Samhi Hotels Limited · NSE:SAMHI
Samhi Hotels — Q3 FY2024 Earnings Presentation
37 slides from Samhi Hotels's earnings presentation, Feb 2, 2024
Slide 1: Investor Presentation for Quarter 3 – FY 24 (exchange cover letter)
February 02, 2024 SAMHI Hotels Ltd. CIN: L55101DL2010PLC211816 BSE Limited National Stock Exchange of India Regd. Office: Caspia Hotels Delhi, District Centre Crossing, Corporate Relationship Department Limited Opp. Galaxy Toyota Outer Ring Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Road
Slide 2: SAMHI Hotels Ltd Investor Presentation – Q3FY24
SAMHI Hotels Ltd Investor Presentation – Q3FY24 Renaissance Ahmedabad Lobby
Slide 3: Q3 FY24 Highlights
Q3 FY24 Highlights RevPAR1 Total Income Strategic milestone of ₹1,000mn ₹4,248 ₹2,733mn Consolidated EBITDA (pre-ESOP) achieved + 20.3% YoY + 39.5% YoY 20.3% YoY growth in RevPAR Same store growth & positive impact of Consol. EBITDA (pre- ESOP) PBT (before exceptional itmes) ACIC acquisition led to
Slide 4: Rapid transformation
Rapid transformation Q1 FY24 Q2 FY24 Q3 FY24 500 250 Profitability >> - Pre-IPO Post IPO Q2-FY24 Q3-FY24 (250) EBITDA 739 1,019 ESOP / one time (198) (115) (500) Finance cost (1,146) (651) Depreciation (279) (312) (750) PBT (before exceptional items) (885) (60) Free Cash from Operations1 (113) +460
Slide 5: 31 Hotels, 4,801 rooms, 13 cities & 8 brands
: 31 Hotels, 4,801 rooms, 13 cities & 8 brands #Rooms / % Upscale & Upscale 1,074 Upper 22% Hyatt Regency on Nagar Road Sheraton, Hyderabad Renaissance, Ahmedabad Courtyard, Bangalore (ORR) Hyatt Place in Udyog Vihar, Gurugram Upper Mid-scale Fairfield, Four Points, Vizag Fairfield, Bangalore (City
Slide 6: Macro Dynamics
SAMHI Hotels Ltd. Macro Dynamics EQ IQ at Hyatt Regency Pune Fairfield Hyderabad All Day Dinning
Slide 7: Robust commercial activity across key markets
Robust commercial activity across key markets Office market size1 (mn sq. ft.) CY23 Net Absorption2 Inventory Occupancy Total of Current Upcoming Operating 9M FY24 ~40 mn sft Bangalore 195 37 12.0 864 69% Asset Income Contribution of Core Cities4 Mumbai 148 25 4.5 NA Q3 FY24 89% Delhi NCR 143 30 5.4
Slide 8: Travel is recovering fast
Travel is recovering fast • Total airline traffic during Q3 FY24 has recovered to same levels as ~270 million passengers in CY231 pre COVID (FY20); material headroom for growth • Core office markets driving airline passenger growth; Bangalore, More than 1,000 aircrafts have been Pune and Hyderabad m
Slide 9: Performance Summary
SAMHI Hotels Ltd. Performance Summary EQ IQ at Hyatt Regency Pune Fairfield Sriperumbadur All Day Dinning
Slide 10: RevPARs continue upward trend
RevPARs continue upward trend Segment wise RevPAR growth Revenue +20% (for Q3 FY24 YoY) Contribution of the Segment (Q3 FY24) YoY 4,248 Upper Upscale 28% 43% 4,132 & Upscale +16% YoY +15% Upper Mid-scale 12% 42% YoY 3,782 3,662 15% 3,530 Mid-scale 16% 3,250 3,196 RevPARs are expected to maintain upw
Slide 11: Q3FY24 - Total Income and Consol. EBITDA bridge
Q3FY24 - Total Income and Consol. EBITDA bridge Total Income (₹ mn) Consol. EBITDA (pre-ESOP) (₹ mn) +40.5% +39.5% +49.9% YoY YoY YoY +51.4% YoY +17.6% +27.8% YoY YoY Note: Includes impact of ACIC acquisition wef. August 11, 2023 10
Slide 12: Q3FY24 financial snapshot
Q3FY24 financial snapshot Total Income Consol. EBITDA (pre-ESOP) Robust performance in our first quarter post IPO +39.5% +51.4% 2,733 YoY YoY Growth led by strong performance of 1,019 existing hotels and integration of ACIC portfolio 2,232 1,959 Achieved strategic milestone of ₹1bn of 1,924 739 Cons
Slide 13: Operational efficiency
