Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q4 FY24 Earnings Presentation
29 slides from Chalet Hotels's earnings presentation, May 13, 2024
Slide 1: Exchange filing cover letter for investor presentation
May 13, 2024 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: Inve
Slide 2: Investor Presentation Q4 FY24
INVESTOR PRESENTATION Q4 FY24
Slide 3: 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 4: Strong Macro story
Strong Macro story ✓ 6.3% Expected GDP growth over 2024-28 ✓ Total passenger –14% above FY23 ✓ Concerted towards tourism related India’s Air traffic ✓ International passenger’s share rising story Resurgence infrastructure development ✓ Hotel sector’s GDP contribution to grow 25x to US$1 tn by 2047 ✓
Slide 5: Milestones achieved during the year
Milestones achieved during the year ESG Wins Business Performance Portfolio Expansion ESG Wins Best Q4 & Fiscal ever 418 keys added 3 msf green footprint ✓ Revenue Rs.4.2 bn & Rs. 14.4 bn • New launch - 168 keys All women run DJSI Score of 57 ✓ EBITDA Rs. 1.9 bn & Rs. 6.0 bn Placed 8th in the world
Slide 6: Strong Balance Sheet
Strong Balance Sheet Successfully raised Rs. 10 Bn Net Debt Rs. Bn QIP concluded on April 03rd 2024 • Funds utilized for paring down debt – -9 Rs. 9 Bn • General corporate purposes & issue expenses – Rs. 1 Bn 5
Slide 7: Portfolio trajectory
Portfolio trajectory March 2023 March 2024 FY27* Hotels 8 10 12 Keys 2,634 3,052 3,917 Brands 10 11 13 Msf commercial 1.2 2.4 3.3 *Does not take into account future M&A opportunities that may arise 6
Slide 8: Q4FY24 Operational Highlights
Q4FY24 OPERATIONAL HIGHLIGHTS
Slide 9: Consolidated Performance Highlights
Consolidated Performance Highlights Best quarter ever – Highest Revenue, EBITDA & PAT In Rs. Mn. REVENUE ADJUSTED EBITDA PAT 23% 23% 2.25x 4,244 824 3,799 1,971 706 3,458 1,722 1,603 366 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24* Q4FY23 Q3FY24 Q4FY24 YoY *Q4FY24 EBITDA Adjusted towards one-time expe
Slide 10: Hospitality: Best Q4 & Fiscal
Hospitality: Best Q4 & Fiscal In Rs. Mn. Revenue Revenue Room Q4FY23 1,922 946 3,097 Room F&B FY23 6,157 3,386 10,284 F&B Q3FY24 2,054 1,134 3,434 Other Other FY24 7,993 4,009 12,930 Q4FY24 2,379 1,190 3,830 Total Total 24% 26% EBITDA EBITDA Q4FY23 1,472 FY23 4,321 Q3FY24 1,589 FY24 5,742 Q4FY24 1,8
Slide 11: Hospitality: Key Metrics
Hospitality: Key Metrics Q4FY24 Q4FY23 YoY% FY24 FY23 YoY% ADR (Rs.) Same store MMR 12,173 11,976 2% 11,121 9,741 14% Q4FY24 ADR Others* 11,474 10,228 12% 10,188 8,277 23% at Rs. 12,159 Combined 11,862 11,304 5% 10,718 9,169 17% up by 8% Occupancy (%) MMR 81% 77% 4 pp 77% 74% 3 pp Others* 70% 70% 1
Slide 12: Hospitality: Enhanced Efficiencies
Hospitality: Enhanced Efficiencies Total expenses % of Revenue 58.0% 55.6% 52.2% 52.5% Q4FY24 Q4FY23 FY24 FY23 Staff to room ratio* Utilities % of Revenue Payroll Costs % of Revenue 0.93 0.93 12.8% 12.2% 11.9% 5.8% 10.6% 5.2% 4.1% 4.6% Mar-24 Mar-23 Q4FY24 Q4FY23 FY24 FY23 Q4FY24 Q4FY23 FY24 FY23 *I
Slide 13: Rental/Annuity: Performance Highlights
Rental/Annuity: Performance Highlights Msf. (Rs. Mn.) Q4FY24 FY24 FY23 Total Revenue 354 1,241 1,000 2.4 EBITDA 272 988 838 1.2* EBITDA% 77% 80% 84% 1.1 0.5 New towers under leasing Mar' 23 Mar' 24 Leasable Area Leased Area Artists’ rendering * Leasing for 0.7 mn CIGNUS Whitefield Bengaluru started
Slide 14: Profit & Loss Statement
