Lemon Tree Hotels Ltd. · NSE:LEMONTREE
Lemon Tree Hotels — Q4 FY25 Earnings Presentation
50 slides from Lemon Tree Hotels's earnings presentation, May 29, 2025
Slide 1: Exchange filing cover letter: Investor Presentation for Q4 & FY25 results
May 29, 2025 National Stock Exchange of India Limited BSE Limited Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers Bandra (East) Dalal Street, Mumbai – 400 001 Mumbai – 400 051 Name of Scrip: LEMONTREE BSE Scrip Code: 541233 Subject: Investor Presentation – For Q4 & FY25 Audited Finan
Slide 2: Q4 FY25 and FY25 Earnings Presentation
29-May-2025 Q4 FY25 Earnings Presentation 1 Q4 FY25 and FY25 Earnings Presentation 29th May 2025 Aurika, Mumbai SkyCity Aurika, Udaipur
Slide 3: Disclaimer
29-May-2025 Q4 FY25 Earnings Presentation 2 Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actu
Slide 4: Chairman & Managing Director's Message
Q4 FY25 Earnings Presentation 29-May-2025 3 Chairman & Managing Director’s Message Commenting on the performance for Q4 FY25 and FY25, Mr. Patanjali Keswani, Chairman & Managing Director – Lemon Tree Hotels Limited said, In Q4, this year Lemon Tree recorded its highest-ever fourth-quarter revenue. A
Slide 5: We Are Everywhere
29-May-2025 Q4 FY25 Earnings Presentation 4 WE ARE EVERYWHERE Operational – 111 hotels; 10,269 rooms and 73 destinations Pipeline – 101 hotels; 6,847 rooms and 77 destinations Total operational and pipeline – 212 hotels; 17,116 rooms and 130+ unique destinations
Slide 6: Q4 FY25 performance across key financial metrics; Best Ever Q4
29-May-2025 Q4 FY25 Earnings Presentation 5 Q4 FY25 performance across key financial metrics; BEST EVER Q4 Q4 FY25 performance snapshot vs Q4 FY24 (YoY change) Total Revenue Net EBITDA Net EBITDA % Rs. 379.4 Cr Rs. 205.0 Cr 54.0% Up 15% Up 17% Up 109 bps PAT Cash Profit# Cost of Debt % Rs. 108.1 Cr
Slide 7: FY25 performance across key financial metrics
29-May-2025 Q4 FY25 Earnings Presentation 6 FY25 performance across key financial metrics FY25 performance snapshot vs FY24 Total Revenue Net EBITDA Net EBITDA % Rs. 1,288.4 Cr Rs. 636.6 Cr 49.4% Up 20% Up 20% Up 28 bps PAT Cash Profit# Cost of Debt % Rs. 243.1 Cr Rs. 382.4 Cr 8.57%* Up 34% Up 30% D
Slide 8: Q4 FY25 Performance Highlights – Operational Metrics (Consolidated)
29-May-2025 Q4 FY25 Earnings Presentation 7 Q4 FY25 Performance Highlights – Operational Metrics (Consolidated) Inventory Average Room Rate (Rs.) Owned/Leased rooms Managed/Franchised Total rooms 4% rooms 4% QoQ YoY 7% 10,269 9,863 7,042 YoY 7,042 6,763 6,605 10% YoY 5,759 5,759 4,510 4,104 Q4 FY25
Slide 9: Q4 FY25 Performance Highlights – Financial Metrics (Consolidated)
29-May-2025 Q4 FY25 Earnings Presentation 8 Q4 FY25 Performance Highlights – Financial Metrics (Consolidated) Total Revenue (Rs. Cr) Net EBITDA (Rs. Cr) 17% 11% 15% 7% 205.0 YoY 205.0 QoQ YoY QoQ 379.4 379.4 355.8 184.8 331.2 175.3 Q4 FY25 Q4 FY24 Q4 FY25 Q3 FY25 Q4 FY25 Q4 FY24 Q4 FY25 Q3 FY25 EBIT
Slide 10: Q-o-Q performance of FY25, FY24 and FY23
