Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q2 FY2023 Earnings Presentation
24 slides from Chalet Hotels's earnings presentation, Oct 21, 2022
Slide 1: Exchange filing cover letter for investor presentation
October 21, 2022 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: Investor Presentation Q2FY23
Investor Presentation Q2FY23
Slide 3: Looking Forward to Robust Upcycle – Q2FY23
Looking Forward to Robust Upcycle – Q2FY23 Post-pandemic Stability Steady Increase Strong F&B Continues in ADR Performance Up 4%* Up 1%* Up 18%* Consol. Revenue Sequentially up 6% Revenue Up 1%* Rs. 9,050 Consol. EBITDA Best post-pandemic (For September 2022) *Vs Q2FY20 2
Slide 4: Operational Overview
01. Operational Overview
Slide 5: Consolidated Performance
Consolidated Performance Like-to-like performance (In Rs. Mn) 4%* Q2FY23 Revenue 2,553 2,505 2,405 10% 2% 1%* 1,042 867 877 89% Hospitality Rental / Annuity Others Q2FY20 Q1FY23 Q2FY23 Revenue EBITDA Adjusted for: 1. Q1FY23: Non-Recurring income Q1FY23 of Rs. 46 mn includes - Interest on Income tax
Slide 6: Steady Increase in ADR
Steady Increase in ADR September 2022 ADR 10% above September 2019 ADR (Rs.) Occupancy % 10, 000 8,223 85% 9,0 00 8,078 8,240 8,063 7,815 7,931 7,734 8,0 00 7,502 83% 81% 7,0 00 79% 6,0 00 76% 75% 75% 77% 5,0 00 74% 74% 75% 74% 74% 75% 4,0 00 73% 3,0 00 71% 2,0 00 69% 7,457 7,930 7,117 7,619 7,650 7
Slide 7: Hospitality City-wise Performance
Hospitality City-wise Performance Q2FY23 Q1FY23 QoQ% Q2FY20 YoY% FY22 ADR (Rs.) Q2FY23 Revenue Rs. 2,233 Mn MMR 8,314 7,988 2% 7,611 7% 4,714 Bengaluru 7,702 7,344 5% 8,543 -10% 4,403 6% Hyderabad 8,992 6,980 29% 7,809 15% 4,850 Pune 5,377 5,099 5% 3,505 20% Combined 7,930 7,457 6% 7,815 1% 4,576 Oc
Slide 8: Hospitality Revenue Mix
Hospitality Revenue Mix (In Rs. Mn) 3,0 00 5%* 9%* 2,498 2,5 00 8% 2,298 2,233 2,198 2,046 6% 9% 2,010 8% 8% 2,0 00 33% 8% 35% 33% 32% 1,5 00 31% 32% 1,0 00 59% 59% 59% 61% 60% 59% 500 0 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q1FY23 Q2FY23 Room F&B Other * YoY Vs same quarter FY20 7
Slide 9: Enhanced Efficiencies – Hospitality Q2FY23
Enhanced Efficiencies – Hospitality Q2FY23 30 Bps improvement in Staff to room ratio** EBITDA Margins 0.90 Sept-22 (as compared to Q2FY20) (1.18 as on Dec-19) Efficiencies in fixed costs continue Payroll Costs % of Revenue Utilities as a % of Revenue 22% 15% 14% 13% 11% 7% 6% 7% **Includes contractu
Slide 10: Rental / Annuity Business
Rental / Annuity Business (In Rs. Mn) Steady Rental from Commercial Portfolio FY21 FY22 Q1FY23 Q2FY23 Total Revenue 931 1,050 231 244 SLM 115 75 12 27 EBITDA 724 789 183 198 Margin % 78% 75% 80% 81% The Orb – Office Tower, Sahar - 94% space leased 9
Slide 11: Consolidated Profit / Loss Statement
Consolidated Profit / Loss Statement (In Rs. Mn) Particulars Q2FY23 Q1FY23 QoQ% Q2FY22 YoY% H1FY23 H1FY22 YoY% Q2FY20 Var% Total Income 2,505 2,599 -4% 1,374 82% 5,104 2,105 2.4X 2,405 4% Total Expenditure 1,628 1,511 8% 925 76% 3,139 1,690 86% 1,538 6% EBITDA from Continuing Operations 877 1,088 -1
Slide 12: Leverage Position
Leverage Position (In Rs. Mn) Net Debt Movement Interest Rate Movement 14 8.18% bps 8.04% CHL 190 Bps Policy Repo Rate* Mar-22 Sep-22 Capital expenditure in H1FY23 was Rs. 2,263 Mn. * RBI 11
