Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q3 FY24 Earnings Presentation
25 slides from Chalet Hotels's earnings presentation, Jan 24, 2024
Slide 1: Exchange filing cover letter
January 24, 2024 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 Q3 FY24
INVESTOR PRESENTATION Q3 FY24
Slide 3: Safe Harbor
Safe Harbor 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 4: Q3 Strong trajectory
Q3 Strong trajectory Touching New Key Metrics Highs Remain Strong Superior Returns Highest Ever RevPAR Rs. 7,838, up Hospitality EBITDA Consolidated Revenue by 18% YoY Margin at at Rs 3,799 Mn 46.3% up by 5 pp YoY Hospitality Revenue up Highest Ever by 29% YoY Consolidated EBITDA Consolidated EBITDA
Slide 5: Q3FY24 Operational Highlights
Q3FY24 OPERATIONAL HIGHLIGHTS
Slide 6: Consolidated Performance Highlights
Consolidated Performance Highlights Highest quarterly Revenue and EBITDA In Rs. Mn. REVENUE ADJUSTED EBITDA PAT 18% 44% 3x 3,799 1,722 1,024 3,218 3,182 1,302 1,193 706 364 Q3FY23 Q2FY24 Q3FY24 Q3FY23* Q2FY24^ Q3FY24 Q3FY23 Q2FY24 Q3FY24 Q3FY23 includes Rs 263 mn one time gain and Rs 605 mn exceptio
Slide 7: Hospitality: Best Q3
Hospitality: Best Q3 In Rs. Mn. Revenue ADR (in Rs.) Room Q3FY23 1,560 894 2,654 8% F&B 10,168 10,974 11,253 9,610 Other Same Q2FY24 Store 1,813 822 2,844 11% Total Q3FY24 2,054 1,135 3,434 29% Q3FY23 Q2FY24 Q3FY24 Q3FY24 Adjusted EBITDA RevPAR (in Rs.) 18% Q3FY23 1,085 7,034 7,838 6,640 Q2FY24* 1,1
Slide 8: Hospitality: City-wise Performance
Hospitality: City-wise Performance Q3FY24 Q3FY23 YoY% 9MFY24 9MFY23 YoY% FY23 ADR (Rs.) MMR 11,510 11,037 4% 10,746 8,972 20% 9,741 Others* 10,235 8,817 16% 9,694 7,632 27% 8,170 Combined 10,974 10,168 8% 10,298 8,444 22% 9,169 Occupancy (%) MMR 78% 67% 11 pp 75% 73% 2 pp 74% Others* 64% 63% 1 pp 67
Slide 9: Hospitality: Enhanced Efficiencies
Hospitality: Enhanced Efficiencies Total expenses % of Revenue 63% 59% Best Q3 EBITDA 54% margin at 46.3% FY20 Q3FY23 Q3FY24 Staff to room ratio* Utilities % of Revenue Payroll Costs % of Revenue 1.18 14.9% 6.9% 0.93 0.93 12.4% 12.2% 5.6% 4.8% Dec-19 Mar-23 Dec-23 FY20 Q3FY23 Q3FY24 FY20 Q3FY23 Q3FY
Slide 10: Rental/Annuity: Performance Highlights
Rental/Annuity: Performance Highlights Msf. (Rs. Mn.) Q3FY24 9MFY24 9MFY23 Total Revenue 301 887 719 1.2 EBITDA 251 715 578 0.8 EBITDA% 83% 81% 80% 0.5 0.5 Coming Soon: FY23 Q3FY24* CIGNUS Powai® Tower I - 0.9 msf (0.04 msf leased in Q3FY24) Leasable Area Leased Area CIGNUS Whitefield Bangalore® Tow
Slide 11: Profit & Loss Statement
Profit & Loss Statement Particulars (in Rs. Mn) Q3FY24 Q2FY24 QoQ% Q3FY23 YoY% 9MFY24 9MFY23 YoY% FY23 Total Income 3,799 3,182 19% 3,218 18% 10,126 8,322 22% 11,780 Total Expenditure 2,077 1,886 10% 1,763 18% 5,973 4,901 22% 6,757 EBITDA 1,722 1,296 33% 1,455 18% 4,154 3,420 21% 5,023 Margin % 45%
Slide 12: Leverage Position
Leverage Position in Rs. Mn Mar-18 Mar-19 Mar-21 Mar-22 Mar-23 Dec-23 Allocable to operating assets 23,339 13,581 14,403 14,147 11,757 12,432 Allocable to under-construction/to be operationalized assets 3,684 891 4,308 8,191 12,611 11,622 Net Debt 27,023 14,472 18,711 22,338 24,368 24,054 EBITDA YTD
Slide 13: Project Updates
PROJECT UPDATES
Slide 14: Strong Pipeline
