Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q2 FY24 Earnings Presentation
27 slides from Chalet Hotels's earnings presentation, Oct 25, 2023
Slide 1: Exchange filing cover letter for investor presentation
October 25, 2023 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 Q2 FY24
INVESTOR PRESENTATION Q2 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: Strong trajectory
Strong trajectory India Flying Additional Keys at Key Metrics Novotel Pune Remain Strong Increase in airports Commenced operations RevPAR Rs. 7,034, Increase in air traffic for additional 88 keys at up by 25% YoY Increase in passengers the Novotel Pune on 4th October 2023, ADR Rs. 9,610, up increasi
Slide 5: Q2FY24 Operational Highlights
Q2FY24 OPERATIONAL HIGHLIGHTS
Slide 6: Additional Keys – Novotel Pune
Additional 88 Keys – Novotel Pune ‘Novolution’ premier rooms | Inventory up 39% to 311 Modern and tech-savvy rooms meticulously designed to cater to the preferences and inclinations of today's contemporary travelers 5
Slide 7: Consolidated Performance Highlights
Consolidated Performance Highlights Robust YoY growth In Rs. Mn. REVENUE ADJUSTED EBITDA PAT 27% 48% 2.3x 3,146 3,182 1,299 1,302 887 2,505 877 364 157 Q2FY23 Q1FY24 Q2FY24 Q2FY23 Q1FY24^ Q2FY24^ Q2FY23 Q1FY24* Q2FY24 ^Excluding – 1. GST payment of Rs 107 Mn (Q1FY24) and Rs 1 Mn (Q2 FY24) for inelig
Slide 8: Hospitality: Performance Highlights
Hospitality: Performance Highlights In Rs. Mn. Revenue ADR (in Rs.) Room 10,317 9,610 21% Q2FY23 1,328 743 163 2,233 F&B 7,930 Other Q1FY24 1,747 866 208 2,822 Total Q2FY24 1,813 822 209 2,844 27% Q2FY23 Q1FY24 Q2FY24 Adjusted EBITDA RevPAR (in Rs.) 7,182 7,034 25% Q2FY23 811 5,650 Q1FY24* 1,198 Q2F
Slide 9: Hospitality: City-wise Performance
Hospitality: City-wise Performance Q2FY24 Q2FY23 YoY% H1FY24 H1FY23 YoY% FY23 ADR (Rs.) MMR 9,861 8,134 21% 10,340 8,057 28% 9,741 Others* 9,309 7,634 22% 9,418 7,113 32% 8,170 Combined 9,610 7,930 21% 9,944 7,684 29% 9,169 Occupancy (%) MMR 74% 71% 3 pp 74% 76% -2 pp 74% Others* 72% 71% 1 pp 69% 72
Slide 10: Hospitality: Enhanced Efficiencies
Hospitality: Enhanced Efficiencies Total expenses % of Revenue 64% 63% 58% FY20 Q2FY23 Q2FY24 Staff to room ratio* Utilities % of Revenue Payroll Costs % of Revenue 1.18 14.9% 6.9% 7.2% 13.7% 14.3% 0.93 0.97 6.1% Dec-19 Mar-23 Sep-23 FY20 Q2FY23 Q2FY24 FY20 Q2FY23 Q2FY24 *Includes full time and cont
Slide 11: Rental/Annuity: Performance Highlights
Rental/Annuity: Performance Highlights Leasable Area (msf.) (Rs. Mn.) Q2FY24 Q1FY24 FY23 1.2 Total Revenue 300 285 1,000 0.5 EBITDA 237 227 838 EBITDA% 79% 80% 84% FY23 Q2FY24 Occupancy (%) 98% 57% FY23 Q2FY24* Artists’ rendering *CIGNUS Whitefield Bangalore® Tower - 0.66 msf is in the process of be
Slide 12: Profit & Loss Statement
Profit & Loss Statement Particulars (in Rs. Mn) Q2FY24 Q1FY24 QoQ% Q2FY23 YoY% H1FY24 H1FY23 YoY% FY23 Total Income 3,182 3,146 1% 2,505 27% 6,327 5,104 24% 11,780 Total Expenditure 1,886 2,010 -6% 1,628 16% 3,896 3,139 24% 6,757 EBITDA 1,296 1,136 14% 877 48% 2,432 1,965 24% 5,023 Margin % 41% 36%
