Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Investor Presentation (November 2024)
34 slides from Chalet Hotels's investor presentation, November 2024
Slide 1: Corporate Presentation November 2024
CHALET HOTELS LIMITED CORPORATE PRESENTATION November 2024 CHALET HOTELS LIMITED CORPORATE PRESENTATION November 2024 NSE|BSE: CHALET
Slide 2: 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 3: K Raheja Corp – Group Overview
K Raheja Corp – Group Overview Over 6 Decades Pan India USD 5.9 Bn (4) of experience Market Capitalization presence of 3 listed entities Office Hospitality Malls Residential Retail Leasable Area c. 4,500+ keys (2) 7 malls Developed Operates 280 retail c. 55 msf(1) residential spaces stores across In
Slide 4: Chalet Overview
Chalet Overview Hotels Keys Brands Commercial Assets (msf) 10 3 3,052 1,040* 11# 2 2.4 0.9 Operational Pipeline Operational Pipeline In Existing assets In Pipeline assets Operational Pipeline Active Asset Management & Operating Model Growth From Quality Developments & Acquisitions ❑ New developments
Slide 5: Chalet: At the inflection point
Chalet : At the inflection point Focused on remaining at the forefront of growth Operating Efficiencies & Margins amongst best# ▪ Addition of 418 keys and 1.2 msf office space in the ▪ Improvement in Adjusted EBITDA margins from 41.3% in operating portfolio FY24 FY23 to 43.8% in FY24 ▪ Building up a
Slide 6: H1FY25 Overview
H1FY25 Overview HIGHEST H1 STABLE & RESILIENT REVENUE : 19% SUSTAINABLE & PERFORMANCE OPERATIONS EBITDA : 25% DIVERSIFIED GROWTH ✓ 7% Expected GDP growth in FY25 ✓ Strong Pipeline & diversified portfolio Strong Resilient ✓ Focused infrastructure development Macro Story Business ✓ Resilient operation
Slide 7: High-end hotels strategically located in CBDs of key metro cities & strong leisure locations
High-end hotels strategically located in CBDs of key metro cities & strong leisure locations 7
Slide 8: Right Hotels in Right Locations with Right Brand Partnerships
Right Hotels in Right Locations with Right Brand Partnerships 3,052 Keys MUMBAI JW Marriott Mumbai Sahar The Westin Mumbai Powai Lake Lakeside Chalet, Mumbai - Four Points By Sheraton Navi 588 Keys 604 Keys Marriott Executive Apartments Mumbai, Vashi 173 Keys 152 Keys PUNE LONAVALA NCR Novotel Pune
Slide 9: Complementary Commercial Spaces
Complementary Commercial Spaces MUMBAI BENGALURU The Orb - Retail & Office Tower CIGNUS Powai® Tower I CIGNUS Whitefield Bangalore® Tower I 0.5 Mn Sq. ft. 0.9 Mn Sq. ft. 0.7 Mn Sq. ft. CIGNUS Whitefield Bangalore® Tower II 0.3 Mn sq. ft Strategically maximizing development potential and creating an
Slide 10: Real-estate Development in Bengaluru
Real-estate Development in Bengaluru No. of Avg Sale Price As of September 2024 (Msf) Units (Rs. psf) Residential (1+2+3) 0.85 321 1 Historical sales 0.28 83 ~7,700 2 New Sales (A+B+C) 0.41 170 ~19,700 A Sold in FY24 0.29 121 ~18,800 B Q1FY25 0.04 17 ~21,500 C Q2FY25 0.07 32 ~21,800 3 Unsold 0.17 68
Slide 11: Poised to Benefit from Industry Trends
Poised to Benefit from Industry Trends 11
Slide 12: Strong India story
Strong India story Governments emphasis on ‘Make in India’ & ‘Dekho Apna Desh’* 8.9% CAGR growth expected in per-capita income (FY 23 – FY29) India GDP Strong push on Toursim related infrastructure development Growth Rate 6.3% Hotel Sector’s GDP contribution to grow 25x to US$1 tn by 2047$ Expected
