Indian Hotels Co. Ltd. · NSE:INDHOTEL
Indian Hotels — The Indian Hotels Company Limited (IHCL) — Q2 FY2023/24 Earnings Presentation
85 slides from Indian Hotels's earnings presentation, Oct 27, 2023
Slide 1: Delivering Responsible Profitable Growth
Delivering Responsible Profitable Growth GLOBAL CONFERENCE CALL Q2 2023/24 27th October, 2023 1
Slide 2: Awards & Recognition for Our ESG Efforts
AWARDS & RECOGNITION FOR OUR ESG EFFORTS Responsible Tourism Awards 2023 for for for Risk Management Tackling Plastic Waste Diversity, Equity & Inclusion 2
Slide 3: Agenda
AGENDA • Indian Hospitality on an Upcycle • IHCL: Delivers Record Performance • Asset Management – Driving Operating Leverage • Sustained Growth Momentum • Diversification of Topline • Investing in the Future 3
Slide 4: Indian Growth Story Intact: IMF Raises Growth Forecast
INDIAN GROWTH STORY INTACT IMF RAISES GROWTH FORECAST WORLD USA EU CHINA INDIA 5.9% 6.3% 5.2% 5.0% 3.0% 2.8% 2.1% 1.6% 0.8% 0.7% Industry IHCL Industry IHCL Industry IHCL Industry IHCL Industry IHCL GDP Growth Estimate – IMF Outlook for 2023 Apr’ 23 estimate Oct’ 23 estimate Source: IMF World Econom
Slide 5: Indian Hospitality Significantly Underpenetrated
INDIAN HOSPITALITY SIGNIFICANTLY UNDERPENETRATED GLOBAL USA CHINA INDIA Branded Room Supply 18 5.6 4.5 0.2 (mn.) India has much lower Room Population Penetration (mn.) 8,045 340 1,425 1,429 vs. Global Penetration standard (Branded Rooms/1000 2.2 16.3 3.2 0.1 people) Source: US Consensus Bureau, Anal
Slide 6: Supply Growth Constrained, Upcycle to Continue
SUPPLY GROWTH CONSTRAINED UPCYCLE TO CONTINUE Hotel Supply To BRANDED SUPPLY (NO. OF ROOMS) Grow at CAGR of 5-6% CAGR 220,000 In the next 5 years 5.9% CAGR 165,000 5.5% Expected Rooms CAGR 101,000 Demand CAGR of 14.5% 8-10% 39,000 In the next 5 years FY 2007 FY 2014 FY 2023 FY 2028 Source: Hotelivat
Slide 7: Supply Growth Primarily in Non-Luxury, Tier 2/3 Markets
SUPPLY GROWTH PRIMARILY IN NON-LUXURY, TIER 2/3 MARKETS Luxury Luxury Budget/Economy Tier 1 15% 7% segment 27% 7% Tier 3 44% Upscale Break-up of Midmarket By 27% By City Branded supply Positioning under active 26% Tiers development Tier 2 Upper Midmarket 29% 26% 165,000 55,000 220,000 Supply in 22/2
Slide 8: Demand Growth Strong: Indians Travelling & Spending More
DEMAND GROWTH STRONG INDIANS TRAVELLING & SPENDING MORE Source: Booking.com Report titled ‘How India Travels 2023’ 8
Slide 9: Demand Bolstered by Short-Term Domestic Triggers
DEMAND BOLSTERED BY SHORT-TERM DOMESTIC TRIGGERS WEDDINGS & EVENTS 9
Slide 10: Agenda
AGENDA • Indian Hospitality on an Upcycle • IHCL: Delivers Record Performance • Asset Management – Driving Operating Leverage • Sustained Growth Momentum • Diversification of Topline • Investing in the Future 10
Slide 11: 6th Consecutive Quarter of Consolidated Record Performance
