Apeejay Surrendra Park Hotels Ltd. · NSE:PARKHOTELS
Apeejay Surrendra Park Hotels — Q3 FY24 Earnings Presentation
43 slides from Apeejay Surrendra Park Hotels's earnings presentation, Mar 6, 2024
Slide 1: Exchange cover letter: Updated Investor Presentation and press release
APEEJAY SURRENDRA PARK HOTELS LIMITED Date: March 06, 2024 Listing Manager, BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Exchange Plaza, 5th Floor Plot 1st Floor, New Trading Ring Rotunda Building, No. C-1, Block G, Bandra Kurla Complex, Phiroze Jeejeebhoy T
Slide 2: Q3 & 9M FY24 Investor Presentation
Apeejay Surrendra Park Hotels Limited Q3 & 9M FY24 Investor Presentation March 5, 2024
Slide 3: Disclaimer
Disclaimer Certain statements discussed in this presentation may contain forward looking statements concerning the Company’s future business prospects and business profitability. Such forward- looking statements are not guarantees of future performance and are subject to a number of risks and uncert
Slide 4: Table of Contents
Table of Contents 1 Our Business 2 Key Strategies 3 Q3 & 9MFY24 Results Overview 4 Annexure 3
Slide 5: Our Business
THE Park, Hyderabad Our Business
Slide 6: ASPHL: A Pan India Branded Hospitality Company
ASPHL : A Pan India Branded Hospitality Company Our Hospitality Portfolio : Pan India Presence(1) Our Hospitality Brand 1967 Brand curated over 5 decades starting with our first hotel in Park Street 30 20 2,298 Kolkata Hotels Cities Keys Luxury Boutique Upscale and 7 1,101 Our Diversified Hospitalit
Slide 7: Our Hotel Brands: Product innovation and service excellence
Our Hotel Brands : Product innovation and service excellence attracting customer through a diversified and holistic offering Owned Hotels Leased Hotels Managed Hotels Our Diversified Asset and land parcel is owned Assets on land and building leased Assets operated and managed Business Model or lease
Slide 8: Our Hotel Portfolio: Strategically located across metros and emerging cities
Our Hotel Portfolio : Strategically located across metros and emerging cities THE PARK – Delhi NCR THE PARK – Bangalore THE PARK – Chennai THE PARK – Kolkata THE PARK – Hyderabad THE PARK – Navi Mumbai THE PARK – Goa Zone by the Park – Jaipur ASPHL has presence in 8 of 10 Key Markets(1) and is pursu
Slide 9: Strong F&B and Entertainment Brands coupled with Iconic Retail F&B chain
Strong F&B and Entertainment Brands coupled with our Iconic Retail F&B chain… Our Creative F&B offerings coupled with our Unique Bars and & Nightclub brands ensure a Resilient Business Model attracting both hotel guests and non resident patrons around the year Restaurants Night Clubs Bars & Clubs Re
Slide 10: Differentiated by design and experiences
… differentiated by design and experiences … Someplace Else – Mumbai Someplace Else – Kolkata Six 'O' One - Chennai Zen, THE PARK – Kolkata The Shack – Vizag Aqua, THE PARK – Delhi Lotus, THE PARK – Chennai Monsoon - Bangalore 9
Slide 11: High F&B and Entertainment contribution: stable and non-cyclical earnings
… with high F&B and Entertainment contribution : Adding to stable and non-cyclical earnings while complementing the hotel business F&B Contribution to Total Revenue F&B to Total Rev (%)(1) 44% 39% 36% 36% FY21 FY22 FY23 9MFY24 Demographic dividend to boost discretionary spending on food services 67.