29-May-2025 Q4 FY25 Earnings Presentation 9 Q-o-Q performance of FY25, FY24 and FY23 Best ever Q4 – highest Q4 ARR, Occ%, Revenue, EBITDA, PBT, PAT and Cash Profit Particulars Q4 FY25 Q3 FY25 Q2 FY25 Q1 FY25 Q4 FY24 Q3 FY24 Q2 FY24 Q1 FY24 Q4 FY23 Q3 FY23 Q2 FY23 Q1 FY23 Gross ARR (Rs.) 7,042 6,763
Slide 11: Y-o-Y performance of FY25, FY24 and FY23
29-May-2025 Q4 FY25 Earnings Presentation 10 Y-o-Y performance of FY25, FY24 and FY23 Best ever FY – highest FY ARR, Occ%, Revenue, EBITDA, PBT, PAT and Cash Profit CAGR% Particulars FY25 FY24 FY23 FY23 to FY25 Gross ARR (Rs.) 6,381 5,876 5,340 - Occupancy % 71.7% 69.9% 68.1% - Revenue (Rs. Cr) 1,28
Slide 12: Total Management Fees | Q4 FY25 vs Q4 FY24
29-May-2025 Q4 FY25 Earnings Presentation 11 Total Management Fees | Q4 FY25 vs Q4 FY24 44.4 38.3 28.3 23.9 + = 16.0 14.4 Management / Franchise fees from 3rd party Management Fees from Fleur Hotels Total Management Fees hotels Q4 FY25 Q4 FY24 Fees to Lemon Tree Hotels (Rs. Cr) Q4 FY25 Q4 FY24 % Man
Slide 13: Total Management Fees | FY25 vs FY24
29-May-2025 Q4 FY25 Earnings Presentation 12 Total Management Fees | FY25 vs FY24 148.9 121.9 88.6 71.8 60.3 + = 50.1 Management / Franchise fees from 3rd party Management Fees from Fleur Hotels Total Management Fees hotels FY25 FY24 Fees to Lemon Tree Hotels (Rs. Cr) FY25 FY24 % Management / Franch
Slide 14: Market Segments: Q4 FY25 vs Q4 FY24 (same store)
29-May-2025 Q4 FY25 Earnings Presentation 13 Market Segments: Q4 FY25 vs Q4 FY24 (same store i.e. for all 41 owned hotels) Market Segments Room Nights Sold Market Segments Room Revenue Q4 FY25 vs Q4 FY24 Q4 FY25 vs Q4 FY24 70 .0% 70 .0% 59.5% 58.6% 56.1% 55.8% 60 .0% 60 .0% 50 .0% 50 .0% 43.9% 44.2%
Slide 15: Market Segments: FY25 vs FY24 (same store)
29-May-2025 Q4 FY25 Earnings Presentation 14 Market Segments: FY25 vs FY24 (same store i.e. for all 41 owned hotels) Market Segments Room Nights Sold Market Segments Room Revenue FY25 vs FY24 FY25 vs FY24 60 .0% 60 .0% 55.3% 55.1% 55.3% 54.5% 50 .0% 50 .0% 44.7% 44.9% 44.7% 45.5% 40 .0% 40 .0% 30 .0
Slide 16: Q4 FY25 Operational Performance by Brands & Region
29-May-2025 Q4 FY25 Earnings Presentation 15 Q4 FY25 Operational Performance by Brands & Region (same store i.e. for all 41 owned hotels) Hotel level Average Daily Rate Hotel level EBITDAR Parameters RevPAR (Rs.) Occupancy Rate (%) EBITDAR/room/qtr. (Rs.) Margin %* (Rs. Lacs)* Q4 Q4 Change Q4 Q4 Cha
Slide 17: Consolidated P&L: Q4 FY25 vs Q4 FY24
29-May-2025 Q4 FY25 Earnings Presentation 16 Consolidated P&L: Q4 FY25 vs Q4 FY24 Q4 FY25 Consolidated P&L Waterfall – Revenue to Cash Profit (Rs. Cr) 379.4 (23.0) (57.0) (20.2) 205.0 (71.5) (2.6) 3.3 34.9 143.0 (50.6) 122.3 108.1 (34.9) (0.6) (14.1) Total Rev. RMC Payroll HLP Other Reno- EBITDA Fin
Slide 18: Consolidated P&L: FY25 vs FY24
29-May-2025 Q4 FY25 Earnings Presentation 17 Consolidated P&L: FY25 vs FY24 1288.4 FY25 Consolidated P&L Waterfall – Revenue to Cash Profit (Rs. Cr) (76.2) (218.5) (87.8) 636.5 (234.5) (35.0) 10.6 139.3 382.4 (211.2) 296.2 243.1 (139.3) (0.3) (53.1) Total Rev. RMC Payroll HLP Other Reno- EBITDA Fin.
