Indian Hotels Co. Ltd. · NSE:INDHOTEL
Indian Hotels — The Indian Hotels Company — Q3 FY25 Earnings Presentation
39 slides from Indian Hotels's earnings presentation, Jan 17, 2025
Slide 1: Continued Growth Momentum
Continued Growth Momentum GLOBAL CONFERENCE CALL Q3 FY25 17th January, 2025 1
Slide 2: Umaid Bhawan Palace, Jodhpur
UMAID BHAWAN PALACE, JODHPUR HOTEL OF THE YEAR – GALLIVANTER’S GUIDE 2
Slide 3: A Quarter of Excellent Growth Momentum & Results
A QUARTER OF EXCELLENT GROWTH MOMENTUM & RESULTS MOMENTUM FINANCIALS Portfolio Demand Revenue & Profit Cash & Liquidity 55 20 13% 29% 32% ₹ 2,800 Cr+ Revenue EBITDA Signings Openings RevPAR Growth YoY Gross Liquidity Growth YoY Growth YoY (Domestic) 9M FY25 360 Hotels 43.6k rooms Portfolio Robust Re
Slide 4: Financial Highlights Q3FY25
Revenue & Profit FINANCIAL HIGHLIGHTS Q3FY25 11th CONSECUTIVE QUARTER OF BEST EVER PERFORMANCE Q3 Revenue EBITDA OP. EBITDA & Growth YoY REVENUE EBITDA PAT PAT MARGIN MARGIN MARGIN ₹ 2,592 Crore ₹ 1,020 Crore 39.4% 38.0% ₹ 582 Crore 22.5% CONSOLIDATED# ↑ 29% ↑ 32% ↑ 0.8 pp ↑ 0.7 pp ↑ 29% ↓ 0.1 pp ₹
Slide 5: Powered by Growth in Both Segments
Revenue & Profit ….POWERED BY GROWTH IN BOTH SEGMENTS Q3 Revenue & Growth YoY REVENUE EBITDA EBITDA OP. EBITDA MARGIN MARGIN HOTEL ₹ 2,316 Crore ₹ 947 Crore 40.9% 39.4% SEGMENT ↑16% ↑ 23% ↑ 2.3 pp ↑ 2.1 pp AIR ₹ 275 Crore ₹ 74 Crore 26.7% 25.7% CATERING ↑18% ↑ 23% ↑ 1.0 pp ↑ 0.7 pp Healthy margin ex
Slide 6: Leading to Best Ever Q3 on All Metrics
Revenue & Profit …LEADING TO BEST EVER Q3 ON ALL METRICES ₹/ crores Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 IHCL Consol. FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17 FY16 FY15 Operating Revenue 2,533 1,964 1,686 1,111 560 1,373 1,323 1,197 1,132 1,162 1,207 Operating EBITDA 962 732 597 322 (17) 426 336 281
Slide 7: Strong Growth Outlook for Q4
STRONG GROWTH OUTLOOK FOR Q4 ON TRACK TO DELIVER GUIDANCE OF DOUBLE DIGIT REVENUE GROWTH Demand Large scale Events Continued Indian wedding Peak travel season 30% Foreign Tourist continues to & Concerts momentum of season continues in for spiritual concentrated in Q4 outpace supply facilitated by Do
Slide 8: Demand Continues to Outpace Supply
Demand DEMAND CONTINUES TO OUTPACE SUPPLY LIMITED ADDITION EXPECTED IN KEY CITIES 12% 6% 8% 2% Q3 Industry Data growth YoY Supply Demand ARR RevPAR (Room Nights available) (Room Nights sold) Data as per CoSTAR. Provisional data for Dec considered to compute Q3 numbers 5.4% 4.8% 5.2% 5.2% 4.9% 3.8% 4
Slide 9: Consistent RevPAR Growth Across Quarters
Demand CONSISTENT REVPAR GROWTH ACROSS QUARTERS Room Nights ARR RevPAR 22% 22% 15% 13% 14% 12% 13% 17% 8% 7% 4% Election 9% 11% Impact 9% 7% 7% 2% 5% 2% 3% 2% Q1 Q2 Q3 Q4 Q1 Q2 Q3 2023-24 2024-25 Data for domestic consol. Hotels on Like for Like(LFL) basis. LFL – excludes hotels opened after 1st Apr