Q3FY24 Operational efficiency 15.7% Asset EBITDA Margin % (9MFY24) 9.1% Same Store Revenue 4,827; EBITDA 1,963 41% 20.9% 40% Asset EBITDA ACIC 32% 6.2% Margin 37% Consol. EBITDA Revenue 2,724; EBITDA 865 4.9% 1.3% Margin 1.7% Rebranding (including 1 31% ACIC asset) Potential of 800-1,000 bps improve
Slide 14: Insights
SAMHIIntel is our inhouse and proprietary asset management tool. It uses high frequency data to identify trends which have a potential impact on performance. Insights The tool also allows us to integrate new acquisitions and asset manage our hotels independent of the operator/brand. Occ% in Day of t
Slide 15: Segment Performance
SAMHI Hotels Ltd. Segment Performance Hyatt Place Gurgaon Hyatt Place Gurgaon All Day Dinning
Slide 16: Presence across demand segments
Presence across demand segments Upper Upscale & Upscale Upper Midscale Midscale Sheraton Hyderabad Guest Room Fairfield Bangalore City Centre Guest Room Holiday Inn Express Gurgaon Guest Room Our strategy is to be in strong markets with large, fast growing office & airline demand, and then use our m
Slide 17: Upper Upscale & Upscale assets
Stable: Y-o-Y change of +/-200bps; Upper Upscale & Upscale assets Upward: Y-o-Y increase of between 200 – 700bps; Strong Upwards: Y-o-Y increase of more than 700bps; Downward: Y-o-Y decrease of between 200 – 700bps; and Strong Downwards: Y-o-Y decrease of more than 700bps. Q3FY24 (Y-o-Y) 9MFY24 (Y-o
Slide 18: Upper Mid-scale assets
Stable: Y-o-Y change of +/-200bps; Upper Mid-scale assets Upward: Y-o-Y increase of between 200 – 700bps; Strong Upwards: Y-o-Y increase of more than 700bps; Downward: Y-o-Y decrease of between 200 – 700bps; and Strong Downwards: Y-o-Y decrease of more than 700bps. Q3FY24 (Y-o-Y) 9MFY24 (Y-o-Y) FY23
Slide 19: Mid-scale assets
Stable: Y-o-Y change of +/-200bps; Mid-scale assets Upward: Y-o-Y increase of between 200 – 700bps; Strong Upwards: Y-o-Y increase of more than 700bps; Downward: Y-o-Y decrease of between 200 – 700bps; and Strong Downwards: Y-o-Y decrease of more than 700bps. Q3FY24 (Y-o-Y) 9MFY24 (Y-o-Y) FY23 11 ho
Slide 20: Growth Drivers
SAMHI Hotels Ltd. Growth Drivers EQ IQ at Hyatt Regency Pune Holiday Inn Express Gurgaon Great Room
Slide 21: Upcoming developments
Inventory expansion New Upcoming Development by end of FY28 (Capex ~₹2,600 – 3,000mn) developments Chennai – 86 Mumbai – 3502 436 181 Renovation & rebranding of Four Points by Sheraton Pune New Addition by end of FY25 (Capex ~₹500- Reduction in debt / Renovation & rebranding of 920 600mn) finance co
Slide 22: Growth
Total Inventory of Growth 5,418 Rooms by FY28 • Significant capex already invested in these assets Rooms 617 New inventory, Significant upside with 11% • Inventory addition starting H2FY25 till FY28 Revenue/ EBITDA Nil Evaluating capital efficient long-term leases in key markets for future expansion
Slide 23: Asset Upgradation - Hyatt Regency Pune
Asset Upgradation - Hyatt Regency Pune Interventions Completed Key Interventions ▪ Current inventory of 301 room including 79 apartments ▪ Addition of 16 new apartments (potential to expand up to 30) ▪ Addition of 1 new speciality restaurant ▪ Full renovation of public areas, restaurants and meeting
Slide 24: Inventory Expansion - Holiday Inn Express Bangalore Whitefield
Inventory Expansion- Holiday Inn Express Bangalore Whitefield Existing inventory of 161 rooms Addition of 54 new rooms Existing New Additional revenue potential Hotel Block of ~₹60-70mn Fit-out in progress Scheduled to be Operational in Q2FY25 23 Guest Room design
Slide 25: New Opening - Holiday Inn Express Kolkata