6th CONSECUTIVE QUARTER OF CONSOLIDATED RECORD PERFORMANCE ₹ 1,481 Crore ₹ 402 Crore 27.2% ₹ 167 Crore Consol. Revenue Consol. EBITDA EBITDA margin Consol. PAT Increase Over ↑ 18% ↑ 26% ↑ 1.8 pp ↑ 37% Consol. Revenue Consol. EBITDA EBITDA Margin Consol. PAT Q2 FY23 11
Slide 12: 6th Consecutive Quarter of Standalone Record Performance
6th CONSECUTIVE QUARTER OF STANDALONE RECORD PERFORMANCE ₹ 949 Crore ₹ 330 Crore 34.7% ₹ 157 Crore Revenue EBITDA EBITDA margin PAT Increase Over ↑ 23% ↑ 39% ↑ 4.1 pp ↑ 39% Revenue EBITDA EBITDA Margin PAT Q2 FY23 12
Slide 13: Best-Ever Q2 Performance
BEST-EVER Q2 PERFORMANCE (₹ CR) Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 Q2 23-24 22-23 21-22 20-21 19-20 18-19 17-18 16-17 15-16 14-15 13-14 12-13 11-12 Revenue 1,481 1,258 752 324 1,029 981 864 898 928 958 924 835 771 EBITDA 402 319 97 (83) 182 116 67 82 91 36 67 60 92 EBITDA (%) 27.2% 25.4% 12.9% (25.
Slide 14: Q2 Performance Across Brands
Q2 PERFORMANCE ACROSS BRANDS YoY increase in all key statistics ARR OCCUPANCY REVPAR YoY Var % YoY Var PPts. YoY Var % ↑ 8% ↑ 4% ↑ 15 % ↑ 11 % ↑ 3% ↑ 16 % ↑ 1% ↑ 7% ↑ 14 % * Like for Like Data for IHCL Enterprise hotels 14
Slide 15: Commanding Industry Premium: Like for Like Comparison
COMMANDING INDUSTRY PREMIUM LIKE FOR LIKE COMPARISON AVERAGE RATES (ARR) OCCUPANCY RevPAR 9,300 70% 6,500 60% 6,700 Industry-Leading 4,000 Metrics (Q2 FY2023/24) ₹/night Industry IHCL Industry IHCL ₹/night Industry IHCL Source: STR Industry IHCL Domestic (Same Store) Note: ARR, RevPAR rounded off to
Slide 16: Declining Dependency Across Key Cities, Presence in 125+ Locations
DECLINING DEPENDENCY ACROSS KEY CITIES WITH PRESENCE IN 125+ LOCATIONS 5 5 J&K Himachal Pradesh 1 2 9 Meghalaya Chandigarh Uttarakhand 5 5 1 19 3 Assam Punjab 9 Uttar Pradesh Sikkim 1 5 1 3 Arunachal Pradesh Haryana 7 5 1 IHCL retains its leading position New Delhi 3 1 Tripura with presence across 2
Slide 17: Declining Dependency Across Events
….which also helps declining dependency across events YTD September 2023 Incremental expected on PY across match dates 95 Crores 30 Crores 1% of FY23 Enterprise revenue 0.5% of FY23 Enterprise revenue 17
Slide 18: Tata Neu Aiding IHCL's Revenue Growth
TATA NEU AIDING IHCL’s REVENUE GROWTH Loyalty contribution to enterprise revenue 24% Total loyalty led revenue 1,132 Crore* + 14% Growth by FY23 Total Members 754 150 82 146 Copper Silver Gold Platinum 4.9 Mn. IHCL Channels Revenue 1,076 Cr + Tata Neu App Led Revenue 56 Cr Transactions + 11% Growth
Slide 19: Agenda
AGENDA • Indian Hospitality on an Upcycle • IHCL: Delivers Record Performance • Asset Management – Driving Operating Leverage • Sustained Growth Momentum • Diversification of Topline • Investing in the Future 19
