Highlights
- OCCUPANCY RAMPS UP TO 56% EXPANSION OF 20 PP QoQ
- TOTAL INCOME AT RS. 1,376 MN, UP 88% QoQ
- REVPAR AT RS. 2,161, UP 73% QoQ
- Total Income grew by 88% to Rs. 1,376 mn as compared to Q1FY22
- EBITDA (from continuing operations) was at Rs. 441 mn as compared to Rs. (32) mn in Q1FY22
- For the Hospitality segment performance as compared to Q1FY22:
- Revenue Growth for Q2FY22 was 85%
- Occupancy for Q2FY22 was at 56% as against 36% for Q1FY22 an expansion of 20 PP
- REVPAR at Rs. 2,161 up by 73%
- Retail & Commercial segment (Incl Discontinued): revenues were at Rs. 377 mn with EBITDA at Rs. 326 mn for Q2FY22
Speaking on the results, Mr. Sanjay Sethi, MD & CEO, Chalet Hotels Limited, said, “The hospitality performance has seen a sharp ramp up backed by significant increase in the vaccination numbers along with easing of restrictions in the country. We have streamlined our business over the past few quarters and re-mobilized dormant assets and re-purposed underperforming ones.
I would like to highlight, that the progress on our residential project at Koramangla, Bengaluru is in line with our strategy of unlocking value for the business and will pave way for the monetisation of this luxury project in the upmarket residential district of Bengaluru. In addition, Chalet has significant value to be unlocked from its exiting balance sheet, coupled with our strength in asset management, improving efficiencies and our ESG commitments we are confidant of long-term sustainable growth.”
