Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q2 FY2020 Earnings Presentation
29 slides from Chalet Hotels's earnings presentation, Nov 9, 2019
Slide 1: Chalet Hotels – Investor/Analyst Presentation cover letter
CHALET HOTELS November 9, 2019 National Stock Exchange of India Limited BSE Limited Exchange Plaza Corporate Relationship Department Sandra Kurla Complex, 1 51 Floor, New Trading Ring, Bandra (East), Dalal Street, Fort, Mumbai 400 051. Mumbai 400 001. Scrip Code: CHALET Scrip Code: 542399 Dear Sir/
Slide 2: Presentation November 2019
Presentation November 2019 1
Slide 3: What Defines Us
What Defines Us Pedigree K Raheja Corp Limited Leading real estate developer in India for over 6 Decades Proficiency Right Assets Right Location Right Partnership Right Team Performance Robust Operating Performance 2
Slide 4: Business Performance
Business Performance 3
Slide 5: Highlights for Q2FY20
Highlights for Q2FY20 Rs. 5,802 Rs. 200 Mn Rs. 0.50 RevPAR PBT EPS* Rs. 5,672 Rs. (286) Mn Rs. (0.73) * Not annualised 4
Slide 6: Highlights for H1FY20
Highlights for H1FY20 Rs. 5,935 Rs. 405 Mn Rs. 1.18 RevPAR PBT EPS* Rs. 5,804 Rs. (583) Mn Rs. (2.06) * Not annualised 5
Slide 7: Consolidated Q2FY20 Performance
Consolidated Q2FY19 Performance (In Rs. Mn) Total Income* EBITDA** Margin % PBT 2,572 2,405 867 200 36.0% 541 21.0% (286) Q2FY19 ** Q2FY20 Q2FY19 Q2FY20 Q2FY19 Q2FY20 Q2FY19 Q2FY20 * Treasury income lower by Rs 56 mn **Includes Exchange loss of Rs 389 Mn (CY NIL) 6
Slide 8: Consolidated H1FY20 Performance
Consolidated H1FY19 Performance (In Rs. Mn) Total Income * EBITDA** Margin % PBT 5,028 1,721 405 4,867 35.4% 1,412 28.1% (583) H1FY19** H1FY20 H1FY19 H1FY20 H1FY19 H1FY20 H1FY19 H1FY20 * Treasury income lower by Rs 103 mn **Includes Exchange loss of Rs 389 Mn (CY NIL) 7
Slide 9: Highlights of the Quarter
Highlights of the Quarter Industry Industry • Sluggish Consumer spends • Positive demand supply arbitrage • General economic slowdown • Extended and disruptive Monsoon Chalet Hotels Limited Chalet Hotels Limited • ADR driven RevPAR growth • Lower Banquet and MICE revenue • Occupancy steady at 74% •
Slide 10: Hospitality City-wise performance
Hospitality City-wise performance H1FY20 Revenue Rs 4,244 Mn Q2FY20 Q2FY19 YoY % H1FY20 H1FY19 YoY% FY19 ADR (Rs.) Bengaluru MMR 7,611 7,486 2% 7,735 7,558 2% 8,086 19% Bengaluru 8,543 8,183 4% 8,686 8,442 3% 8,756 Hyderabad Hyderabad 7,809 7,485 4% 7,967 7,713 3% 8,205 MMR 19% Combined 7,815 7,609
Slide 11: Hospitality Segment Q2FY20
Hospitality Segment Q2FY20 (In Rs. Mn) Revenue Segment Profit* Margin % Revenue Break-up Q2FY20 2,075 2,046 749 36.6% F&B 405 19.5% 31% Room 61% Others Q2FY19 Q2FY20 Q2FY19** Q2FY20 Q2FY19 Q2FY20 8% * Segment Profit before Interest Depreciation and Tax ** Includes Exchange loss of Rs 367 Mn (CY NIL)
Slide 12: Hospitality Segment H1FY20
Hospitality Segment H1FY20 (In Rs. Mn) Revenue Segment Profit* Margin % Revenue Break-up H1FY20 37.7% 4,244 4,244 1,602 30.0% 1,272 F&B 31% Room 60% Others H1FY19 H1FY20 H1FY19 ** H1FY20 H1FY19 H1FY20 9% * Segment Profit before Interest Depreciation and Tax ** Includes Exchange loss of Rs 367 Mn (CY
Slide 13: Retail & Office Space Q2FY20
Retail & Office Space Q2FY20 (In Rs. Mn) Revenue Segment Profit* Margin % 307 222 72% Updates: 38% • Straight Line Impact on lease rental 105 Rs 202 mn (PY: Rs. 27 mn) 40 • Sahar Office Tower Q2FY19 Q2FY20 • Phase 1: Fit-outs completed and Q2FY19 Q2FY20 Q2FY19 Q2FY20 occupancy achieved • Two-third o
Slide 14: Retail & Office Space H1FY20
Retail & Office Space H1FY20 (In Rs. Mn) Revenue Segment Profit* Margin % 459 64% Updates: 296 • Straight Line Impact on lease rental 170 26% Rs 270 mn (PY: Rs. 31 mn) 45 H1FY19 H1FY20 H1FY19 H1FY20 H1FY19 H1FY20 Brands opened at The Orb jamjoji PLAY THE CAFE DRAGONFLY STARBUCKS The Cheaters NASI an
Slide 15: Consolidated Profit / Loss Statement
Consolidated Profit / Loss Statement (In Rs. Mn) Particulars Q2FY20 Q2FY19 YoY% H1FY20 H1FY19 YoY% FY19 Total Income 2,405 2,572 -7% 4,867 5,028 -3% 10,348 Total Expenditure 1,538 2,0321 -24% 3,146 3,6161 -13% 6,679 EBITDA 867 541 60% 1,721 1,412 22% 3,668 Margin % 36.0% 21.0% 35.4% 28.1% 35.5% Depr
Slide 16: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement (In Rs. Mn) Particulars Sep 30, 2019 March 31, 2019 Fixed Assets 20,131 20,492 Capital Work in-progress 498 342 Investment Property 6,951 6,810 Other Non-Current assets 2,054 1,961 Current Assets 5,923 5,994 TOTAL ASSETS 35,558 35,599 Total Equity 14,646 14,255 T
Slide 17: Debt Position
Debt Position Debt Movement 27,093 (In Rs. Mn) 22,173 14,942 14,494 13,141 12,706 4,920 1,801 1,788 Mar-18 Mar-19 Sep-19 ECB Loans Rupee Loan Consolidated March 31, 2018 March 31, 2019 Sep 30, 2019 Total Debt / Equity 5.5 1.0 1.0 Total Debt / EBITDA 9.0 4.1 - USD:INR Conversion rate used 65.04 69.17
Slide 18: About Chalet..