Slide 13: Tourism and Infrastructure growth to boost hospitality demand
Tourism and Infrastructure growth to boost hospitality demand Tourism on the rise Tourism showing a sustained growth Air Traffic Resurgence – 26% With Access Infrastructure Establishing presence in cities handling 56%* of above 2022 levels Improving India’s Air traffic Air Traffic (in Mn) Through Ne
Slide 14: Hospitality Sector in India is Significantly underpenetrated
Hospitality Sector in India is Significantly underpenetrated… Number of Hotel Keys per Mn Sq Office Space (Dec 2023) 651 529 289 174 149 106 94 78 New York San Francisco London Pune Hyderabad Bangalore Mumbai NCR Source: Horwath HTL Data as on 31 Dec 2023 14
Slide 15: Long-term demand growth outpacing supply growth
…with Long-term demand growth outpacing supply growth Segmental Share of Supply (FY 23 – FY 27) Demand - Supply Growth (FY 23 – FY 27) 11.2% 9.5% 10.3% 7.2% 11.6% 5.3% Pan India 9.0% 6.0% Pune 2.5% 10.0% Bengaluru 5.9% 10.0% Delhi 4.6% 80% hotel inventory * of Chalet Hotels Hyderabad 8.0% ~87% hotel
Slide 16: Operating efficiencies
ai CHALET Operating efficiencies
Slide 17: Financial Highlights H1FY25
Financial Highlights H1FY25 YoY Growth % CONSOLIDATED HOSPITALITY ₹ 7,523 Mn 19% ₹ 6,606 Mn 17% Revenue ₹ 3,040 Mn ₹ 2,728 Mn 18% 25% EBITDA 40.4% 2 pp 41.3%* 30 bp EBITDA Margin *excluding ‘The Dukes Retreat’ which is under renovation ₹ 1,571 Mn 92% margins were at 42.3% PBT All adjustments detaile
Slide 18: Hospitality
Hospitality Revenue EBITDA In Rs. Mn. Q2FY24 1,813 820 2,844 Room Q2FY24 1,180 41.5% 18% 18% Q2FY25 2,122 1,014 3,352 F&B Q2FY25 1,387 41.4% H1FY24 3,561 1,685 5,666 Other H1FY24 2,321 41.0% 17% 18% H1FY25 4,126 2,053 6,606 Total H1FY25 2,728 41.3% Revenue Mix Guest Profile H1FY25 5% 4% 30% 34% 13%
Slide 19: Hospitality Performance
Hospitality Performance Same store* Portfolio level Q2FY25 Q2FY24 YoY% H1FY25 H1FY24 YoY% YoY% ADR (Rs.) MMR 10,580 9,861 7% 7% 10,555 10,340 2% Others 10,480 9,309 13% 11% 10,415 9,418 11% Combined 10,532 9,610 10% 9% 10,490 9,944 5% Occupancy (%) MMR 75% 74% 1% 1% 77% 74% 3% Others 72% 72% 0% 4% 6
Slide 20: Hospitality: Retained Efficiencies
Hospitality: Retained Efficiencies Total expenses % of Revenue 59.0% 58.7% H1FY24 H1FY25 Staff to room ratio* Utilities % of Revenue Payroll Costs % of Revenue 0.97 14.8%** 13.8% 6.3% 6.1% 0.94 Sep-23 Sep-24 H1FY24 H1FY25 H1FY24 H1FY25 **excluding ‘The Dukes Retreat’ which is *Includes full time and
Slide 21: Rental & Annuity: Performance Highlights
Rental & Annuity: Performance Highlights Msf. (Rs. Mn.) Q2FY25 H1FY25 FY24 2.4 2.4 Total Revenue 419 774 1,241 EBITDA 323 587 988 * 1.1 0.2 EBITDA% 77% 76% 80% 1.2 Mar' 24 Sep' 24 Leasable Area Leased Area LOI’s signed Artists’ rendering Artists’ rendering CIGNUS Powai® Tower I CIGNUS Whitefield Ben
Slide 22: Profit & Loss Statement
Profit & Loss Statement Particulars (in Rs. Mn) Q2FY25 Q2FY24 YoY% H1FY25 H1FY24 YoY% FY24 Total Income 3,832 3,182 20% 7,523 6,327 19% 14,370 Total Expenditure 2,275 1,886 21% 4,483 3,896 15% 8,327 EBITDA 1,556 1,296 20% 3,040 2,432 25% 6,044 Margin % 40.62% 40.72% 40.41% 38.43% 42.10% Adjusted EBI
Slide 23: Balance Sheet
Balance Sheet Particulars (in Rs. Mn) Sep-24 Mar-24 Fixed Assets 26,014 24,464 Capital Work in-progress 2,208 11,089 Investment Property 17,891 7,727 Right Of Use Asset 427 460 Goodwill 688 686 Other Non-Current assets 4,080 4,249 Cash and Cash Equivalents 1,601 1,323 Other Current Assets 7,483 7,49