New Opening - Holiday Inn Express Kolkata New Opening of 111 rooms SAMHI’s Entry to Kolkata, a strategic market in Eastern India Additional revenue potential of ~₹120 - 170mn Ready structure, fit-out in progress Scheduled to open in Q2FY25 24 Interior Perspectives
Slide 26: Renovation & Rebranding - Holiday Inn Express Greater Noida
Renovation & Rebranding - Holiday Inn Express Greater Noida Interior Perspective Rebranding of 137 operating rooms Additional revenue potential of ~₹50-65mn Fit-out in progress Renovation scheduled to be Completed by Q2FY25 25
Slide 27: Future ready
Future ready Opportunity Presence Strategy Financial flexibility Growth of office market and Present across 13 key cities and We have grown using an Rapid reduction in debt and aviation in India continues to with 8 strong global hotel acquisition and turnaround led finance cost combined with provide
Slide 28: Summary Financials
SAMHI Hotels Ltd. Summary Financials EQ IQ at Hyatt Regency Pune Sheraton Hyderabad Reception Lobby
Slide 29: Financial summary (Consolidated P&L)
Financial Q3FY24 Q3FY23 Change% 9MFY24 9MFY23 Change% FY23 Operating Rooms (#) 4,801 4,050 4,801 4,050 3,839 Occupancy (%) 71% 70% 71% 71% 72% summary Average Room Rate (₹) Asset Income 5,959 2,692 5,011 1,915 40.5% 5,504 6,817 4,691 5,421 25.7% 4,850 7,499 (Consolidated P&L) Asset EBITDA EBITDA Mar
Slide 30: Financial summary (Proforma P&L)
Financial Q3FY24 Q3FY23 Change% 9MFY24 9MFY23 Change% FY23 Operating Rooms (#) 4,801 5,012 4,801 5,012 4,801 Occupancy (%) 71% 71% 72% 72% 73% summary Average Room Rate (₹) Asset Income 5,959 2,692 5,032 2,428 10.9% 5,462 7,551 4,701 6,850 10.2% 4,862 9,488 (Proforma P&L) Asset EBITDA EBITDA Margin
Slide 31: Financial flexibility
Financial Mar 31, Jun 30, Sept 30, Dec 31, flexibility 2023 2023 2023 2023 Net Debt (₹mn) 28,339 29,383 17,974 18,427 TTM EBITDA* (₹mn) 3,273 3,333 3,398 3,580 8.7 8.8 Net Debt : EBITDA 5.3 5.1 On track to deliver a Interest rate 12.5% 13.0% 10.8% 10.2%1 stable and flexible Annualized interest cost
Slide 32: Management
SAMHI Hotels Ltd. Management Hyatt Place Gurgaon Courtyard by Marriott Bangalore Specialty Restaurant BGs
Slide 33: Experienced and professional team
Experienced and professional team Sanjay Jain Gyana Das Ashish Jakhanwala Rajat Mehra Senior Director, Corporate Tanya Chakravarty EVP & Head of Chairman, MD & CEO CFO Affairs, Company Secretary General Counsel and Compliance Officer Investments ▪ Experience across ▪ Previously worked ▪ Previously w
Slide 34: Headed by a professional Board with strong corporate experience
Headed by a professional Board with strong corporate experience… Ashish Manav Thadani Michael Peter Aditya Jain Michael David Ajish Abraham Archana Capoor Krishan Dhawan Jakhanwala Non-Executive & Schulhof Independent Holland Jacob Independent Independent Chairman, Non- Non-Executive & Director Inde
Slide 35: Glossary
Operating Glossary # Hotel Brand City Location Operator Segment Category Rooms 1 Hyatt RegencyTM Pune Nagar Road Hyatt Upper Upscale 301 Rebranding 2 Renaissance Ahmedabad SG Highway Marriott Upper Upscale 155 Same Store 3 Sheraton Hyderabad Gachibowli Marriott Upscale 272 Same Store 4 Courtyard by
Slide 36: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by SAMHI Hotels Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securitie
Slide 37: Thank You
Thank You Company SAMHI Hotels Ltd. CIN: U55101DL2010PLC211816 Mr. Gyana Das Executive Vice President & Head of Investments compliance@samhi.co.in www.samhi.co.in Investor Relations Advisors Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285 Ms. Ami Parekh / Mr. Rahul Agarwal +91-8082466