Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q4 FY2022 Earnings Presentation
28 slides from Chalet Hotels's earnings presentation, May 10, 2022
Slide 1: Chalet Hotels exchange filing cover letter
CHALET HOTELS May 10, 2022 National Stock Exchange of India Limited BSE Limited Exchange Plaza Corporate Relationship Department Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Fort, Mumbai 400 051. Mumbai 400 001. Scrip Code: CHALET Scrip Code: 542399 Dear Sir/ Madam,
Slide 2: Investor presentation Q4FY22
Investor presentation Q4FY22
Slide 3: On the recovery track
On the recovery track Easing travel Normalization of Sharp upturn of International flights and restrictions - globally uptick in domestic sentiment passenger loads Several countries lifted Reduced COVID cases travel bans India opened the skies to scheduled international Government revoked Reduced CO
Slide 4: Leading business recovery in all key markets
Leading business recovery in all Key markets 37% 46% 31% 46% 29% 64% 18% 50% Source: HVS Hotels & Hospitality Overview April 2022 & Chalet Internal performance Chalet Properties 3
Slide 5: Business strategized for recovery & growth
Business strategized for recovery & growth Reaffirmed commitment to a sustainable tomorrow Committed to all three Climate group initiatives – EV100, EP100, RE100 Included ESG in our company Vision statement Realigned assets Repurposed retail assets in Mumbai (The Orb) and Bengaluru (Inorbit Mall) to
Slide 6: Operational Overview
01. Operational Overview
Slide 7: Consolidated performance
Consolidated performance Q4FY22 Revenue Like-to-like performance (In Rs. Mn) 5006 4% 14% 1657 82% 1497 Hospitality Rental / Annuity Others 1054 331 419 FY22 Revenue 3% Q4FY22 Q3FY22 FY22 20% Revenue EBITDA Adjusted for: 1. Q4FY22: Income Tax refund and creditors write off Rs. 38 mn, Asset Write off
Slide 8: Steady ramp-up
Steady ramp-up (In Rs. Mn) Quarterly performance Monthly performance 7000 90% 81% 85% Second Wave Third Wave 80% 6000 5757 75% 68% 64% 70% 5000 60% 59% 65% 58% 58% 57% 56% 55% 60% 54% 54% 4232 55% 4000 47% 50% 3554 45% 3035 2973 2978 38% 3000 36% 36% 40% 2571 2703 35% 2161 2135 2278 2074 1956 30% 20
Slide 9: Steady ramp-up: Hospitality performance
Steady ramp-up (In Rs. Mn) Hospitality Performance 1420 1,264 915 724 627 367 462 290 312 358 138 20 19 -145 -107 -99 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22* Q2FY22* Q3FY22 Q4FY22 Total Revenue EBITDA *Excludes : Rebate amounting to Rs. 4.62 mn and Rs. 34.85 mn from the Hotel operator in respect of past
Slide 10: Hospitality City-wise Performance
Hospitality City-wise Performance Q4FY22 Q3FY22 QoQ% FY22 FY21 YoY% ADR (Rs.) MMR 5,797 5,351 8% 4,714 4,056 16% FY22 Revenue Rs. 4,100 Mn Bengaluru 5,572 4,039 38% 4,403 4,611 -5% Hyderabad 4,974 5,592 -11% 4,850 4,161 17% 7% Pune 3,914 3,880 1% 3,505 2,871 22% Combined 5,429 5,078 7% 4,576 4,040 1
Slide 11: Enhanced efficiencies – Hospitality FY22
Enhanced efficiencies – Hospitality FY22 Reaching near stabilized cost scenario Staff to room ratio** ~33%* reduction in ~42%* reduction in 0.84 Mar-22 Fixed costs Variable costs (0.74 as on March-21) (1.18 as on Dec-19) Payroll Costs % of Revenue Utilities as a % of Revenue 42% 22% 22% 17% 19% 18%
Slide 12: Rental / Annuity Business
Rental / Annuity Business (In Rs. Mn) Steady rental from Commercial portfolio Additions to commercial annuity: Q4FY22 FY22 FY21 Sahar Commercial: Total Revenue 216 1,050 931 • Erstwhile ‘The Orb’ converted to office space SLM 15 75 115 • ~50% of 0.12 mn sqft leased out EBITDA 144 789 724 Inorbit Mal
Slide 13: Consolidated Profit / Loss Statement
Consolidated Profit / Loss Statement Particulars Q4FY22 Q3FY22 QoQ% Q4FY21 YoY% FY22 FY21 YoY% (In Rs. Mn) Total Income 1,535 1,657 -7% 989 55% 5,297 3,075 72% Total Expenditure 1,166 1,238 -6% 929 26% 4,093 2,785 47% EBITDA from Continuing Operations 369 419 -12% 61 509% 1,204 290 315% EBITDA from
Slide 14: Leverage Position