Slide 20: Asset Management Initiatives Bringing Operating Leverage
₹ /crores ASSET MANAGEMENT INITIATIVES BRINGING OPERATING LEVERAGE 75%+ increase from existing inventory Consol Revenue Consol EBITDA ↑ 18% ↑ 16% ↑ 21% ↑ 26% Growth YoY Others include fees from New Hotels opened after April 2022 , Qmin, Ama & Ginger, Chambers & other Non Operating Income 20
Slide 21: Power of Operating Leverage: Big Machines Performance
POWER OF OPERATING LEVERAGE BIG MACHINES PERFORMANCE Revenue Revenue Revenue 138 (+19%) 97 (+35%) 93 (+11%) EBITDA EBITDA EBITDA 50 (+28%) 27 (+74%) 33 (+22%) Revenue Revenue 143 (+23%) 68 (+100%) EBITDA EBITDA 47 (+35%) 21 (+435%) All figures for Q2 FY24 and in ₹ crore * Taj Mahal New Delhi was und
Slide 22: Agenda
AGENDA • Indian Hospitality on an Upcycle • IHCL: Delivers Record Performance • Asset Management – Driving Operating Leverage • Sustained Growth Momentum • Diversification of Topline • Investing in the Future 22
Slide 23: Growth Momentum Continues
GROWTH MOMENTUM CONTINUES FY24 - YTD Q2 FY24 18 9 6 3 Signings Openings Signings Openings 7 3 Targeting 3 2 5 3 20 Openings 2 1 3 1 in FY24 3 2 1 23
Slide 24: Taj, The Trees, Vikhroli
TAJ, THE TREES, VIKHROLI
Slide 25: Taj Guras Kutir, Gangtok
TAJ GURAS KUTIR, GANGTOK
Slide 26: WOW Crest, Indore – IHCL SeleQtions
WOW CREST, INDORE – IHCL SELEQTIONS
Slide 27: Creating New Itineraries Beyond Delhi Jaipur Agra
CREATING NEW ITINERARIES BEYOND DELHI JAIPUR AGRA Pilibhit House, Haridwar Taj Rishikesh Resort & Spa North-East – Follow the Sun: Darjeeling-Sikkim-Gangtok Taj Chia Kutir Resort & Spa, Darjeeling Ganga Trails Varanasi Rishikesh Vivanta Sikkim Haridwar Pakyong Taj Guras Kutir Resort & Spa, Gangtok A
Slide 28: Creating New Itineraries Continues
CREATING NEW ITINERARIES CONTINUES.. Taj Bekal Resort & Spa, Kerala Taj Wayanad Resort & Spa, Kerala Creating Many Others Journey of Jungle & Heritage Ranthambore | Agra | Jaipur | Gwalior | New Delhi Southern Splendor Aravalli Trails Ajmer | Jaipur Bekal Wayanad Coorg Munnar Wildlife Trail Pench |
Slide 29: Creating New Itineraries: Expansion into Religious Circuits
CREATING NEW ITINERARIES OUR EXPANSION INTO RELIGIOUS CIRCUITS VIVANTA KATRA VAISHNO DEVI TAJ TIRUPATI A tranquil oasis that seeks to provide luxury to pilgrims and leisure travellers alike Proximity to the Tirumala hills. Luxury meets spirituality GINGER DWARKA PRATAP MAHAL, AJMER IHCL SELEQTIONS c
Slide 30: Dominating Luxury Segment Presence
DOMINATING LUXURY SEGMENT PRESENCE Owns more than half of Domestic operational and Pipeline Inventory 65% Operational 51% Pipeline Taj Taj Share of Share of 19% operational pipeline of Luxury Luxury 11% inventory Inventory In India in India Share of IHCL luxury portfolio in IHCL share of Total Brand
Slide 31: Increased Management Fee Income
