Chalet Hotels (Chalet), the owner, developer and asset manager of high-end hotels in key metro cities of India, has announced its annual results for the year ended March 31, 2019. On a consolidated basis, Chalet posted total revenue of Rs 1034.8 crore for FY19 as compared to Rs 851.2 crore in FY18. The revenue has increased by 22% on yearly basis. The EBITDA of the company has increased to Rs 366.8 crore, up by 22% during the same period. The bottomline of the company, however, saw major improvement and minimised its loss to Rs 7.6 crore as against a loss of Rs 92.8 crore in the same period year ago. The good part is that profit for quarter ended March 2019 stood at Rs 13.3 crore. Since the company has posted results for the first time after its listing earlier this year, we do not have comparative numbers for the fourth quarter of FY18.
Segmental performance FY19
In terms of segmental revenue, the company operates primarily in three segments, namely hospitality (hotels), real estate and retail & commercial. For the year ended FY19, segmental revenue for hospitality grew by 9 per cent to Rs. 913.7 crore for the year, with the segmental profit margin before interest depreciation and tax at 39 per cent. The occupancy for the year stood at 76%, which was higher by 300 bps from the previous year. The company’s RevPAR, or revenue per available room for the year stood at Rs 6,283, higher by 10% from the previous year. The next major segment, eetail & commercial grew by 62% to Rs 39.1 crore with the segmental profit margin before interest depreciation and tax at 23.9%.
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.
Going ahead, Chalet Hotels has a developmental pipeline of around 580 keys across three hotel projects in markets of Mumbai metropolitan region and Hyderabad. In commercial segment, in line with its strategy to optimally utilize available land, the company has embarked on two commercial projects with an area of around 1.1 mn sq ft in Mumbai and Bengaluru adjoining its existing hotels.