Leverage Position (In Rs. Mn) Net Debt Movement Interest Rate Movement (Rupee Loans) 22,338 18,711 8.04% 52 3,627* Bps 21,192 17,184 7.52% *Rs. 3,489 Mn Project expenses 1,527 1,146 Mar-21 Mar-22 Mar-21 Mar-22 ECB Loans Rupee Loan Excluding Preference Share Capital 13
Slide 15: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement (In Rs. Mn) Particulars March 31, 2022 March 31, 2021 Fixed Assets 19,758 20,620 Capital Work in-progress 8,191 4,395 Investment Property 5,692 5,914 Goodwill 226 226 Other Non-Current assets* 3,549 3,182 Cash and Cash Equivalents 1,255 677 Other Current Assets 5
Slide 16: Projects Update
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Slide 17: Ongoing Projects - Commercial
Ongoing Projects - Commercial Commercial Tower at Westin The Commercial Tower in Marriott Complex, Complex, Powai is a premium office Whitefield, Bengaluru is a premium office space of ~0.78 msf. space with leasable area of ~0.66 msf. Expected to be completed by Q4FY23 Expected to be completed by Q2
Slide 18: Ongoing Projects - Hotel
Ongoing Projects - Hotel Addition of 88 rooms at Novotel Nagar Westin 2 Hyderabad Mindspace project Road Pune being evaluated with targeted opening Expected to be completed by Q2FY23 of Q4FY23 17
Slide 19: Real-estate development in Bengaluru
Real-estate development in Bengaluru ❖ 9 residential towers of 10 floors each ❖ 2 residential towers of 11 floors each ❖ New Commercial block for strata sale ❖ ~Rs. 4,250 mn estimated cost to completion ❖ Project expected to be completed by FY26 Approval in place from existing customers for revised
Slide 20: Re-strategizing
Re-strategizing Repurposing assets : Stabilize returns Inorbit Mall ✓ Repurposing to commercial office space Whitefield, Bengaluru ✓ Conversion expected to be completed by Q3FY23 0.3 mn sq ft Retail cum Office block ✓ 7 retail F&B tenants to continue Sahar, Mumbai ✓ Leasing for commercial space unde
Slide 21: About Chalet
03 |: About Chalet
Slide 22: Sustainable tomorrow
Sustainable tomorrow USGB Gold Leed Certification Energy Initiatives – JW Marriot Mumbai Sahar ✓ Increase contribution of electricity sourced from – Marriott Whitefield Bengaluru non fossil fuel-based sources - 51% of total – Office Tower Sahar, Mumbai consumption in FY21 – Office Tower Whitefield,
Slide 23: Chalet Signs Climate Group Initiatives
Chalet Signs Climate Group Initiatives First hospitality company globally to sign up for all the three initiatives of The Climate Group ✓ 100% of the vehicle fleet ✓ Chalet Hotels commits to ✓ All properties in the used for guest transport, will double its revenue per unit Company’s portfolio to tra
Slide 24: Chalet - Great Place To Work
Chalet - Great Place To Work ® Certified as a Great Place to Work © in 2022 – 3rd year in a row Chalet Hotels Ranked 40# in 2021 Best Workplaces in Asia by Great Place to Work® Chalet has been recognized amongst ‘Top 10 | Mid – size India’s Best Workplaces for Women – 2021’ by Great Place to Work ©
Slide 25: Our Hotel Portfolio
Our Hotel Portfolio Novotel Pune Nagar Road Hotel JW Marriott Mumbai Sahar Bengaluru Marriott Hotel Whitefield The Westin Hyderabad Mindspace (427 (223 Keys) (588 Keys) (391 Keys) Keys) Strategically Chosen Brands at Key Locations Four Points by Sheraton Navi Lakeside Chalet, Mumbai-Marriott Executi
Slide 26: Hotel-led Complementary Mixed-Use Developments
Hotel-led Complementary Mixed-Use Developments Strategy of co-locating projects augur well for Business Demand coupled with optimal utilization of available land Office (0.9 Mn sqft) Office Block Whitefield, Bengaluru Office & Retail Tower Sahar, Mumbai 0.4 mn sq ft 0.5 mn sq ft in Prime Location 25
Slide 27: Disclaimer
Disclaimer This release has been prepared by Chalet Hotels Ltd (CHL) and the information on which it has been based has been derived from sources that we believe to be reliable. Whilst all reasonable care has been taken to ensure the facts stated are accurate and the opinions given are fair and reas
Slide 28: Thank You!
Investor Relations Contact Ms. Ruchi Rudra E-mail: ruchi.rudra@chalethotels.com investorrelations@chalethotels.com Thank You! Chalet Hotels Limited Raheja Towers, 4th Floor, Block G, BKC, Mumbai 400 051