INCREASED MANAGEMENT FEE INCOME 185 157 H1 92 87 76 Q2 45 ₹/ Crores FY20 FY23 FY24 Increase in hotels under management , to fuel High Flow Through 17% increase Management Fee Growth H1 YoY vs 22/23 31
Slide 32: Agenda
AGENDA • Indian Hospitality on an Upcycle • IHCL: Delivers Record Performance • Asset Management – Driving Operating Leverage • Sustained Growth Momentum • Diversification of Topline • Investing in the Future 32
Slide 33: New Businesses
NEW BUSINESSES ₹ 240 Crore GMV in H1 FY24 33
Slide 34: Ginger Record Performance Continues
GINGER RECORD PERFORMANCE CONTINUES ₹ 104 Cr 37% 70% ₹ 57 Cr Revenues Lean Luxe Growth of Sustained Loyalty Led Portfolio by 24% YoY EBITDAR margin Revenue (H1) March 2024 All figures for Q2 FY24 and at Enterprise level EBITDAR – Earnings before Interest, Tax, Depreciation , Amortization & Rentals 3
Slide 35: Coming Soon – Ginger Mumbai Airport
COMING SOON – GINGER MUMBAI AIRPORT
Slide 36: Qmin, amã Gaining Traction
QMIN, amã GAINING TRACTION ₹ 22 Cr 125+ villas Revenue 75 Operational (Q2FY24) ₹ 100 Cr 89 Target GMV NPS Score (for FY24) 36
Slide 37: TajSATS Record Performance
TajSATS RECORD PERFORMANCE ₹ 213 Cr 24.4% 60% 15 Revenues EBITDA Margin Growth of 9 pp G20 VVIP Flights Market Share 48% YoY Margin Expansion Catered All figures for Q2 FY24 37
Slide 38: Agenda
AGENDA • Indian Hospitality on an Upcycle • IHCL: Delivers Record Performance • Asset Management – Driving Operating Leverage • Sustained Growth Momentum • Diversification of Topline • Investing in the Future 38
Slide 39: Well Positioned to Invest in Building Capabilities
WELL POSITIONED TO INVEST IN BUILDING CAPABILITIES HEALTHY FREE CASH FLOWS AND CASH BALANCE POSITION ₹ /crores Operating Cash Flow ₹ 570 crores Free Cash Flow ₹ 266 crores 39
Slide 40: Investing in Our Assets, Driving Brand Innovations
INVESTING IN OUR ASSETS DRIVING BRAND INNOVATIONS Renovations, Brand Building, Asset Management New Concepts 40
Slide 41: The Chambers
THE CHAMBERS 2,800+ 125+ ₹ 54 crs 80% Total Chambers Members Added (Net) 7% Revenue growth Flow through Members in H1 2023/24 from H1 22/23 41
Slide 42: The Chambers – Taj Lands End
THE CHAMBERS – TAJ LANDS END
Slide 43: The Chambers – Taj West End
THE CHAMBERS – TAJ WEST END
Slide 44: Captain's Cellar – Taj Mahal, Delhi
CAPTAIN’S CELLAR – TAJ MAHAL, DELHI
Slide 45: Loya – Taj West End, Bengaluru
LOYA – TAJ WEST END, BENGALURU
Slide 46: House of Ming – St. James Court, London
HOUSE OF MING – ST. JAMES COURT, LONDON
Slide 47: J Wellness Circle – Taj Lands End, Mumbai
J WELLNESS CIRCLE – TAJ LANDS END, MUMBAI
Slide 48: Doing Business the Responsible Way
DOING BUSINESS THE RESPONSIBLE WAY Waste YTD FY 23/24 UPDATE 100% elimination of single-use plastic 315 Tons of Plastic Saved through Glass Bottles, Bio-degradable Bathroom Amenities, Paper Straws Waste 100% operating hotels will have an organic waste management system 27 hotels have bottling plants