Profit & Loss Statement Particulars (in Rs. Mn) Q4FY24 Q3FY24 QoQ% Q4FY23 YoY% FY24 FY23 YoY% Total Income 4,244 3,799 12% 3,458 23% 14,370 11,780 22% Total Expenditure 2,354 2,077 13% 1,855 27% 8,327 6,757 23% EBITDA 1,890 1,722 10% 1,603 18% 6,044 5,023 20% Margin % 44.5% 45.3% -80 bps 46.4% -180
Slide 15: Leverage Position
Leverage Position in Rs. Mn 30 Apr 24 Mar-24 Mar-23 Mar-19 Mar-18 Allocable to operating assets 11,486 11,768 13,572 23,323 Allocable to under-construction/to be ~13,600 ~12,600 ~900 ~3,700 operationalized assets Capital productivity Net Debt 14,561 25,086 24,368 14,472 27,023 Optimal leverage Consi
Slide 16: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (in Rs. Mn) Mar 24 Mar 23 Fixed Assets 24,464 21,000 Investment Properties 8,027 7,895 Capital Work in Progress 10,789 9,557 (Inc Investment Property under construction) Right of use asset 460 525 Goodwill 686 537 Other Non-Current assets 4,248 2,750 Cash and C
Slide 17: Project Updates
PROJECT UPDATES
Slide 18: Strong Pipeline
Strong Pipeline New Rooms/ Leasable area Location Completion update The Dukes Retreat Renovation & Expansion 65 New Lonavala Q3 FY25 Existing rooms – 80 Bengaluru Marriott Hotel Whitefield Expansion 125-130 rooms Bengaluru FY25 Existing rooms – 391 Taj at Delhi International Airport 385-390 rooms Ne
Slide 19: Hospitality Pipeline
Hospitality Pipeline 3,917 Keys 3,637 Keys ~865 3,247 Keys rooms 3,052 Keys 2,634 Keys Mar 2023 Mar 2024 FY25 FY26 FY27 + 418 Keys + 195 Keys + 385-390 Keys + 280 Keys +88 Keys ~125 - 130 Keys ‘Taj’ at Terminal 3, Delhi ‘Hyatt Regency’ at Airoli, Novotel Pune Bengaluru Marriott Hotel Airport Mumbai
Slide 20: 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 19
Slide 21: Real-estate Development in Bengaluru
Real-estate Development in Bengaluru Avg sales price As of Mar’24 (Msf) No. of Units (psf) Residential 0.85 321 (A+B) Sold in FY24 0.29 121 18,839 Total sales till 0.57 204 date (A) Unsold (B) 0.29 117 Commercial 0.15 9 2 Rs. 3,196 Mn 1 Residential Towers New Residential Receivables (March 2024) Com
Slide 22: About Chalet
ABOUT CHALET
Slide 23: Hospitality: Existing Portfolio
Hospitality: Existing Portfolio 3,052 Operational 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 Nagar Road 311 Key
Slide 24: Rental/Annuity: Existing Portfolio
Rental/Annuity: Existing Portfolio 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. Leasing commenced, CIGNUS Whitefield Bangalore® Tower II 0.3 msf handover soon to start 23
Slide 25: Our Sustainability story
Our Sustainability story DJSI SCORE ENERGY MANAGEMENT WATER & WASTE MANAGEMENT E Mobility Corporate Sustainability Assessment Wet waste treated through 100% 57 65% Organic Waste Composters Placed 8th in the world Renewable energy Operational assets have EV charging Recycling of wastewater among cate
Slide 26: Climate Change Actions
Climate Change Actions Company has signed up for all the three initiatives of The Climate Group The Company sourced 65% of its The Company is strategically investing All our operational assets are equipped electricity from renewable sources in technology and IoT-enabled with EV charging points acces
Slide 27: 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 28: 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 29: 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 Shuchi Aggarwal Shuchi.aggarwal@chalethotels.com investorrelations@chalethotels.com