Slide 10: Across Key Cities Primarily Led by ARR Growth
Demand ……& ACROSS KEY CITIES PRIMARILY LED BY ARR GROWTH Renovation at Taj Holiday IHCL Consol. (Domestic) Village, Goa completed in 37% 9% this Quarter 13% 23,300 25,800 2% Growth YoY 13% 23% 17,000 12% 17,900 13,500 13% 11,800 4% 9,900 26% 8,300 4,600 3,700 IHCL Consol Mumbai Delhi & NCR Bengaluru
Slide 11: Accelerated Pace of Growth YoY
Portfolio ACCELERATED PACE OF GROWTH YOY HIGHEST EVER SIGNINGS IN 9 MONTHS 53 55 14 360 Hotels Globally 36 34 237 Operational 29 14 22 20 333 Hotels in India 17 19 16 219 Operational 12 13 10 7 5 7 Present Across 160+ Locations, 30+ States FY18 FY19 FY20 FY21 FY22 FY23 FY24 9MFY25 & UTs Signing Open
Slide 12: Taj Cochin International Airport
Portfolio TAJ COCHIN INTERNATIONAL AIRPORT Strategically located at Cochin Airport : 8th Busiest Airport in India 111 keys, 2 Restaurants & 5,000 sq ft of Banqueting, Phase 1 operational Leased from Cochin International Airport Limited Operating at an ARR of > ₹ 10,000 (MTD) 12
Slide 13: New Business Higher Growth & Vast Potential
New Business NEW BUSINESS HIGHER GROWTH & VAST POTENTIAL Consol. Revenue Consol. EBITDAR 164 Ginger Mumbai Airport operated at >85% occupancy 73 and an 117 ARR ~ ₹ 6,750 in Q3 46 Margin Margin 40% 45% Ginger Consol. Revenue grew by 45% YoY backed by opening of Marquee properties Q3 FY24 Q3 FY25 Q3 F
Slide 14: Ginger Adding Marquee Properties in Prime Locations
New Business GINGER ADDING MARQUEE PROPERTIES IN PRIME LOCATIONS 56 Keys 262 Keys 45 Keys Ginger Chanakyapuri, Ginger Candolim, Ginger Diu, New Delhi Goa Jalandhar Beach 14
Slide 15: Qmin Expansion Through Strategic Alliances
New Business QMIN EXPANSION THROUGH STRATEGIC ALLIANCES Westside, Westside, Chennai & Kolkata Mumbai Bangalore Airport, TFS 15
Slide 16: amã Stays & Trails, Tree of Life
New Business amã STAYS & TRAILS , TREE OF LIFE EXPERIENTIAL STAY PROPOSITIONS 250 20 Portfolio Portfolio 119 17 Operational Operational New Opening New Opening 13 Cr Alpenhof, Coorg - Tree of Life Ramvilas, 8 Cr Enterprise Revenue amã Stays & Trails Bandhavgarh Enterprise Revenue 27% Growth YoY Tree
Slide 17: Management Fee Growth Driving Not Like for Like Revenue
Capital Light MANAGEMENT FEE GROWTH DRIVING NOT LIKE FOR LIKE REVENUE MANAGEMENT FEE NET UNIT GROWTH NET UNIT GROWTH Growth Managed Hotel Rooms amã Managed Bungalows Management Fee Other Fee ₹/ Crores 177 14,106 113 134 12,436 80 167 133 Q3 FY24 Q3 FY25 Dec-23 Dec-24 Dec-23 Dec-24 Adding to Capital
Slide 18: Re-imagined Chambers Strong Value Proposition
Strategy RE-IMAGINED CHAMBERS STRONG VALUE PROPOSITION ~ ₹ 100 Crs for YTD Dec 18% growth YoY 3,000+ Total Chambers Members RENOVATED CHAMBERS AT TAJ BENGAL, KOLKATA 18
Slide 19: Growth Playing Out Across All Brands
