Lemon Tree Hotels Ltd. · NSE:LEMONTREE
Lemon Tree Hotels — Q3 FY25 Earnings Presentation
40 slides from Lemon Tree Hotels's earnings presentation, Feb 4, 2025
Slide 1: Exchange filing cover letter for investor presentation
February 4, 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 Q3 & 9M FY25 Un-aud
Slide 2: Lemon Tree Hotels Limited Q3 FY25 Earnings Presentation
4-February-2025 Q3 FY25 Earnings Presentation 1 Lemon Tree Hotels Limited Q3 FY25 Earnings Presentation | 4th February 2025 Aurika, Mumbai SkyCity
Slide 3: Disclaimer
4-February-2025 Q3 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
Slide 4: Chairman & Managing Director's Message
Q3 FY25 Earnings Presentation 4-February-2025 3 Chairman & Managing Director’s Message Commenting on the performance for Q3 FY25, Mr. Patanjali Keswani, Chairman & Managing Director – Lemon Tree Hotels Limited said, “Lemon Tree recorded its highest-ever third-quarter revenue this year. At Rs. 355.8
Slide 5: We Are Everywhere
4-February-2025 Q3 FY25 Earnings Presentation 4 WE ARE EVERYWHERE
Slide 6: Q3 FY25 performance across key financial metrics
4-February-2025 Q3 FY25 Earnings Presentation 5 Q3 FY25 performance across key financial metrics Q3 FY25 performance snapshot vs Q3 FY24 (YoY change) Total Revenue EBITDA EBITDA % Rs. 355.8 Cr Rs. 184.8 Cr 51.9% Up 22% Up 30% Up 316 bps PAT Cash Profit# Cost of Debt % Rs. 79.9 Cr Rs. 114.9 Cr 8.64%*
Slide 7: Q3 FY25 Performance Highlights – Operational Metrics (Consolidated)
4-February-2025 Q3 FY25 Earnings Presentation 6 Q3 FY25 Performance Highlights – Operational Metrics (Consolidated) Inventory Average Room Rate (Rs.) Owned/Leased rooms Managed/Franchised Total rooms 15% rooms 7% QoQ YoY 7% 10,317 YoY 9,687 6,763 6,763 6,302 16% 5,902 YoY 5,759 5,759 4,558 3,928 Q3
Slide 8: Q3 FY25 Performance Highlights – Financial Metrics (Consolidated)
4-February-2025 Q3 FY25 Earnings Presentation 7 Q3 FY25 Performance Highlights – Financial Metrics (Consolidated) Revenue from Operations (Rs. Cr) Net EBITDA (Rs. Cr) 30% 41% 22% 25% YoY 184.8 YoY 184.8 QoQ QoQ 355.2 355.2 141.9 290.2 284.4 131.2 Q3 FY25 Q3 FY24 Q3 FY25 Q2 FY25 Q3 FY25 Q3 FY24 Q3 FY
Slide 9: Q-o-Q performance of FY25, FY24 and FY23
4-February-2025 Q3 FY25 Earnings Presentation 8 Q-o-Q performance of FY25, FY24 and FY23 Best ever Q3 – highest Q3 revenue, EBITDA, PBT, PAT and Cash Profit Particulars 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.) 6,763 5,902 5,686 6,605 6,3
Slide 10: Total Management Fees | Q3 FY25 vs Q3 FY24
4-February-2025 Q3 FY25 Earnings Presentation 9 Total Management Fees | Q3 FY25 vs Q3 FY24 43.7 32.3 25.3 18.4 + 17.4 = 14.9 Management / Franchise fees from 3rd Management Fees from Fleur Hotels Total Management Fees party hotels Q3 FY25 Q3 FY24 Fees to Lemon Tree Hotels (Rs. Cr) Q3 FY25 Q3 FY24 %
Slide 11: Total Management Fees | 9M FY25 vs 9M FY24