Slide 19: Cost Structure: Q4 FY25 vs Q4 FY24
29-May-2025 Q4 FY25 Earnings Presentation 18 Cost Structure: Q4 FY25 vs Q4 FY24 * Expenses as a percentage of total revenue Down 109 bps 46.0% 47.1% Down 29 bps Down 2 bps 19.6% 19.8% 15.0% 15.1% Down 14 bps Down 64 bps 6.1% 6.2% 5.3% 6.0% Payroll expenses* F&B/Raw Material expenses* Power & Fuel ex
Slide 20: Cost Structure: FY25 vs FY24
29-May-2025 Q4 FY25 Earnings Presentation 19 Cost Structure: FY25 vs FY24 * Expenses as a percentage of total revenue Down 28 bps 50.6% 50.9% Up 55 bps Down 48 bps 20.9% 20.4% 17.0% 17.4% Up 8 bps Down 43 bps 6.8% 7.2% 5.9% 5.8% Payroll expenses* F&B/Raw Material expenses* Power & Fuel expenses* Oth
Slide 21: Lemon Tree Consolidated Profit & Loss Statement – Q4 FY25
29-May-2025 Q4 FY25 Earnings Presentation 20 Lemon Tree Consolidated Profit & Loss Statement – Q4 FY25 Q4 FY25 vs Q4 FY25 vs Rs. Cr Q4 FY25 Q3 FY25 Q4 FY24 Q3 FY25 Q4 FY24 Change (%) Change (%) Revenue from operations 378.5 355.2 327.3 7% 16% Other income 0.9 0.6 3.9 41% -77% Total revenue 379.4 355
Slide 22: Lemon Tree Consolidated Profit & Loss Statement Breakup
29-May-2025 Q4 FY25 Earnings Presentation 21 Lemon Tree Consolidated Profit & Loss Statement Breakup Lemon Tree Consolidated Keys Hotels Lemon Tree Consolidated excluding Keys Hotels Rs. Cr Q4 Q3 Q4 QoQ YoY Q4 Q3 Q4 QoQ YoY Q4 Q3 Q4 QoQ YoY FY25 FY25 FY24 Change Change FY25 FY25 FY24 Change Change F
Slide 23: Discussion on Consolidated Financial & Operational Performance – Q4 FY25
29-May-2025 Q4 FY25 Earnings Presentation 22 Discussion on Consolidated Financial & Operational Performance – Q4 FY25 ❖ Total Revenue stood at Rs. 379.4 Cr in Q4 FY25 which was up 6.6% from Rs. 355.8 Cr in Q3 FY25 and was up 14.6% as compared to Rs. 331.2 Cr in Q4 FY24 ❖ Gross ARR stood at Rs. 7,042
Slide 24: Lemon Tree Consolidated Profit & Loss Statement – FY25
29-May-2025 Q4 FY25 Earnings Presentation 23 Lemon Tree Consolidated Profit & Loss Statement – FY25 FY25 vs Rs. Cr FY25 FY24 FY24 Change Revenue from operations 1,286.1 1,071.1 20% Other income 2.3 5.6 -59% Total income 1,288.4 1,076.8 20% Total expenses 652.0 547.9 19% Net EBITDA 636.5 528.9 20% Ne
Slide 25: Lemon Tree Consolidated Balance Sheet – FY25
29-May-2025 Q4 FY25 Earnings Presentation 24 Lemon Tree Consolidated Balance Sheet – FY25 FY25 vs Rs. Cr FY25 FY24 FY24 Change % Shareholder's Funds 1163.5 966.9 20% Non-controlling interests 626.1 579.5 8% Total Shareholder’s equity 1789.6 1546.4 16% Total Debt 1698.6 1889.1 -10% Other Non-current
Slide 26: Hotel Network Revenue – Delta in Q4 FY25 vs Q4 FY24
29-May-2025 Q4 FY25 Earnings Presentation 25 Lemon Tree Hotel Network Revenue – Delta in Q4 FY25 vs Q4 FY24 35 582 50 497 Q4 FY24 Total Network Revenue Owned Hotels Managed and Franchised Hotels Q4 FY25 Total Network Revenue Hotel Network Revenue Q4 FY25 vs Q4 FY24 Change Q4 FY25 Q4 FY24 (Rs. Cr) (%
Slide 27: Hotel Network Revenue – Delta in FY25 vs FY24
29-May-2025 Q4 FY25 Earnings Presentation 26 Lemon Tree Hotel Network Revenue – Delta in FY25 vs FY24 144 1,978 205 1,629 FY24 Total Network Revenue Owned Hotels Managed and Franchised Hotels FY25 Total Network Revenue Hotel Network Revenue FY25 FY24 FY25 vs FY24 Change (%) (Rs. Cr) Owned Hotels 1,2
Slide 28: Expansion Plans – Hotels under Development