Strategy GROWTH PLAYING OUT ACROSS ALL BRANDS OVER THE YEARS IHCL Enterprise Growth Q3FY25 vs Q3FY20 Enterprise Revenue Revenue CAGR 13% 22% 11% 10% 23% EBITDA CAGR 18% 29% 20% 13% 31% 19
Slide 20: Financial Details
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Slide 21: Differentiated Strategy Enabling Diversification of Revenue
Strategy DIFFERENTIATED STRATEGY ENABLING DIVERSIFICATION OF REVENUE 9M FY24 9M FY25 7% 6% 9% 2% ₹ 5,000 crs ₹ 6,078 crs 6% 6% 86% Q3 FY24 78% ₹ 2,004 crs Traditional Business Re-imagined Business Management Fee New Business (Taj SATS & Chambers) Data for IHCL Consol. 21
Slide 22: Hotel Segment Revenue Secular Growth Across All Revenue Streams
Revenue & Profit HOTEL SEGMENT REVENUE SECULAR GROWTH ACROSS ALL REVENUE STREAMS Q3 Revenue ₹ Cr & Growth YoY IHCL CONSOL. STANDALONE F&B Revenue F&B Revenue 794 505 (+13%) Operating Room revenue (+10%) Operating Room revenue Revenue 1,140 Revenue 669 2,262 (+16%) 1,474 (+16%) (+15%) (+15%) Manageme
Slide 23: Operational Efficiencies Margin Expansion for Hotel Segment
Revenue & Profit OPERATIONAL EFFICIENCIES MARGIN EXPANSION FOR HOTEL SEGMENT ₹ Cr Variance YoY Raw Material Costs Payroll Costs Power Costs as % of F & B Revenue as % of Operating Revenue as % of Operating Revenue 21.8% 21.3% 23.9% 22.7% 3.7% 3.5% 10% 10% 10% 153 169 469 514 73 80 Q3 FY24 Q3 FY25 Q3
Slide 24: Strong Balance Sheet with Healthy Cash Reserves
Cash & Liquidity STRONG BALANCE SHEET WITH HEALTHY CASH RESERVES ₹ /crores 116 Free Cash Flow CY : ₹ 789 crores (Q1: ₹ 146 crs, Q2: ₹ 249 crs, Q3: ₹ 394 crs) 2206 PY : ₹ 743 crores (Q1: ₹ 47 crs, Q2: ₹ 219 crs, Q3: ₹ 477 crs) Cash Flow Conversion(1) 71% in 9MFY25 (1) Cash Flow conversion is Cash fro
Slide 25: Growth Guided by Our Strategy Accelerate 2030
GROWTH GUIDED BY OUR STRATEGY ACCELERATE 2030 MOST VALUED, VISION RESPONSIBLE & PROFITABLE HOSPITALITY ECOSYSTEM 2x+ EXCELLENCE REVENUE GROWTH IN OPERATIONS STRATEGIC INITIATIVES EVOLUTION OF BRANDSCAPE EXPANSION OF PORTFOLIO 700+ HOTEL PORTFOLIO HUMAN CAPITAL CUSTOMER CENTRICITY DIGITAL ENABLERS PA
Slide 26: Key Enablers
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Slide 27: Tata Neu Accelerated Member Base Driving Higher Loyalty
TATA NEU ACCELERATED MEMBER BASE DRIVING HIGHER LOYALTY Total Members Growth in Enterprise Revenue 8 MN 4X Grown by +27% 6 Mn 2 MN Vs YTD 24 Loyalty Led Revenue Pre-launch Till Date Apr ‘22 YTD ‘24 +32% Loyalty Led Revenue share Vs YTD 24 Points earning Revenue 40% 2X +40% Grown by 21% Vs YTD 24 190
Slide 28: Doing Business the Responsible Way
DOING BUSINESS THE RESPONSIBLE WAY Waste YTD FY 24/25 UPDATE 100% elimination of single-use plastic 396 Tons of Plastic Saved through Glass Bottles, Bio-degradable Bathroom Amenities, Paper Straws Waste 100% operating hotels will have an organic waste management system 61 hotels have bottling plants
Slide 29: Annexures