Slide 12: Flurys: Our Iconic Brand
“Flurys” : Our Iconic Brand… Recent Awards Best All Day Breakfast Best Bakery in Kolkata Culinary Heritage in Kolkata – Zomato Restaurant Award – Zomato Restaurant Awards 2023 – INTACH(1) 2023 Awards 2023 Note: (1) Indian National Trust for Art and Cultural Heritage. 11
Slide 13: Successful and Profitable Track Record with Industry Leading EBITDA margins
…with a Successful and Profitable Track Record of Industry Leading EBITDA margins As of date Asset Light Business Model Provides with Diversification, Resiliency and Scalability 75 Total Outlets Number of Outlets 1 Outlet 71 75 69 4 4 59 4 52 3 26 28 65 Outlets 3 26 22 20 3 Outlet 6 Outlet 39 41 43
Slide 14: Dedicated and Experienced Leadership Team
Dedicated and Experienced Leadership Team with High Standards of Corporate Governance Board of Directors Priya Paul Karan Paul Vijay Dewan Debanjan Mandal Suresh Kumar Ragini Chopra Designation: Chairperson, Designation: Non-Executive Designation: Managing Director Designation: Independent Designati
Slide 15: Key Strategies
THE Park, Navi Mumbai Key Strategies
Slide 16: Our Key Strategies: Our Growth Portfolio
Our Key Strategies : Our Growth Portfolio 1 Continued focus on the development of existing land banks and strategic 2 Efficient capital allocation with an optimal portfolio of owned, leased and allocation of capital managed hotels ✓ Capitalizing on low historic cost of land and Assets Under ✓ Develo
Slide 17: Our Key Strategies: Improving Operating Efficiency and Strengthen Flurys
Our Key Strategies : Improving Operating Efficiency and Strengthen Flurys 3 Defined ESG goals creating sustained Renovation and Refurbishment & BI Improve Operational Efficiencies outcomes that drive value and fuel implementation growth ✓ Effective cost management by ✓ Investments in renovation and
Slide 18: Q3 & 9M FY24 Results Overview
THE Park, Chennai Q3 & 9M FY24 Results Overview
Slide 19: Q3 FY24 – Best-ever Quarterly Performance
Q3 FY24 – Best-ever-Quarterly Performance Operational & Financial Highlights – Q3 FY24 vs. Q3FY23 Rs. 1,636 mn. Rs. 756 mn. Rs. 6,562 Total Revenue F&B revenue RevPAR 14.7% 13.2% 13.8% 90 Rs. 7,286 Rs. 606 mn. Occupancy Average Room Rate EBITDA (%) 13.9% 14.6% 37 EBITDA margin (%) Note: (1
Slide 20: Management Comment
Management Comment Commenting on the Q3 & 9M FY24 performance Ms. Priya Paul, Chairperson said: “We are delighted to share our maiden earnings announcement following our outstanding listing. We extend a warm welcome to all our public shareholders, and we remain committed to sustained growth and prog
Slide 21: Q3FY24 - Key Developments
Q3FY24 - Key Developments Successful listing on NSE and BSE – achieved overwhelming subscription of ~60x • The IPO attracted strong interest across all investor categories • ASPHL raised Rs. 920 crore through the IPO, with a fresh issue of shares worth Rs. 600 crore and an offer for sale worth Rs. 3
Slide 22: Q3FY24 – Awards and Accolades
Q3FY24 – Awards and Accolades Someplace Else, THE Park Kolkata awarded as iBar at THE Park Bangalore won THE Park Indore ‘Bar/Pub with Live gigs of the Year – East’ at 'Best Nightclub of the Year - Bangalore’ won ‘Best Lounge of the Year in West India’ Restaurants & Nightlife Awards 2023 by at the p
Slide 23: Key Financial Highlights – Best-ever Q3 & 9M FY24 Financials
Key Financial Highlights – Best-ever Q3 & 9M FY24 Financials In Rs. mn. Total Income EBITDA Margins 37% 36% 37% 35% 35% 4,359 1515 3,811 1332 160 0 140 0 120 0 100 0 1,426 1,415 1,636 529 509 606 800 600 400 200 0 Q3 FY23 Q2 FY24 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q2 FY24 Q3 FY24 9M FY23 9M FY24 Shift
Slide 24: Strong Operational Performance – Q3 & 9M FY24
Strong Operational Performance – Q3 & 9M FY24 Occupancy (%) Average Room Rate (Rs.) 7,286 93 91 92 6,399 6,154 6,442 90 90 5,749 Q3 FY23 Q2 FY24 Q3 FY24 9M FY23 9M FY24 Q3 FY23 Q2 FY24 Q3 FY24 9M FY23 9M FY24 Shift (%) QoQ: 3.2% YoY: na 1.1% Shift (%) QoQ: 18.4% YoY: 13.9% 12.1% ▪ Various