Slide 49: On Track to Achieve Our Targets of Ahvaan 2025
ON TRACK TO ACHIEVE OUR TARGETS OF AHVAAN 2025 49
Slide 50: Simplification: Buyout of Minority Shareholding in Piem Hotels
SIMPLIFICATION: BUYOUT OF MINORITY SHAREHOLDING IN PIEM HOTELS ▪ The Board has approved, subject to Shareholders & other regulatory approval, buyout of shareholding in Piem Hotels (a 51.57% subsidiary), as follows: ▪ From New Vernon Private Equity Ltd, Mauritius: ▪ 2,59,000 equity shares of Piem Hot
Slide 51: Financial Performance Q2 2023/24
FINANCIAL PERFORMANCE Q2 2023/24 51
Slide 52: IHCL Consolidated P&L Statement
IHCL CONSOLIDATED P & L STATEMENT Q2 2023-24 746 PBT PAT +20% Revenue from Operations EBITDA 232 167 16% Margin 11% Margin Room 1,433 402 Revenue +16% 27.2% Margin Total Revenue +1.8 pp Tax 1,481 +18% 72 486 Other +10% Others * F&B Expenses Revenue 7 87 170 Management +14% Fee Depreciation 115 111 +
Slide 53: IHCL Standalone P&L Statement
IHCL STANDALONE P & L STATEMENT Q2 2023-24 400 PBT PAT +26% Revenue from Operations EBITDA 212 157 22% Margin 17% Margin Room 893 330 Revenue +19% 34.7% Margin Total Revenue +4.1 pp Tax 949 +23% 55 315 Other F&B +11% Expenses Revenue 85 117 Management +15% Fee Depreciation 93 55 +24% Operating Other
Slide 54: RevPAR Growth Higher Than Historical Averages
REVPAR GROWTH HIGHER THAN HISTORICAL AVERAGES HISTORICAL Full year RevPAR QUARTERLY RevPAR FY24 vs FY23 9,300 7,750 7400 7100 8,800 6,100 11% 15% 5,800 6% 7,750 ₹ / Night 8% 6,700 5,600 5,350 6,100 -8% 7% FY17 FY18 FY19 FY20 FY23 Q1 Q2 Q3 Q4 FY 22/23 23/24 • RevPAR IHCL Enterprise Domestic (excl gin
Slide 55: Domestic & International – Q2 23/24
DOMESTIC & INTERNATIONAL – Q2 23/24 vs Q2 2022/23 ₹ /crores DOMESTIC INTERNATIONAL CY PY CY PY Revenue 1,171 973 310 285 Var vs PY Var vs PY ↑ +20% ↑ +9% CY PY CY PY EBITDA 376 283 26 36 Var vs PY Var vs PY ↑ +33% ↓-ve CY PY CY PY EBITDA Margin 32.1% 29.1% 8.4% 12.5% (%) Var vs PY Var vs PY ↑ +3.0 p
Slide 56: Robust RevPAR Growth Across Cities in Q2
ROBUST REVPAR GROWTH Across Cities in Q2 17% 21% 28% 16% 20% 19% 17% 19% 7% 14% India Mumbai Delhi & NCR Bengaluru Goa Chennai Rajasthan Hyderabad Kolkata Kerala Domestic Hotels – Like for Like (₹ ) Q2 2023/24 Q2 2022/23 56
Slide 57: RevPAR Growth in Key International Markets
REVPAR GROWTH IN KEY INTERNATIONAL MARKETS -3% 16% -15% 33% 2% USA UK Maldives Cape Town Dubai International Hotels RevPAR in $ Q2 2023-24 Q2 2022-23 57
Slide 58: Costs as a Percentage of Consolidated Revenues
COSTS AS A PERCENTAGE OF CONSOLIDATED REVENUES Raw Material Costs as % of F & B Revenue Payroll PayrollCosts Costs as % of as % ofRevenue Revenue 23.3% 23.1% 29.9% 29.7% • P & I Impact • Increase in Headcount related to increase in business volumes Q2 22/23 Q2 23/24 Q2 22/23 Q2 23/24 Other Costs as