About Chalet.. 17
Slide 19: Well Positioned to Benefit from Industry Trends
Well Positioned to Benefit from Industry Trends Located in INR 10,348 Mn INR 3,668 1 Mn High Density / 35.5% About the Company Business Districts Hospitality the leading Mumbai, Bengaluru, Total Income – FY2019 EBITDA and EBITDA Hyderabad Margin – FY2019 business driver Others Commercial 8% and Reta
Slide 20: Our Hotel Portfolio
Our Hotel Portfolio JW Marriott Mumbai Sahar Bengaluru Marriott Hotel Whitefield The Westin Hyderabad Mindspace (427 Keys) (588 Keys) (391 Keys) Strategically Chosen Brands at Key Locations Leading to Market Leadership Four Points by Sheraton Navi Renaissance Mumbai Convention Centre Hotel (600 Keys
Slide 21: Portfolio of High-End, Globally Recognized, Branded Hotels
Portfolio of High-End, Globally Recognized, Branded Hotels 588 Top tier 600 173 5 star 2,179 Deluxe Luxury Keys 152 * Luxury – Upper Upscale Mumbai Hyderabad 152 4–5 Bengaluru Keys star Upscale 3-4 Upper-Midscale star 2-3 391 427 Midscale-Economy star * Under Franchise Agreement, Leasehold Land 21
Slide 22: Key Awards
Key Awards Loved By Guest Award Winner 2019 - Expedia – Four Points by Sheraton, Vashi Most Luxurious Spa Treatment 2019 – J W Marriott Mumbai Sahar Best Business Hotel in Maharashtra Business Leaders Award 2019 – Four Points by Sheraton, Vashi Hotel Manager of the Year Best Business Hotel National
Slide 23: 65% of Current Inventory in the Financial Capital of India
65% of Current Inventory in the Financial Capital of India Located in Central Business District and New Business Centers of Mumbai Metropolitan Region Favorable Demand/Supply Current Inventory Proposed Pipe-line Dynamics (1,513 Keys) Inventory (~410 keys) + 1 Infrastructure Opportunities augurs well
Slide 24: Strategically placed in Business Cities
Strategically placed in Business Cities Located in New Business Centers Bengaluru Hyderabad Current Inventory 391 427 Mindspace Whitefield ~170 Proposed Pipe-line Inventory 1 Ongoing Infrastructure Developments in the Micro Markets Bengaluru Hyderabad • Metro Line • Metro Line • Improved road infras
Slide 25: Business Model Built Upon Principles of Active Asset Management
Business Model Built Upon Principles of Active Asset Management ✓ Market Leading Operating Parameters Actively engage with hotel management team at each hotel to set operational and financial targets Employee Cost as a % of ✓ 14% Revenue (FY19) Drive performance through structured monthly review Sta
Slide 26: Hotel-led Complementary Mixed-Use Commercial and Retail Developments
Hotel-led Complementary Mixed-Use Commercial and Retail Developments Strategy of co-locating projects augur well for Business Demand coupled with optimal utilization of available land Office and Retail (0.9 Mn sqft) Inorbit Mall Office Tower Whitefield, Bengaluru Whitefield, Bengaluru 260K sq ft of
Slide 27: Proposed Development Pipeline in Key Business Districts
Proposed Development Pipeline in Key Business Districts Hotel and Convention Center Hotel Commercial Location Renaissance Complex, Powai Airoli, Navi Mumbai Renaissance Complex, Powai Proposed Brand ‘W’3 Hyatt Regency 4 - Est. opening 20221 20221 20211 Keys / Total Build Up Area ~150 Keys & ~40k Sqf
Slide 28: 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 29: Thankyou
Thankyou Investor Relations Contact: Ruchi Rudra E-mail: ruchi.rudra@chalethotels.com / investorrelations@chalethotels.com Phone: 022 2656 4000 /4332 Chalet Hotels Limited Raheja Towers, 4th Floor, Block G, BKC, Mumbai 400 051 29