Slide 25: RevPARs maintain upward momentum
RevPARs maintain upward momentum RevPAR (Rs.) 6,562 5,768 5,709 5,941 5,248 ▪ RevPAR during Q3FY24 registered a 13.8% Y-o-Y growth at Rs. 6,562 ▪ High Occupancy levels at the Company’s owned hotels have largely enabled strong RevPAR performance Q3 FY23 Q2 FY24 Q3 FY24 9M FY23 9M FY24 Shift (%) QoQ:
Slide 26: F&B Segment: Diversifying Revenue Streams
F&B Segment: Diversifying Revenue Streams F&B to Total Revenue (%) 47% 46% 45% 44% Q3 FY23 Q3 FY24 9M FY23 9M FY24 ▪ Strong performance in the Food & Beverage (F&B) and Entertainment segments contributed to overall earnings stability ▪ Expansion of F&B offerings and efforts to engage customers resul
Slide 27: Segment-wise revenue mix (%)
Segment-wise revenue mix (%) Others 5% Others 6% Management Management Fees 2% Fees 1% Room Rent 47% Room Rent 47% Q3 Q3 FY23 FY24 F&B 47% F&B 46% Others 7% Others 6% Management Management Fees 2% Room Rent 46% Fees 2.0% Room Rent 48% 9M 9M FY23 FY24 F&B 45% F&B 44% 26
Slide 28: Consolidated P&L Statement
Consolidated P&L Statement In Rs. mn. Y-o-Y Q-o-Q Y-o-Y Q3 FY24 Q3 FY23 Q2 FY24 9M FY24 9M FY23 Change (%) Change (%) Change (%) Income 1,589 1,404 13.2% 1,349 17.8% 4,233 3,664 15.5% Other Income 47 22.7 108.4% 65.7 -28.0% 126.3 147.2 -14.2% Total Income 1,636 1,426 14.7% 1,415 15.6% 4,359 3,811 14
Slide 29: Prudent Capital Allocation coupled with IPO has strengthened Balance sheet
Prudent Capital Allocation coupled with IPO has strengthened Balance sheet allowing Headroom for Growth Net Debt Movement : Pre IPO (Rs. mn.) Rs. 6,000.00 mn. General Corporate 500.00 << Purpose & Offer Expenses 5,834.00 6,137.59 5,807.10 5,500.10 5,630.00 Net Cash(1) Rs. 5,500 mn. of << total Rs. 6
Slide 30: Annexure
THE Park, New Delhi Annexure
Slide 31: Zone by THE Park Gopalpur (Newly Opened)
Zone by THE Park Gopalpur (Newly Opened)
Slide 32: Zone by THE Park Dimapur (Newly Opened)
Zone by THE Park Dimapur (Newly Opened)
Slide 33: Zone Connect Mussoorie (Newly Opened)
Zone Connect Mussoorie (Newly Opened)
Slide 34: Zone Connect Indore (Newly Opened)
Zone Connect Indore (Newly Opened)
Slide 35: Zone Connect Udaipur (Newly Opened)
Zone Connect Udaipur (Newly Opened)
Slide 36: Zone by THE Park Digha (Upcoming)
Zone by THE Park Digha (Upcoming)
Slide 37: THE Park Collection, Patiala (Upcoming)
THE Park Collection, Patiala (Upcoming)
Slide 38: THE Park Collection, Chettinad Palace (Upcoming)
THE Park Collection, Chettinad Palace (Courtyard) – Representation (Upcoming)
Slide 39: About Us
About Us Apeejay Surrendra Park Hotels Limited (ASPHL) is a leading player in the hospitality sector renowned for its upscale properties and diverse F&B offerings. Since its inception in 1967, with the opening of its first property in Kolkata under the renowned brand "THE PARK," the Company has expa
Slide 40: Thank you
THE Park, Bangalore Thank you
Slide 41: Apeejay Surrendra Park Hotels Ltd. announces Q3 & 9M FY24 Results
Apeejay Surrendra Park Hotels Ltd. announces Q3 & 9M FY24 Results Q3 FY24 Registers its best-ever quarterly performance Total Income grows 15% to Rs. 1,636 million RevPAR up 14% Y-o-Y to Rs. 6,562 Industry leading Occupancy performance at 90% EBITDA higher by 15% YoY at Rs. 606 million, PAT higher b
Slide 42: Results Release
Results Release For immediate publication Key Developments: • Successful listing on NSE and BSE – achieved overwhelming subscription of ~60x o The IPO attracted strong interest across all investor categories o ASPHL raised Rs. 920 crore through the IPO, with a fresh issue of shares worth Rs. 600 cro
Slide 43: Results Release
Results Release For immediate publication About Apeejay Surrendra Park Hotels Limited: Apeejay Surrendra Park Hotels Limited (ASPHL) is a leading player in the hospitality sector renowned for its upscale properties and diverse F&B offerings. Since its inception in 1967, with the opening of its first
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