Slide 59: Manpower / Room by Brand
MANPOWER / ROOM BY BRAND Operating Efficiencies Maintained - despite increase in Revenues by 45% from FY20 3.39 3.33 2.93 2.87 2.17 2.11 1.95 1.53 1.48 1.34 0.48 0.52 Taj Palaces SeleQtions Vivanta Safari Ginger Apr-20 Sep-23 # Ginger – Increase on account of F&B insourcing and Qminisation of Ginger
Slide 60: Key Highlights – Q2 2023/24
KEY HIGHLIGHTS – Q2 2023/24 ₹ /crores IHCL ENTERPRISE IHCL CONSOLIDATED IHCL STANDALONE 19% 19% 18% 26% 23% 39% 1,481 2,687 26% 26% 27% 25% 949 35% 31% 2,264 1,258 775 698 585 402 319 330 237 Revenue EBITDA Revenue EBITDA Revenue EBITDA Q2 23/24 Q2 22/23 Q2 23/24 Q2 22/23 Q2 23/24 Q2 22/23 YoY Chang
Slide 61: IHCL Subsidiaries
IHCL SUBSIDIARIES ₹ /crores PIEM HOTELS LTD ROOTS CORPORATION LTD BENARES HOTELS LTD 18% 16% 9% 46% 91% 12% 38% 38% 19% 18% 84 33% 35% 40% 31% 119 27 106 73 18 11 28 26 23 6 20 Revenue EBITDA Revenue EBITDA Revenue EBITDA Q2 23/24 Q2 22/23 Var % Q2 23/24 Q2 22/23 Var % Q2 23/24 Q2 22/23 Var % YoY Ch
Slide 62: IHCL Subsidiaries
IHCL SUBSIDIARIES ₹ /crores UOH Inc. USA St. James Court, London -4% -ve 22% 35% 142 148 -19% -2% 143 33% 30% 117 47 35 (3) (27) Revenue EBITDA Revenue EBITDA Q2 23/24 Q2 22/23 Var % Q2 23/24 Q2 22/23 Var % YoY Change – Revenue & EBITDA EBITDA Margin % 62
Slide 63: JV's & Associate Companies
JV’s & ASSOCIATE COMPANIES ₹ /crores TAJ SATS AIR CATERING LTD ORIENTAL HOTELS LTD 48% 128% 2% -14% 213 24% 16% 93 91 24% 28% 143 23 26 52 22 Revenue EBITDA Revenue EBITDA Q2 23/24 Q2 22/23 Var % Q2 23/24 Q2 22/23 Var % YoY Change – Revenue & EBITDA EBITDA Margin % 63
Slide 64: Q2 2023/24 – Performance of Key Legal Entities
Q2 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 142 (27) (49) (49) St. James Court - UK 143 47 28 17 PIEM Hotels Ltd. 119 23 12 8 Roots Corporation Ltd 84 28 8 6 Benares Hotels Ltd. 27 11 9 7 Taj SATS Air Cat. Ltd. 213 52 46 35 Oriental Hot
Slide 65: Brandwise & Categorywise Revenue Statistics Q2 2023/24
BRANDWISE & CATEGORYWISE REVENUE STATISTICS Q2 2023/24 Occ % ARR in ₹ RevPAR in ₹ DOMESTIC HOTELS LFL 23/24 Var pp 23/24 Var % 23/24 Var % Taj 71% 4% 12,454 12% 8,900 18% Business 80% 4% 10,789 16% 8660 23% Leisure 59% 2% 14504 5% 8604 10% Palaces 47% 4% 27180 9% 12818 18% Vivanta 72% 3% 6,880 10% 4
Slide 66: Q2 2023/24 – Revenue Metrics (Domestic)
Q2 2023/24 - Revenue Metrics (Domestic) Standalone Enterprise (Domestic) Particulars Q2 FY24 Q2 FY23 Var Q2 FY24 Q2 FY23 Var Occupancy % 75.9 69.8 +6.1 65.7 63.3 +2.4 ARR in ₹ 12,972 11,003 +18% 8,826 7,929 +11% RevPAR in ₹ 9,840 7,681 +28% 5,795 5,016 +16% (₹/ crores) Room Revenue 400 318 +26% 1,01
Slide 67: Annexures
ANNEXURES or TA} SeLeQmions VIVANTA GINGER ama Qmin TAG INCL