Strong Pipeline New Rooms/ Leasable area Location Completion update The Dukes Retreat Renovation & Expansion ~70 New Lonavala Q3 FY25 Existing rooms – 80 Bengaluru Marriott Hotel Whitefield Expansion ~130 rooms Bengaluru Q4 FY25 Existing rooms – 391 Taj at Delhi International Airport ~390 rooms New
Slide 15: Hospitality: Pipeline
Hospitality: Pipeline 3,764 Keys 3,484 Keys ~870 3,094 Keys rooms 2,894 Keys Dec’23 FY25 FY26 FY27 + 200 Keys + 390 Keys + 280 Keys ~130 Keys ‘Taj’ at Terminal 3, Delhi ‘Hyatt Regency’ at Airoli, Bengaluru Marriott Hotel Airport Mumbai Whitefield ~70 Keys The Dukes Retreat 14
Slide 16: Rental/Annuity: Pipeline
Rental/Annuity: Pipeline Strategic Risk Hedge 3.2 msf 2.4 msf ~2.7x 1.2 msf Dec’23 FY24 FY27 1.2 msf 0.8 msf CIGNUS Powai® Tower II 0.9 msf CIGNUS Powai® Tower I 0.3 msf CIGNUS Whitefield Bangalore® Tower II 15
Slide 17: Real-estate Development in Bengaluru
Real-estate Development in Bengaluru As of Dec’23 (Msf) No. of Units Residential (A+B) 0.85 321 Sold in FY24 0.11 42 Total sales till date (A) 0.39 125 Unsold (B) 0.46 196 Commercial 0.15 9 2 Rs 3,750 mn 1 Residential Towers New Residential Pending cost of Commercial Tower close to completion Towers
Slide 18: About Chalet
ABOUT CHALET
Slide 19: Hospitality: Existing Portfolio
Hospitality: Existing Portfolio MUMBAI JW Marriott Mumbai Sahar The Westin Mumbai Powai Lake Lakeside Chalet, Mumbai - Four Points By Sheraton Navi 588 Keys 604 Keys Marriott Executive Apartments Mumbai, Vashi 173 Keys 152 Keys PUNE LONAVALA Novotel Pune Nagar Road The Dukes Retreat, Lonavala - 80 K
Slide 20: Rental/Annuity: Existing Portfolio
Rental/Annuity: Existing Portfolio MUMBAI BENGALURU The Orb - Retail & Office Tower CIGNUS Powai® Tower I CIGNUS Whitefield Bangalore® Tower I 0.5 Mn Sq. ft. 0.9 Mn Sq. ft. 0.7 Mn Sq. ft. Leasing commenced, CIGNUS Whitefield Bangalore® Tower II 0.3 msf handover soon to start 19
Slide 21: Our Success story
Our Success story ENERGY MANAGEMENT WATER & WASTE MANAGEMENT E Mobility GREEN BUILDINGS 100% 4 USGBC LEED Gold 65% Wet waste treated through Operational assets have EV charging certified properties Organic Waste Composters Renewable energy stations^ Recycling of wastewater The Westin Hyderabad YTD F
Slide 22: Climate Change Actions
Climate Change Actions First hospitality company globally to sign up for all the three initiatives of The Climate Group The Company sourced 78% of its The Company is strategically 7 of our operational assets are electricity from renewable sources in investing in technology and IoT- equipped with EV
Slide 23: Profit & Loss Statement – 5 Year trend
Profit & Loss Statement – 5 Year trend Particulars (Consolidated) (in Rs. Mn) FY23* FY22 FY21 FY20 FY19 ADR 9,169 4,576 4,040 8,482 8,210 Occupancy 72% 51% 30% 71% 77% RevPAR 6,605 2,355 1,214 6,022 6,283 Total Income 11,780 5,297 3,075 10,087 10,348 Total Expenditure 6,757 4,093 2,785 6,380 6,680 E
Slide 24: Balance Sheet – 5 Year trend
Balance Sheet – 5 Year trend Particulars (in Rs. Mn) FY23* FY22 FY21 FY20 FY19 Inventory Hotels 8 7 7 7 6 Rooms 2,634 2,554 2,554 2,554 2,311 Capital Employed 38,531 35,821 32,276 32,816 28,348 Investments# 5,985 3,489 1,433 3,277 656 Net Worth 15,415 13,410 14,329 15,492 14,469 Net Debt (Excl. Pref
Slide 25: Thank You
Chalet Hotels Limited Thank You Raheja Towers, 4th Floor, Block G, BKC, Mumbai 400 051 Investor Relations Contact: Ruchi Rudra ruchi.rudra@chalethotels.com Meghna Luthra meghna.luthra@chalethotels.com investorrelations@chalethotels.com