Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Investor Presentation (November 2023)
27 slides from Chalet Hotels's investor presentation, Nov 7, 2023
Slide 1: Exchange filing cover letter: Corporate Presentation
November 7, 2023 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, Subject:
Slide 2: Chalet Hotels Limited Corporate Presentation November 2023
CHALET HOTELS LIMITED CORPORATE PRESENTATION November 2023 NSE|BSE: CHALET
Slide 3: Chalet Overview
Chalet Overview 9 2,890 10 2 1.2 Commercial Hotels Keys Brands Mn Sq.ft. Assets WHO WE ARE FY23 Total Income: Rs. 11,780 Mn ▪ Part of India's leading real estate group 'K Raheja Corp’, pioneer in business parks, malls, multi-brand retail ▪ Owner, developer, asset manager, and operator of high-end ho
Slide 4: Strong India story
Strong India story High focus on ‘Make in India’ 1.04 bn (69%) working age population by 2030 India GDP CPI <6% over 2023-2024 as per RBI Growth Rate 6.6-7% EY predicts India to be US$30 tn by 2048 over FY24-27 Strong push on infrastructure develpment Relatively stable policy environment Source: S&P
Slide 5: Strong hospitality tailwinds
Strong hospitality tailwinds Strong Demand Economic factors driven by strong tail-winds and concerted government efforts Post covid demand mainly International travel recently driven by domestic travel caught up to pre-covid Decade High Muted Supply Performance All Sector KPI’s in YTD August 2023 70
Slide 6: Hospitality: Existing Portfolio
Hospitality: Existing Portfolio MUMBAI JW Marriott Mumbai Sahar The Westin Mumbai Powai Lake Lakeside Chalet, Mumbai - Four Points By Sheraton Navi 588 Keys 600 Keys Marriott Executive Apartments Mumbai, Vashi 173 Keys 152 Keys PUNE LONAVALA Novotel Pune Nagar Road The Dukes Retreat, Lonavala - 80 K
Slide 7: Rental/Annuity: Existing Portfolio
Rental/Annuity: Existing Portfolio MUMBAI BENGALURU The Orb - Retail & Office Tower CIGNUS Whitefield Bangalore® Tower I 0.5 Mn Sq. ft. 0.66 Mn Sq. ft. 6
Slide 8: Driving Performance at The Core
Driving Performance at The Core Strategic Location Development Industry Leading Diversification Selection Efficiency Financial & Operational Performance ▪ Concentrated in prime locations ▪ Return focused investments ▪ Driving operational excellence ▪ Mixed-Use Developments in Major Cities Prioritizi
Slide 9: Led by a Strong Board
Led by a Strong Board Mr. Hetal Gandhi Mr. Arthur De Haast Chairman & Independent Director Independent Director Mr. Joseph Conrad D’Souza Ms. Radhika Piramal Independent Director Independent Director Mr. Ravi C. Raheja Mr. Neel C. Raheja Promoter & Non- Executive Director Promoter & Non- Executive D
Slide 10: Hospitality: Announced pipeline
Hospitality: Announced pipeline ~30% of the additional room capacity is on existing assets which is expected to yield high EBIDTA margins 3,760 Keys 3,480 Keys ~870 3,090 Keys rooms 2,890 Keys Oct’23 FY25 FY26 FY27 + 88 Keys + 200 Keys + 390 Keys + 280 Keys Novotel Pune Nagar Road Expansion ~130 Key
Slide 11: Rental/Annuity: Announced pipeline
Rental/Annuity: Announced pipeline Strategic Risk Hedge 3.1 msf leasable Commercial office space by FY27 3.1 msf 2.3 msf ~2.5 x 1.2 msf Oct’23 FY24 FY27 1.1 msf 0.8 msf CIGNUS Powai® Tower II 0.8 msf CIGNUS Powai® Tower I 0.3 msf CIGNUS Whitefield Bangalore® Tower II 10
Slide 12: Real-estate Development in Bengaluru
Real-estate Development in Bengaluru A luxury residential offering by K Raheja Corp Homes at Koramangala, Bengaluru. As of Oct ’23 Residential (lac Sqft) No of Units 8.5 321 9 2 Rs 3,750 mn 1 Sold 3.1 88 Residential Towers New Residential Pending cost of Commercial Tower Unsold 5.4 233 close to comp
Slide 13: Chalet Cares
Chalet Cares Dow Jones Sustainability Indices (DJSI) score at 43 100% 78% of Renewable 97% hotel inventory USGBC LEED Gold Recycled wet waste and equipped with EV charging electricity as on FY23 certification for 3 waste-water stations properties Rainwater harvesting system GREEN POWER CIRCULARITY G
Slide 14: Climate Change Actions