Slide 68: Market Segment – Room Revenue
MARKET SEGMENT – ROOM REVENUE (ALL HOTELS EXCL GINGER) ↑20% Q2 2023 -24 vs 2022-23 800 Q2 - 23/24 700 Q2 22/23 600 500 400 ↑19% ↑29% ↑10% ↑17% ↑31% ↑50% 300 200 100 - Transient Corporate MICE Long Stay Leisure Groups Crew % of Revenue 15% 4% 7% 1% 2% 59% 12% Q2 -2023/24 % of Revenue 4% 1% 2% 59% 12%
Slide 69: Channels – Room Revenue
CHANNELS – ROOM REVENUE (ALL HOTELS EXCL GINGER) Q2 23/24 VS 22/23 ₹/crores Q2 - 23/24 Q2 22/23 HRO TRW GDS ADS Taj Website % of Revenue Q2-23/24 46% 7% 6% 27% 14% % of Revenue Q2 -22/23 48% 6% 5% 26% 15% 69
Slide 70: India (LFL) – City Wise Revenue Statistics
India (LFL) – CITY WISE REVENUE STATISTICS Q2 2023-24 vs 2022-23 Occ % ARR in ₹ RevPAR in ₹ Domestic Hotels - Q2 LFL ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % Mumbai 85% 81% 4% 11,865 10,282 15% 10,101 8,358 21% Delhi & NCR 79% 79% - 9,349 7,278 28% 7,352 5,765 28% Bengaluru 79%
Slide 71: International – City Wise Revenue Statistics
International – CITY WISE REVENUE STATISTICS Q2 2023-24 vs 2022-23 Occ % ARR in $ RevPAR in $ International Hotels $ - Q2 ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % ACT 23/24 PY 22/23 % USA 57% 59% -2% 649 641 1% 370 380 -3% UK 76% 76% 0% 484 416 16% 369 317 16% Maldives 49% 54% -5% 489 526 -7% 241 2
Slide 72: IHCL Consolidated Balance Sheet as at Sept 30, 2023
IHCL CONSOLIDATED BALANCE SHEET AS AT SEPT 30, 2023 PARTICULARS SEPT 30, MARCH 31, (₹ CR) 2023 2023 Non Current Assets Fixed Assets 6,756 6,618 Right to use Assets 1,943 1,879 Goodwill 657 654 Investments 1,246 1,134 Other Non Current Assets 698 794 Current Assets 2,261 2,590 Total Assets 13,561 13,
Slide 73: Q2, H1 2023/24 Consolidated P&L
Q2, H1 2023/24 CONSOLIDATED P&L Q2 H1 PARTICULARS Var % Var % (₹ CR) CY 23/24 PY 22/23 CY 23/24 PY 22/23 Vs 22/23 Vs 22/23 Revenue from Operations 1,433 1,233 16% 2,900 2,499 16% Non-Operating Revenue 48 25 91% 97 52 86% Total Revenue 1,481 1,258 18% 2,997 2,551 17% Raw Material Cost 112 103 9% 228
Slide 74: Q2, H1 2023/24 Standalone P&L
Q2, H1 2023/24 STANDALONE P&L Q2 H1 PARTICULARS (₹ CR) Var % Var % CY 23/24 PY 22/23 CY 23/24 PY 22/23 Vs 22/23 Vs 22/23 Revenue from Operations 893 750 19% 1,783 1,512 18% Non-Operating Revenue 56 24 + 100 51 + Total Revenue 949 775 23% 1,884 1,563 21% Raw Material Cost 71 66 8% 141 131 8% Employee
Slide 75: IHCL Hotel Brandscape – As of Sep 30, 2023
IHCL HOTEL BRANDSCAPE - AS OF SEP 30, 2023 Operational Hotels Pipeline Hotels Total Hotels Brands (Rooms) (Rooms) (Rooms) 82 21 102 Taj (12,042) (3,701) (15,722) 28 21 49 Vivanta (3,891) (2,856) (6,745) 23 13 34 SeleQtions (1,567) (1,358) (2,760) 59 27 85 Ginger (4,965) (3,147) (8,012) 192 82 274 TO
Slide 76: Inventory in Pipeline