4-February-2025 Q3 FY25 Earnings Presentation 10 Total Management Fees | 9M FY25 vs 9M FY24 104.5 80.2 60.3 44.3 + 44.5 = 35.7 Management / Franchise fees from 3rd Management Fees from Fleur Hotels Total Management Fees party hotels 9M FY25 9M FY24 Fees to Lemon Tree Hotels (Rs. Cr) 9M FY25 9M FY24
Slide 12: Market Segments: Q3 FY25 vs Q3 FY24
4-February-2025 Q3 FY25 Earnings Presentation 11 Market Segments: Q3 FY25 vs Q3 FY24 (with Aurika, Mumbai SkyCity) Market Segments Room Nights Sold – Q3 FY25 vs Q3 FY24 37% 36% 33% 40 % 35 % 30% 30 % 25 % 14% 20 % 12% 8% 9% 8% 15 % 7% 3% 4% 10 % 5% 0% Corporate Airline Travel Trade OTA LT.com Other
Slide 13: Q3 FY25 Operational Performance by Brands & Region
4-February-2025 Q3 FY25 Earnings Presentation 12 Q3 FY25 Operational Performance by Brands & Region (including Aurika, Mumbai SkyCity) Hotel level Average Daily Rate Hotel level EBITDAR Parameters RevPAR (Rs.) Occupancy Rate (%) EBITDAR/room/qtr. (Rs.) Margin %** (Rs. Lacs)** Q3 Q3 Change Q3 Q3 Chan
Slide 14: Consolidated P&L: Q3 FY25 vs Q3 FY24
4-February-2025 Q3 FY25 Earnings Presentation 13 Consolidated P&L: Q3 FY25 vs Q3 FY24 355.8 Q3 FY25 Consolidated P&L Waterfall – Revenue to Cash Profit (Rs. Cr) (19.6) (56.4) (21.5) 184.8 (64.9) (8.5) 2.3 0.1 99.5 35.1 114.9 (52.6) 79.9 (35.1) (19.7) Total Rev. RMC Payroll HLP Other Reno- EBITDA Fin
Slide 15: Consolidated P&L: 9M FY25 vs 9M FY24
4-February-2025 Q3 FY25 Earnings Presentation 14 Consolidated P&L: 9M FY25 vs 9M FY24 909.0 9M FY25 Consolidated P&L Waterfall – Revenue to Cash Profit (Rs. Cr) (53.2) (161.4) (67.6) 431.5 (163.0) (32.3) 7.2 104.4 239.5 (160.6) 0.4 174.0 135.0 (104.4) (39.0) Total Rev. RMC Payroll HLP Other Reno- EB
Slide 16: Cost Structure: Q3 FY25 vs Q3 FY24
4-February-2025 Q3 FY25 Earnings Presentation 15 Cost Structure: Q3 FY25 vs Q3 FY24 * Expenses as a percentage of total revenue Down 316 bps 51.2% 48.1% Down 115 bps Down 99 bps 20.6% 21.8% 15.9% 16.8% Down 82 bps Down 20 bps 5.5% 5.7% 6.0% 6.9% Payroll expenses* F&B/Raw Material expenses* Power & F
Slide 17: Lemon Tree Consolidated Profit & Loss Statement – Q3 FY25
4-February-2025 Q3 FY25 Earnings Presentation 16 Lemon Tree Consolidated Profit & Loss Statement – Q3 FY25 Q3 FY25 vs Q3 FY25 vs Rs. Cr Q3 FY25 Q2 FY25 Q3 FY24 Q2 FY25 Q3 FY24 Change (%) Change (%) Revenue from operations 355.2 284.4 290.2 25% 22% Other income 0.6 0.5 0.7 31% -9% Total revenue 355.8
Slide 18: Lemon Tree Consolidated Profit & Loss Statement Breakup
4-February-2025 Q3 FY25 Earnings Presentation 17 Lemon Tree Consolidated Profit & Loss Statement Breakup Lemon Tree Consolidated Keys Hotels Lemon Tree Consolidated excluding Keys Hotels Rs. Cr Q3 Q2 Q3 QoQ YoY Q3 Q2 Q3 QoQ YoY Q3 Q2 Q3 QoQ YoY FY25 FY25 FY24 Change Change FY25 FY25 FY24 Change Chan
Slide 19: Discussion on Consolidated Financial & Operational Performance – Q3 FY25
