Chalet Hotels Ltd. · NSE:CHALET
Chalet Hotels — Q1 FY23 Earnings Presentation
28 slides from Chalet Hotels's earnings presentation, Jul 28, 2022
Slide 1: Cover letter to stock exchanges
CH A LETHOTELS July 28, 2022 National Stock Exchange of India Limited BSE Limited Exchange Plaza Corporate Relationship Department Bandra Kurla Co-mplex-;- PhiroZe Jeejeebhoy Towers; Bandra (East), Dalal Street, Fort, Mumbai 400 051. Mumbai 400 001. Scrip Code: CHALET Scrip Code: 542399 Dear Sir/ Ma
Slide 2: Investor presentation Q1FY23
Investor presentation Q1FY23
Slide 3: A good start to the year
A good start to the year Best Q1 performance till date Hotel Performance 6%* 300 Bps Rs. 2,599 Mn 78% Consol revenue Occupancy 5%* 95% Rs. 2,298 mn Rs. 5,794 Hotel Revenue RevPAR Recovery * Vs Q1FY20 * Vs Q1FY20 2
Slide 4: A good start to the year
A good start to the year Best Q1 performance till date Leasing traction ~93% commercial space leased in Sahar, Mumbai Advance stages of discussion with clients on leasing in Bengaluru Bengaluru Residential project Municipal approvals and RERA registration in progress Sales to commence from Q3FY23 Pr
Slide 5: Hotel at T3 terminal New Delhi
Hotel at T3 terminal New Delhi IGI Airport Delhi is the gateway to India and one of the busiest airports of Asia Making it the most sought-after terminal hotel location in India 4
Slide 6: Hotel at T3 terminal New Delhi
Hotel at T3 terminal New Delhi Successful bidder to Develop and Operate Hotel at Terminal 3 of Delhi Airport ❖ 5-star hotel connected to the T3 Terminal building, Delhi Airport ❖ ~350-400 rooms ❖ Expected completion by FY2026 ❖ Contract being awarded by Delhi International Airport Limited (DIAL) a c
Slide 7: Operational Overview
01 Operational Overview
Slide 8: Consolidated performance
Consolidated performance Like-to-like performance (In Rs. Mn) 2553 2462 1497 Q1FY22 Revenue 1052 9% 3% 855 341 Q1FY23 Q4FY22 Q1FY20 Revenue EBITDA 88% Hospitality Rental / Annuity Others Adjusted for: 1. Q1FY23: Non-Recurring income Q1FY23 of Rs. 46 mn includes - Interest on Income tax refund Rs. 30
Slide 9: Steady ramp-up
Steady ramp-up (In Rs. Mn) Quarterly performance Monthly performance 7000 90% 79% 81% 85% 78% 6025 73% Second Wave Third 80% 6000 5794 5735 Wave 5616 75% 68% 70% 64% 5000 60% 65% 58% 58% 59% 56% 57% 60% 55% 54% 54% 4232 55% 4000 47% 50% 3554 45% 3035 2973 2978 38% 3000 36% 36% 40% 2571 2703 35% 2161
Slide 10: Steady ramp-up
Steady ramp-up (In Rs. Mn) Hospitality Performance 2,298 1420 1,264 950 915 724 367 627 290 462 138 312 358 20 19 -145 -107 -99 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22* Q2FY22* Q3FY22 Q4FY22 Q1FY23 Total Revenue EBITDA *Excludes : Rebate amounting to Rs. 4.62 mn and Rs. 34.85 mn from the Hotel operator i
Slide 11: Hospitality City-wise Performance
Hospitality City-wise Performance Q1FY23 Revenue Rs. 2,298 Mn Q1FY23 Q4FY22 QoQ% Q1FY20 YoY% FY22 6% ADR (Rs.) MMR 7,988 5,797 38% 7,860 2% 4,714 18% Bengaluru 7,344 5,572 32% 8,835 -17% 4,403 Hyderabad 6,980 4,974 40% 8,116 -14% 4,850 Pune 5,099 3,914 30% 3,505 11% Combined 7,457 5,429 37% 8,078 -8
Slide 12: Enhanced efficiencies – Hospitality Q1FY23
Enhanced efficiencies – Hospitality Q1FY23 Staff to room ratio** 300 Bps improvement in 0.87 June-22 EBITDA Margins (0.74 as on March-21) (as compared to Q1FY20 same-store basis) (1.18 as on Dec-19) Built in long-term efficiencies in fixed costs Payroll Costs % of Revenue Utilities as a % of Revenue
Slide 13: Rental / Annuity Business
Rental / Annuity Business (In Rs. Mn) Steady rental from Commercial portfolio The Orb – Office Tower, Sahar Q1FY23 Q4FY22 FY22 FY21 • 93% space leased Total Revenue 231 216 1,050 931 SLM 12 15 75 115 Inorbit Mall Bengaluru EBITDA 183 144 789 724 • Conversion to commercial office space underway • ~0.