INVENTORY IN PIPELINE Brands FY 24 H2 FY25 FY26 FY27 / FY28 Total No. of Hotels Taj 375 697 1,404 1,225 3,701 21 IHCL & Group 255 220 475 4 Management Contracts 375 442 1,404 1,005 3,226 17 SeleQtions 252 959 147 1,358 13 Management Contracts 450 741 128 1,358 13 Vivanta 174 848 964 870 2,856 21 IHC
Slide 77: Hotels Opened in Q2 FY24
HOTELS OPENED IN Q2 FY24 Hotel Name Brand Ownership Inventory Taj The Trees, Vikhroli Taj Management Contracts 151 Taj Resort, Guras Kutir, Gangtok Taj Management Contracts 69 IHCL SeleQtions, WOW Indore SeleQtions Management Contracts 125 77
Slide 78: Upcoming Hotels in FY 23-24 (Oct – Mar)
UPCOMING HOTELS IN FY 23-24 ( Oct – Mar) Hotel Name Location Ownership Inventory Taj Hotel at Ambuja City Centre Patna Patna Management Contracts 124 Taj Taal Kutir Convention Centre Kolkata Management Contracts 75 Taj Sawai Madhopur Sawai Madhopur Management Contracts 60 Gorbandh Palace, IHCL SeleQ
Slide 79: Consolidated Performance – H1 23/24
CONSOLIDATED PERFORMANCE – H1 23/24 ₹ /crores vs H1 2022/23 DOMESTIC INTERNATIONAL CY PY CY PY Revenue 2,334 1,964 663 587 Var vs PY Var vs PY ↑ +19% ↑ +13% CY PY CY PY EBITDA 772 629 90 95 Var vs PY Var vs PY ↑ +23% ↓-ve CY PY CY PY EBITDA Margin 33.1% 32.0% 13.6% 16.2% (%) Var vs PY Var vs PY ↑ +1
Slide 80: Robust RevPAR Growth – Across Cities H1
ROBUST REVPAR GROWTH – Across Cities H1 15% 20% 23% 15% 16% 19% 13% 21% 7% 14% India Mumbai Delhi & NCR Bengaluru Goa Chennai Rajasthan Hyderabad Kolkata Kerala Domestic Hotels – Like for Like (₹ ) H1 2023/24 H2 2022/23 80
Slide 81: RevPAR Growth in Key International Markets
REVPAR GROWTH IN KEY INTERNATIONAL MARKETS 0% 19% -19% 33% 17% USA UK Maldives Cape Town Dubai International Hotels RevPAR in $ H1 2023-24 H2 2022-23 81
Slide 82: H1 2023/24 – Performance of Key Legal Entities
H1 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 326 (22) (65) (66) St. James Court - UK 285 96 57 40 PIEM Hotels Ltd. 241 48 25 18 Roots Corporation Ltd 163 55 16 12 Benares Hotels Ltd. 53 21 18 13 Taj SATS Air Cat. Ltd. 417 102 91 69 Orien
Slide 83: H1 2023/24 – Revenue Metrics (Domestic)
H1 2023/24 - Revenue Metrics (Domestic) Standalone Enterprise (Domestic) Particulars Q2 FY24 Q2 FY23 Var Q2 FY24 Q2 FY23 Var Occupancy % 75.3 70.1 +5.2 66.4 64.2 +2.1 ARR in ₹ 12,796 11,201 +14% 8,976 8,115 +11% RevPAR in ₹ 9,636 7,851 +23% 5,958 5,213 +14% (₹/ crores) Room Revenue 777 643 +21% 2,04
Slide 84: Disclaimer
DISCLAIMER These presentations may contain forward-looking statements within the meaning of applicable securities laws. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Forward-looking statements are not g
Slide 85: Delivering Responsible Profitable Growth
Delivering Responsible Profitable Growth GLOBAL CONFERENCE CALL Q2 2023/24 27th October, 2023 85
The Indian Hotels Company Limited (IHCL) — Q2 FY2023/24 Earnings Presentation on 6ix