4-February-2025 Q3 FY25 Earnings Presentation 18 Discussion on Consolidated Financial & Operational Performance – Q3 FY25 ❖ Revenue from operations stood at Rs. 335.2 Cr in Q3 FY25 which was up 24.9% from Rs. 284.4 Cr in Q2 FY25 and was up 22.4% as compared to Rs. 290.2 Cr in Q3 FY24 ❖ Gross ARR sto
Slide 20: Lemon Tree Consolidated Profit & Loss Statement – 9M FY25
4-February-2025 Q3 FY25 Earnings Presentation 19 Lemon Tree Consolidated Profit & Loss Statement – 9M FY25 9M FY25 vs Rs. Cr 9M FY25 9M FY24 9M FY24 Change Revenue from operations 907.6 743.8 22% Other income 1.5 1.8 -18% Total Income 909.0 745.6 22% Total expenses 477.6 392.0 22% Net EBITDA 431.5 3
Slide 21: Lemon Tree Hotel Network Revenue – Q3 FY25 vs Q3 FY24
4-February-2025 Q3 FY25 Earnings Presentation 20 Lemon Tree Hotel Network Revenue – Q3 FY25 vs Q3 FY24 50.4 549.5 61.7 437.5 Q3 FY24 Total Network Revenue Owned Hotels Managed and Franchised Hotels Q3 FY25 Total Network Revenue Hotel Network Revenue Q3 FY25 vs Q3 FY24 Change Q3 FY25 Q3 FY24 (Rs. Cr)
Slide 22: Lemon Tree Hotel Network Revenue – 9M FY25 vs 9M FY24
4-February-2025 Q3 FY25 Earnings Presentation 21 Lemon Tree Hotel Network Revenue – 9M FY25 vs 9M FY24 109.0 1,396.4 155.2 1,132.3 9M FY24 Total Network Revenue Owned Hotels Managed and Franchised Hotels 9M FY25 Total Network Revenue Hotel Network Revenue 9M FY25 vs 9M FY24 Change 9M FY25 9M FY24 (R
Slide 23: Expansion Plans – Hotels under Development
4-February-2025 Q3 FY25 Earnings Presentation 22 Expansion Plans – Hotels under Development Expected Under-development hotels Type Rooms Opening date Aurika, Shimla (redesigned from Lemon Tree Mountain Resort, Shimla) Owned 69 TBD Aurika, Shillong Owned 120 TBD For Aurika, Shimla total capital dep
Slide 24: Hotel opened in Q3 FY25 (managed & franchised contracts)
4-February-2025 Q3 FY25 Earnings Presentation 23 Hotel opened in Q3 FY25 (managed & franchised contracts) # Hotels Pipeline States / Country Rooms Type Opened in 1 Lemon Tree Resort, Thimphu Bhutan 38 Managed Dec’24
Slide 25: Hotels signed in Q3 FY25 (managed & franchised contracts)
4-February-2025 Q3 FY25 Earnings Presentation 24 Hotels signed in Q3 FY25 (managed & franchised contracts) # Hotels Pipeline States Rooms Type Expected Opening 1 Keys Select by Lemon Tree Hotel, Kufri Himachal Pradesh 49 Managed FY26 2 Keys Prima by Lemon Tree Hotel, Kempty Road, Mussoorie Uttrakhan
Slide 26: Expansion Plans – Pipeline of managed & franchised contracts (1 of 3)
4-February-2025 Q3 FY25 Earnings Presentation 25 Expansion Plans – Pipeline of managed & franchised contracts by opening (1 of 3) # Hotels Pipeline States Rooms Type Expected Opening 1 Keys Lite by Lemon Tree Hotels, Vadodara Gujarat 63 Managed FY25 2 Lemon Tree Hotel, Erode Tamil Nadu 64 Managed FY
Slide 27: Expansion Plans – Pipeline of managed & franchised contracts (2 of 3)
4-February-2025 Q3 FY25 Earnings Presentation 26 Expansion Plans – Pipeline of managed & franchised contracts by opening (2 of 3) # Hotels Pipeline States Rooms Type Expected Opening 31 Lemon Tree Hotel, Junagadh, Gujarat Gujarat 64 Managed FY26 32 Lemon Tree Hotel, Bhubaneswar Odisha 60 Managed FY2