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet (In Rs. Mn) Particulars Sep 22 Mar 22 Fixed Assets 19,436 19,758 Capital Work in-progress 10,315 8,191 Investment Property 5,616 5,692 Goodwill 226 226 Other Non-Current assets 3,671 3,549 Cash and Cash Equivalents 786 1,255 Other Current Assets 5,222 5,167 Total Assets 45
Slide 14: Project Update
02 - <D) Y © x2) or ~ Y O 2 O OW
Slide 15: Ongoing Projects – Rental & Annuity
Ongoing Projects – Rental & Annuity The Commercial Tower in Marriott Repurposing mall to commercial office Complex, Whitefield, Bengaluru is a space with leasable area ~0.3 msf. premium office space with leasable area ~0.66 msf. Expected completion in FY23 Received partial OC, handovers to tenants t
Slide 16: Ongoing Projects - Hospitality
Ongoing Projects - Hospitality Addition of 88 rooms at Novotel Nagar Westin 2 Hyderabad Mindspace with 168 5-star Hotel at Terminal 3, Delhi Airport Road Pune rooms ~375-400 rooms Expected completion by Q3FY23 Expected completion by Q4FY23 Expected completion in FY26 ~150 rooms in Westin Mumbai Powa
Slide 17: Real-estate Development in Bengaluru
Real-estate Development in Bengaluru ❖ 9 residential towers of 10 floors each ❖ 2 residential towers of 11 floors each ❖ New Commercial block for strata sale ❖ ~Rs. 4,250 mn estimated cost to completion ❖ Project expected to be completed by FY26 Approval in place from existing customers for revised
Slide 18: About Chalet
03 |: About Chalet
Slide 19: Sustainable Tomorrow
Sustainable Tomorrow USGB Gold LEED Certification Energy Initiatives – JW Marriot Mumbai Sahar ✓ ~80%*of power sourced through renewable – Marriott Whitefield Bengaluru resources (YTD FY23) – Office Tower Sahar, Mumbai ✓ All new properties to be LEED certified – Office Tower Whitefield, Bengaluru ✓
Slide 20: Chalet Signs Climate Group Initiatives
Chalet Signs Climate Group Initiatives First hospitality company globally to sign up for all the three initiatives of The Climate Group ✓ 100% of the vehicle fleet ✓ Chalet Hotels commits to ✓ All properties in the used for guest transport, will double its revenue per unit Company’s portfolio to tra
Slide 21: Chalet - A Great Place To Work
Chalet - A Great Place To Work ® Chalet has been recognized Chalet has been recognized amongst ‘Top 10 | Mid – size Chalet Hotels Ranked 59# in amongst ‘Top 10 | Mid – size India’s Best Workplaces – 2022’ 2022 Best Workplaces in India’s Best Workplaces for by Great Place to Work © Asia by Great Plac
Slide 22: Our Portfolio
Our Portfolio Novotel Pune Nagar Road Hotel JW Marriott Mumbai Sahar Bengaluru Marriott Hotel Whitefield The Westin Hyderabad Mindspace (427 (223 Keys) (588 Keys) (391 Keys) Keys) Strategically Chosen Brands at Key Locations Lakeside Chalet, Mumbai-Marriott Executive The Orb – Office Tower Four Poin
Slide 23: Disclaimer
Disclaimer 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 24: Thank You!
Investor Relations Contact Ruchi Rudra / Meghna Luthra E-mail: ruchi.rudra@chalethotels.com meghna.luthra@chalethotels.com investorrelations@chalethotels.com Thank You! Chalet Hotels Limited Raheja Towers, 4th Floor, Block G, BKC, Mumbai 400 051