29-May-2025 Q4 FY25 Earnings Presentation 27 Expansion Plans – Hotels under Development Expected Under-development hotels Type Rooms Opening date Aurika, Shimla (rebranded from Lemon Tree Mountain Resort, Shimla) Owned 91 TBD Aurika, Shillong Owned 165* TBD For Aurika, Shimla total capital deploye
Slide 29: Hotel opened in Q4 FY25 (managed & franchised contracts)
29-May-2025 Q4 FY25 Earnings Presentation 28 Hotel opened in Q4 FY25 (managed & franchised contracts) # Hotels Pipeline States / Country Rooms Opened in 1 Keys Lite by Lemon Tree Hotels, Vadodara Gujarat 63 Jan-25 2 Keys Prima by Lemon Tree Hotels, Kota Rajasthan 58 Mar-25 Total openings 121
Slide 30: Hotels signed in Q4 FY25 (managed & franchised contracts)
29-May-2025 Q4 FY25 Earnings Presentation 29 Hotels signed in Q4 FY25 (managed & franchised contracts) # Hotels Pipeline States Rooms Expected Opening 1 Keys Select by Lemon Tree Hotels, GS Road, Guwahati Assam 55 FY26 2 Keys Lite by Lemon Tree Hotels, Niman Madhya Pradesh 42 FY26 3 Keys Lite by Lem
Slide 31: Pipeline of managed & franchised contracts by opening (1 of 3)
29-May-2025 Q4 FY25 Earnings Presentation 30 Expansion Plans – Pipeline of managed & franchised contracts by opening (1 of 3) # Hotel Pipeline State Rooms Expected Openings 1 Bhangeri Durbar Resort, operated by Lemon Tree Hotels, Nepal Nepal 51 FY26 2 Keys Lite by Lemon Tree Hotel Dehradun Dehradun
Slide 32: Pipeline of managed & franchised contracts by opening (2 of 3)
29-May-2025 Q4 FY25 Earnings Presentation 31 Expansion Plans – Pipeline of managed & franchised contracts by opening (2 of 3) # Hotel Pipeline State Rooms Expected Openings 34 Lemon Tree Hotel, Meerut Uttar Pradesh 75 FY26 35 Lemon Tree Hotel, Mira Road, Mumbai (now open) Maharashtra 108 FY26 36 Lem
Slide 33: Pipeline of managed & franchised contracts by opening (3 of 3)
29-May-2025 Q4 FY25 Earnings Presentation 32 Expansion Plans – Pipeline of managed & franchised contracts by opening (3 of 3) # Hotel Pipeline State Rooms Expected Openings 67 Lemon Tree Hotel, Kundapura Karnataka 80 FY27 68 Lemon Tree Hotel, Pune Maharashtra 117 FY27 69 Lemon Tree Hotel, Ranchi Jha
Slide 34: Expected opening of inventory in pipeline of managed & franchised contracts
29-May-2025 Q4 FY25 Earnings Presentation 33 Expected opening of inventory in pipeline of managed & franchised contracts (as of 31st March 2025) To be Total Brands FY26 FY27 FY28 FY29 FY30 announced Rooms (TBA) (Hotels) Aurika Hotels & 132 82 175 110 499 - - Resorts (1) (1) (1) (1) (4) Lemon Tree 46
Slide 35: Lemon Tree – Snapshot as on 31st March 2025
29-May-2025 Q4 FY25 Earnings Presentation 34 Lemon Tree – Snapshot as on 31st March 2025 Operational Pipeline Operational + Pipeline Group 10,269 rooms; 6,847 rooms; 17,116 rooms; 111 hotels 101 hotels 212 hotels Brand Current Pipeline Operational + Pipeline Aurika Hotels & Resorts 808 Rooms; 2 Hote
Slide 36: Portfolio Breakup as on 31st March 2025 - Operational
29-May-2025 Q4 FY25 Earnings Presentation 35 Portfolio Breakup as on 31st March 2025 - Operational Owned (incl. on leased Operational Portfolio Leased Managed/ Franchised Total land) Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Aurika Hotels & Resorts 2 808 0 0 0 0 2 808 Lemon Tree Premier 7
Slide 37: Portfolio Breakup as on 31st March 2025 - Pipeline
29-May-2025 Q4 FY25 Earnings Presentation 36 Portfolio Breakup as on 31st March 2025 - Pipeline Owned (incl. on Public Private Managed/ Pipeline Portfolio Leased Total leased land) Partnership Franchised Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Aurika Hotels & Resorts 1 91 0