Slide 28: Expansion Plans – Pipeline of managed & franchised contracts (3 of 3)
4-February-2025 Q3 FY25 Earnings Presentation 27 Expansion Plans – Pipeline of managed & franchised contracts by opening (3 of 3) # Hotels Pipeline States Rooms Type Expected Opening 61 Lemon Tree Hotel, Agartala Tripura 80 Managed FY28 62 Lemon Tree Hotel, Kundapura, Karnataka Karnataka 80 Managed
Slide 29: Expected opening of inventory in pipeline of managed & franchised contracts
4-February-2025 Q3 FY25 Earnings Presentation 28 Expected opening of inventory in pipeline of managed & franchised contracts (as of 31st December 2024) To be Total FY25 Brands FY26 FY27 FY28 FY29 FY30 announced Rooms (Q4) (TBA) (Hotels) Aurika Hotels & 257 242 499 - - - - - Resorts (2) (2) (4) Lemon
Slide 30: Lemon Tree – Snapshot as on 31st December 2024
4-February-2025 Q3 FY25 Earnings Presentation 29 Lemon Tree – Snapshot as on 31st December 2024 Operational Pipeline Operational + Pipeline Group 10,317 rooms; 6,068 rooms; 16,385 rooms; 112 hotels 88 hotels 200 hotels Brand Current Pipeline Operational + Pipeline Aurika Hotels & Resorts 863 Rooms;
Slide 31: Portfolio Breakup as on 31st December 2024 - Operational
4-February-2025 Q3 FY25 Earnings Presentation 30 Portfolio Breakup as on 31st December 2024 - 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 1 55 3 863 Lemon Tree Pr
Slide 32: Portfolio Breakup as on 31st December 2024 - Pipeline
4-February-2025 Q3 FY25 Earnings Presentation 31 Portfolio Breakup as on 31st December 2024 - 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
Slide 33: Annexure
4-February-2025 Q3 FY25 Earnings Presentation 32 Annexure
Slide 34: Aurika, Shimla | Representation
4-February-2025 Q3 FY25 Earnings Presentation 33 Aurika, Shimla (redesigned from Lemon Tree Mountain Resort, Shimla) | Representation
Slide 35: Aurika, Shimla | Current
4-February-2025 Q3 FY25 Earnings Presentation 34 Aurika, Shimla (redesigned from Lemon Tree Mountain Resort, Shimla) | Current
Slide 36: Aurika, Shimla | Current
4-February-2025 Q3 FY25 Earnings Presentation 35 Aurika, Shimla (redesigned from Lemon Tree Mountain Resort, Shimla) | Current
Slide 37: Aurika, Shimla | Current
4-February-2025 Q3 FY25 Earnings Presentation 36 Aurika, Shimla (redesigned from Lemon Tree Mountain Resort, Shimla) | Current
Slide 38: ESG | Highlights of FY24 initiatives
4-February-2025 Q3 FY25 Earnings Presentation 37 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 OD
Slide 39: Conference Call Details
4-February-2025 Q3 FY25 Earnings Presentation 38 Conference Call Details Timing 4:00 PM IST, Thursday, February 6, 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
Slide 40: About Lemon Tree Hotels
4-February-2025 Q3 FY25 Earnings Presentation 39 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 superi