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (in Rs. Mn) Sep 23 Mar 23 Fixed Assets 21,866 21,000 Capital Work in-progress 9,870 9,557 Investment Property 7,800 7,895 Goodwill 537 537 Other Non-Current assets 3,836 2,751 Cash and Cash Equivalents 1,451 1,328 Other Current Assets* 6,176 5,716 Total ASSETS
Slide 14: Leverage Position
Leverage Position in Rs. Mn Mar-18 Mar-19 Mar-21 Mar-22 Mar-23 Sep-23 Allocable to operating assets 23,339 13,581 14,403 14,147 11,757 14,914 Allocable to under-construction/to be operationalized assets 3,684 891 4,308 8,191 12,611 11,019 Net Debt 27,023 14,472 18,711 22,338 24,368 24,933 EBITDA YTD
Slide 15: Q2FY24 Project Updates
Q2FY24 PROJECT UPDATES
Slide 16: Pipeline right on track
Pipeline right on track New Rooms/ Leasable area Location Completion update The Dukes Retreat Rennovatin & 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 ro
Slide 17: Hospitality: Announced pipeline
Hospitality: Announced pipeline ~30% of the additional room capacity is on existing assets which is expected to yield high EBIDTA margins 3,760 Keys 3,480 Keys ~870 3,090 Keys rooms 2,890 Keys Oct’23 FY25 FY26 FY27 + 88 Keys + 200 Keys + 390 Keys + 280 Keys Novotel Pune Nagar Road Expansion ~130 Key
Slide 18: Rental/Annuity: Announced pipeline
Rental/Annuity: Announced pipeline Strategic Risk Hedge 3.1 msf leasable Commercial office space by FY27 3.1 msf 2.3 msf ~2.5 x 1.2 msf Oct’23 FY24 FY27 1.1 msf 0.8 msf CIGNUS Powai® Tower II 0.8 msf CIGNUS Powai® Tower I 0.3 msf CIGNUS Whitefield Bangalore® Tower II 17
Slide 19: Real-estate Development in Bengaluru
Real-estate Development in Bengaluru A luxury residential offering by K Raheja Corp Homes at Koramangala, Bengaluru. As of Oct ’23 Residential (lac Sqft) No of Units 8.5 321 9 2 Rs 3,750 mn 1 Sold 3.1 88 Residential Towers New Residential Pending cost of Commercial Tower Unsold 5.4 233 close to comp
Slide 20: About Chalet
ABOUT CHALET
Slide 21: 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 600 Keys Marriott Executive Apartments Mumbai, Vashi 173 Keys 152 Keys PUNE LONAVALA Novotel Pune Nagar Road The Dukes Retreat, Lonavala - 80 K
Slide 22: Rental/Annuity: Existing Portfolio
Rental/Annuity: Existing Portfolio MUMBAI BENGALURU The Orb - Retail & Office Tower CIGNUS Whitefield Bangalore® Tower I 0.5 Mn Sq. ft. 0.66 Mn Sq. ft. (Under Pipeline: CIGNUS Whitefield Bangalore® Tower II - leasable area ~0.3 msf) 21
Slide 23: Our Success story
Our Success story 78% of Renewable 100% electricity as on FY23 Recycled wet waste through Organic EV charging stations USGBC LEED Gold Waste Composters operational at 7 properties certification for 4 Recycling of waste water properties Rainwater harvesting system ELECTRICITY CONSUMPTION WASTE MANAGE
Slide 24: 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 25: 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 26: 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 27: 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