Climate Change Actions First hospitality company globally to sign up for all the three initiatives of The Climate Group The Company sourced 78% of its The Company is strategically 7 of our operational assets are electricity from renewable sources in investing in technology and IoT- equipped with EV
Slide 15: Profit & Loss Statement – 5 Year trend
Profit & Loss Statement – 5 Year trend Particulars (Consolidated) (in Rs. Mn) FY19 FY20 FY21 FY22 FY23* H1 FY24 ADR 8,210 8,482 4,040 4,576 9,169 9,944 Occupancy 77% 71% 30% 51% 72% 71% RevPAR 6,283 6,022 1,214 2,355 6,605 7,106 Total Income 10,348 10,087 3,075 5,297 11,780 6,327 Total Expenditure 6
Slide 16: Highlights
Highlights Particulars (in Rs. Mn) FY19 FY20 FY21 FY22 FY23* Sept 2023 Inventory Hotels 6 7 7 7 8 9 Rooms 2,311 2,554 2,554 2,554 2,634 2,890^ Capital Employed 28,348 32,816 32,276 35,821 38,531 40,769 Investments# 656 3,277 1,433 3,489 5,985 1,958 Net Worth 14,469 15,492 14,329 13,410 15,415 16,898
Slide 17: Leverage Position
Leverage Position in Rs. Mn Mar-18 Mar-19 Mar-22 Mar-23 Sep-23 Allocable to operating assets 23,339 13,581 14,147 11,757 13,914 Allocable to under-construction/to be operationalized assets 3,684 891 8,191 12,611 11,019 Net Debt 27,023 14,472 22,338 24,368 24,933 EBITDA from continued operations (YTD
Slide 18: Q2FY24 Operational Highlights
Q2FY24 OPERATIONAL HIGHLIGHTS
Slide 19: Strong trajectory
Strong trajectory India Flying Additional Keys at Key Metrics Novotel Pune Remain Strong Increase in airports Commenced operations RevPAR Rs. 7,034, Increase in air traffic for additional 88 keys at up by 25% YoY Increase in passengers the Novotel Pune on 4th October 2023, ADR Rs. 9,610, up increasi
Slide 20: Consolidated Performance Highlights
Consolidated Performance Highlights Robust YoY growth In Rs. Mn. REVENUE ADJUSTED EBITDA PAT 27% 48% 2.3x 3,146 3,182 1,299 1,302 887 2,505 877 364 157 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24^ Q2FY24^ Q2FY23 Q1FY24* Q2FY24 ^Excluding – 1. GST payment of Rs 107 Mn (Q1FY24) and Rs 1 Mn (Q2 FY24) for inelig
Slide 21: Hospitality: Performance Highlights
Hospitality: Performance Highlights In Rs. Mn. Revenue ADR (in Rs.) Room 10,317 9,610 21% Q2FY23 1,328 743 163 2,233 F&B 7,930 Other Q1FY24 1,747 866 208 2,822 Total Q2FY24 1,813 822 209 2,844 27% Q2FY23 Q1FY24 Q2FY24 Adjusted EBITDA RevPAR (in Rs.) 7,182 7,034 25% Q2FY23 811 5,650 Q1FY24* 1,198 Q2F
Slide 22: Hospitality: City-wise Performance
Hospitality: City-wise Performance Q2FY24 Q2FY23 YoY% H1FY24 H1FY23 YoY% FY23 ADR (Rs.) MMR 9,861 8,134 21% 10,340 8,057 28% 9,741 Others* 9,309 7,634 22% 9,418 7,113 32% 8,170 Combined 9,610 7,930 21% 9,944 7,684 29% 9,169 Occupancy (%) MMR 74% 71% 3 pp 74% 76% -2 pp 74% Others* 72% 71% 1 pp 69% 72
Slide 23: Hospitality: Enhanced Efficiencies
Hospitality: Enhanced Efficiencies Total expenses % of Revenue 64% 63% 58% FY20 Q2FY23 Q2FY24 Staff to room ratio* Utilities % of Revenue Payroll Costs % of Revenue 1.18 14.9% 6.9% 7.2% 13.7% 14.3% 0.93 0.97 6.1% Dec-19 Mar-23 Sep-23 FY20 Q2FY23 Q2FY24 FY20 Q2FY23 Q2FY24 *Includes full time and cont
Slide 24: Rental/Annuity: Performance Highlights
Rental/Annuity: Performance Highlights Leasable Area (msf.) (Rs. Mn.) Q2FY24 Q1FY24 FY23 1.2 Total Revenue 300 285 1,000 0.5 EBITDA 237 227 838 EBITDA% 79% 80% 84% FY23 Q2FY24 Occupancy (%) 98% 57% FY23 Q2FY24* Artists’ rendering *CIGNUS Whitefield Bangalore® Tower - 0.66 msf is in the process of be
Slide 25: Pipeline right on track
Pipeline right on track New Rooms/ Leasable area Location Completion update The Dukes Retreat Rennovatin & Expansion ~70 New Lonavala Q3 FY25 Existing rooms – 80 Bengaluru Marriott Hotel Whitefield Expansion ~130 rooms Bengaluru Q4 FY25 Existing rooms – 391 Taj at Delhi International Airport ~390 ro
Slide 26: Safe Harbor
Safe Harbor This release has been prepared by Chalet Hotels Limited (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
Slide 27: Thank You
Chalet Hotels Limited Thank You Raheja Towers, 4th Floor, Block G, BKC, Mumbai 400 051 Investor Relations Contact: Ruchi Rudra ruchi.rudra@chalethotels.com Meghna Luthra meghna.luthra@chalethotels.com investorrelations@chalethotels.com
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