Slide 14: Consolidated Profit / Loss Statement
Consolidated Profit / Loss Statement (In Rs. Mn) Particulars Q1FY23 Q4FY22 QoQ% Q1FY22 YoY% FY22 Total Income 2,599 1,535 69% 732 255% 5,297 Total Expenditure 1,511 1,166 30% 765 98% 4,093 EBITDA from Continuing Operations 1,088 369 195% -33 1,204 EBITDA from Discontinued Operations - - - 2 -65 EBIT
Slide 15: Leverage Position
Leverage Position (In Rs. Mn) Net Debt Movement Interest Rate Movement 22,340 (Rupee Loans) 22,338 18,711 8.04% 49 3,627* 2* Bps 21,192 22,340 17,184 7.55% *Rs. 3,489 Mn *Rs. 878 Mn Project expenses Project expenses 1,527 1,146 - Mar-21 Jun-22 Mar-21 Mar-22 Jun-22 ECB Loans Rupee Loan Excluding Pref
Slide 16: Project Update
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Slide 17: Ongoing Projects - Commercial
Ongoing Projects - Commercial Commercial Tower-1 at Westin The Commercial Tower in Marriott Commercial Tower-2 at Westin Complex, Powai is a premium office Complex, Whitefield, Bengaluru is a Complex, Powai a premium office space ~0.78 msf. premium office space with leasable area space ~0.75 msft ~0
Slide 18: Ongoing Projects - Hotel
Ongoing Projects - Hotel Addition of 88 rooms at Novotel Nagar Westin 2 Hyderabad Mindspace with 168 5-star Hotel at Terminal 3, Delhi Airport Road Pune rooms ~350-400 rooms Expected to be completed by Q2FY23 Expected to be commissioned by Q4FY23 Expected to be completed by FY26 17
Slide 19: Real-estate development in Bengaluru
Real-estate development in Bengaluru ❖ 9 residential towers of 10 floors each ❖ 2 residential towers of 11 floors each ❖ New Commercial block for strata sale ❖ ~Rs. 4,250 mn estimated cost to completion ❖ Project expected to be completed by FY26 Approval in place from existing customers for revised
Slide 20: Re-strategizing
Re-strategizing Repurposing assets to stabilize returns Inorbit Mall Whitefield, Bengaluru The Orb – Office Tower 0.3 mn sq ft 0.12 mn sq ft ✓ Repurposing to commercial office space ✓ 7 retail F&B tenants to continue ✓ Conversion expected to be completed by Q3FY23 ✓ Conversion from retail to office
Slide 21: About Chalet
03 |: About Chalet
Slide 22: Sustainable tomorrow
Sustainable tomorrow USGB Gold Leed Certification Energy Initiatives – JW Marriot Mumbai Sahar ✓ Increase contribution of electricity sourced from – Marriott Whitefield Bengaluru non fossil fuel-based sources - 61% of total – Office Tower Sahar, Mumbai consumption as of June 2022 – Office Tower Whit
Slide 23: Chalet Signs Climate Group Initiatives
Chalet Signs Climate Group Initiatives First hospitality company globally to sign up for all the three initiatives of The Climate Group ✓ 100% of the vehicle fleet ✓ Chalet Hotels commits to ✓ All properties in the used for guest transport, will double its revenue per unit Company’s portfolio to tra
Slide 24: Chalet A Great Place To Work
Chalet A Great Place To Work ® Certified as a Great Place to Work © in 2022 – 3rd year in a row Rank 4th in Mid-Size companies in India Chalet Hotels Ranked 40# in 2021 Best Workplaces in Asia by Great Place to Work® Chalet has been recognized amongst ‘Top 10 | Mid – size India’s Best Workplaces for
Slide 25: Our Hotel Portfolio
Our Hotel Portfolio Novotel Pune Nagar Road Hotel JW Marriott Mumbai Sahar Bengaluru Marriott Hotel Whitefield The Westin Hyderabad Mindspace (427 (223 Keys) (588 Keys) (391 Keys) Keys) Strategically Chosen Brands at Key Locations Four Points by Sheraton Navi Lakeside Chalet, Mumbai-Marriott Executi
Slide 26: Hotel-led Complementary Mixed-Use Developments
Hotel-led Complementary Mixed-Use Developments Strategy of co-locating projects augur well for Business Demand coupled with optimal utilization of available land Office (0.9 Mn sqft) Office Block Whitefield, Bengaluru The Orb - Office Tower Sahar, Mumbai 0.4 mn sq ft 0.5 mn sq ft in Prime Location 2
Slide 27: Disclaimer
Disclaimer This release has been prepared by Chalet Hotels Ltd (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 reas
Slide 28: Thank You!
Investor Relations Contact Ms. Ruchi Rudra E-mail: ruchi.rudra@chalethotels.com investorrelations@chalethotels.com Thank You! Chalet Hotels Limited Raheja Towers, 4th Floor, Block G, BKC, Mumbai 400 051