Slide 24: Leverage Position
Leverage Position in Rs. Mn 30 Sep 24 Mar-24 Mar-23 Mar-19 Mar-18 Allocable to operating assets 8,951 11,486 11,768 13,572 23,323 Allocable to under-construction/to be ~7,700 ~13,600 ~12,600 ~900 ~3,700 operationalized assets Capital productivity Net Debt 16,651# 25,086 24,368 14,472 27,023 Optimal
Slide 25: Focused on ramping-up in-house capabilities in hotel management
Focused on ramping-up in-house capabilities in hotel management • Pipeline : Hyatt Regency at Airoli and Taj at Delhi • Apart from traditional asset management, Chalet International Airport will be under franchising has also been focused on building capabilities model Adding the and talent pool for
Slide 26: Led by an Experienced Board
Led by an Experienced Board Mr. Hetal Gandhi Mr. Arthur De Haast Chairman & Independent Director Independent Director Co-Founder & MD Tano India Advisors Pvt. Ltd. Chairman of JLLs Global Capital Markets Advisory Council Mr. Joseph Conrad D’Souza Ms. Radhika Piramal Independent Director Independent
Slide 27: Our Sustainability story
Our Sustainability story DJSI SCORE ENERGY MANAGEMENT WATER & WASTE MANAGEMENT E Mobility Corporate Sustainability Assessment Wet waste treated through 100% 57 61% organic waste composters Placed 8th in the world Renewable energy Operational assets have EV charging Recycling of wastewater among cate
Slide 28: Climate Change Actions
Climate Change Actions Initiative RE100 (Renewable Energy): EP100 (Energy Productivity): EV100 (Electric Vehicles): Move to 100% renewable Double energy productivity Move entire fleet to EVs for energy by 2030 (revenue per unit of electricity guest transportation by 2025 consumed) by 2028 The Compan
Slide 29: Chalet's Pipeline: Growth From Quality Development & Acquisitions leading to Value Creation
Chalet’s Pipeline : Growth From Quality Development & Acquisitions leading to Value Creation 29
Slide 30: Hospitality Pipeline
Hospitality Pipeline 4,087 Keys 3,917 Keys ~1,035 3,637 Keys rooms 3,247 Keys 3,052 Keys Mar 2024 FY25 FY26 FY27 FY28 + 195 Keys + 385-390 Keys + 280 Keys + 170 Keys ~125 - 130 Keys ‘Taj’ at Terminal 3, Delhi ‘Hyatt Regency’ at Airoli, Upper-upscale hotel in Bengaluru Marriott Hotel Airport Mumbai V
Slide 31: Rental/Annuity: Growth and Announced pipeline
Rental/Annuity: Growth and Announced pipeline 3.3 msf 37% 2.4 msf 1.2 msf Mar’23 FY24 FY27 0.9 msf 0.9 msf CIGNUS Powai® Tower I CIGNUS Powai® Tower II 0.3 msf CIGNUS Whitefield Bangalore® Tower II Focus on maximizing development potential and creating an additional diversified revenue stream 31
Slide 32: Profit & Loss Statement – 5 Year trend
Profit & Loss Statement – 5 Year trend Particulars (Consolidated) (in Rs. Mn) FY24 FY23 FY22 FY21 FY20 FY19 ADR 10,718 9,169 4,576 4,040 8,482 8,210 Occupancy 73% 72% 51% 30% 71% 77% RevPAR 7,776 6,605 2,355 1,214 6,022 6,283 Total Income 14,370 11,780 5,297 3,075 10,087 10,348 Total Expenditure 8,3
Slide 33: Balance Sheet – 5 Year trend
Balance Sheet – 5 Year trend Particulars (in Rs. Mn) FY24 FY23 FY22 FY21 FY20 FY19 Inventory Hotels 10 8 7 7 7 6 Rooms 3,052 2,634 2,554 2,554 2,554 2,311 Capital Employed 38,368 38,531 35,821 32,276 32,816 28,348 Investments# 6,596 5,985 3,489 1,433 3,277 656 Net Worth 18,509 15,415 13,410 14,329 1
Slide 34: 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 investorrelations@chalethotels.com
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