Slide 38: Update on the Roadmap for next 5 years CY24 to CY28
29-May-2025 Q4 FY25 Earnings Presentation 37 Update on the Roadmap for next 5 years CY24 to CY28 Aurika, Mumbai SkyCity
Slide 39: Lemon Tree 2.0: Roadmap for next 5 years – CY24 to CY28
29-May-2024 Q4 FY24 Earnings Presentation 38 Lemon Tree 2.0: Roadmap for next 5 years – CY24 to CY28 Lemon Tree 2.0 Superior financial Mid-market hotel Strong balance Leader in Leader in performance flagbearer sheet digital ESG Strategic Levers (How will we make this Asset Light Digital Simplifying
Slide 40: LT 2.0: setting clear and achievable outcomes over the next 5 years
29-May-2024 Q4 FY24 Earnings Presentation 39 LT 2.0: setting clear and achievable outcomes over the next 5 years – CY24 to CY28 Superior financial Mid-market hotel leader Strong balance sheet Leader in digital Leader in ESG performance Bionic Revenue 100% green 20k+ hotel rooms Management certified
Slide 41: On track to meet guidance for the next 5 years (1 of 3)
29-May-2024 Q4 FY24 Earnings Presentation 40 On track to meet guidance given for the next 5 years – CY24 to CY28 (1 of 3) Net EBITDA % Debt (Rs. Cr) 50.0% 1,889 1,699 49.4% 49.1% 0 FY24 FY25 FY26 FY27 FY28 Target for FY24 FY25 FY26 FY27 FY28 Target for CY28/FY29 CY28/FY29 RoCE% Retail Demand Share %
Slide 42: On track to meet guidance for the next 5 years (2 of 3)
29-May-2024 Q4 FY24 Earnings Presentation 41 On track to meet guidance given for the next 5 years – CY24 to CY28 (2 of 3) Inventory (Operational + Pipeline) Movement from FY24 to CY28/FY29 20,000+ 17,116 15,000+ 14,019 11,101 8,191 5,828 6,015 6,000+ Owned Rooms Managed & Franchised Rooms Total FY24
Slide 43: Annexure
29-May-2025 Q4 FY25 Earnings Presentation 42 Annexure Lemon Tree Hotel, Dubai
Slide 44: Aurika, Shimla | Representation
29-May-2025 Q4 FY25 Earnings Presentation 43 Aurika, Shimla (rebranded from Lemon Tree Mountain Resort, Shimla) | Representation
Slide 45: Aurika, Shimla | Current
29-May-2025 Q4 FY25 Earnings Presentation 44 Aurika, Shimla (rebranded from Lemon Tree Mountain Resort, Shimla) | Current
Slide 46: Aurika, Shimla | Current
29-May-2025 Q4 FY25 Earnings Presentation 45 Aurika, Shimla (rebranded from Lemon Tree Mountain Resort, Shimla) | Current
Slide 47: Aurika, Shillong | Current
29-May-2025 Q4 FY25 Earnings Presentation 46 Aurika, Shillong| Current
Slide 48: ESG | Highlights of FY24 initiatives
29-May-2025 Q4 FY25 Earnings Presentation 47 ESG | Highlights of FY24 initiatives Energy Renewable energy Green building Diversity and inclusion 15% 6.93% 50% 10.75% 100% 29.27% 30% 16.96% Reduction in Reduction in Renewable energy Renewable energy Certified Green Certified Green ODIs1 in the ODIs1
Slide 49: Conference Call Details
29-May-2025 Q4 FY25 Earnings Presentation 48 Conference Call Details Timing 2:00 PM IST, Friday, May 30, 2025 Conference dial-in Primary number +91 22 6280 1141 / +91 22 7115 8042 Singapore Toll Free Number 800 101 2045 Hong Kong Toll Free Number 800 964 448 USA Toll Free Number 1 866 746 2133 UK To
Slide 50: About Lemon Tree Hotels
29-May-2025 Q4 FY25 Earnings Presentation 49 About Lemon Tree Hotels Lemon Tree Hotels Limited (LTHL) is one of the largest hotel chains in India, and owns/leases/operates/franchises hotels across the upscale, upper-midscale, midscale and economy segments. LTHL delivers differentiated yet superior s