ANNEXURES & r - . 9 7 29 TA} SELEQTIONS GATEWAY VIVANTA GINGER TREEOFLIFE am& Simin We INCL
Slide 30: Consolidated P&L Q3 & 9MFY25
CONSOLIDATED P&L Q3 & 9MFY25 ₹ /crores Particulars Q3FY24 Q3FY25 Var % 9MFY24 9MFY25 Var % Revenue from Operations 1,964 2,533 29% 4,863 5,909 22% Non-Operating Revenue 40 59 47% 137 169 23% Total Revenue 2,004 2,592 29% 5,000 6,078 22% Total Expenditure 1,231 1,571 28% 3,366 3,997 19% EBITDA 772 1,
Slide 31: Consol Financials: Segment Details 9M FY25
Revenue & Profit CONSOL FINANCIALS : SEGMENT DETAILS 9M FY25 9M Revenue & Growth YoY REVENUE EBITDA EBITDA OP. EBITDA MARGIN MARGIN HOTEL ₹ 5,635 Crore ₹ 1,967 Crore 34.9% 33.0% SEGMENT ↑13% ↑ 20% ↑ 2.2 pp ↑ 2.2 pp AIR ₹ 443 Crore ₹115 Crore 25.9% 24.9% CATERING ↑18% ↑ 20% ↑ 0.5 pp ↑ 0.3 pp 31
Slide 32: Standalone P&L Q3 & 9MFY25
STANDALONE P&L Q3 & 9MFY25 ₹ /crores Particulars Q3FY24 Q3FY25 Var % 9MFY24 9MFY25 Var % Revenue from Operations 1,281 1,474 15% 3,064 3,440 12% Non-Operating Revenue 43 43 2% 143 174 22% Total Revenue 1,323 1,517 15% 3,207 3,614 13% Total Expenditure 722 792 10% 1,938 2,087 8% EBITDA 601 725 21% 1,
Slide 33: Performance of Key Legal Entities – Q3
PERFORMANCE OF KEY LEGAL ENTITIES – Q3 ₹ /crores Revenue EBITDA EBITDA MARGIN PAT Legal Entities Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 UOH Inc. – USA 217 261 17 35 7.7% 13.5% (4) 13 St. James Court – UK 126 128 38 34 30.3% 26.2% 13 11 PIEM Hotels Ltd. 163 187 54 67 32.9% 36.0% 29 3
Slide 34: Room Revenue Customer Segments & Channel Mix
ROOM REVENUE CUSTOMER SEGMENTS & CHANNEL MIX SEGMENT CONTRIBUTION % CHANNEL CONTRIBUTION % 9MFY24 9MFY25 9MFY24 9MFY25 Transient 57% 56% Hotel Reservation (HRO) 49% 48% Corporate 11% 12% Central Reservation (Call Centre) 7% 7% MICE 17% 16% Global Distribution System 5% 6% Long Stay 3% 3% Leisure 8%
Slide 35: Inventory Brandscape as on 31st December 2024
INVENTORY BRANDSCAPE AS ON 31st DECEMBER 2024 Operational Pipeline Total Brands Hotels (Rooms) Hotels (Rooms) Hotels (Rooms) 87 38 125 Taj 13,084 6,786 19,870 28 21 49 Vivanta 3,681 3,060 6,741 25 13 38 SeleQtions 1,964 1,406 3,370 72 30 102 Ginger 6,398 3,902 10,300 8 17 25 Gateway 590 2,310 2,900
Slide 36: Opening Schedule of Signed Pipeline
OPENING SCHEDULE OF SIGNED PIPELINE Beyond Total Signed Pipeline – IHCL & Group Q4FY25 FY26 FY27 FY27 Pipeline Taj - 233 - 479 712 Vivanta - 127 - - 127 Ginger 159 251 523 1,792 2,725 Total Owned Pipeline 159 611 523 2,271 3,564 Beyond Total Signed Pipeline - Managed Hotels Q4FY25 FY26 FY27 FY27 Pip
Slide 37: Hotels Opened in Q3FY25 & Planned for Q4FY25
HOTELS OPENED IN Q3FY25 & PLANNED FOR Q4FY25 Sl No Hotel Name (Opened in Q3) Brand Ownership Inventory 1 Taj Puri Taj Management Contracts 90 2 Taj Cochin Airport Taj Subsidiary 111 3 Yarkay, Thimphu - IHCL SeleQtions SeleQtions Management Contracts 83 4 La Estoria, Goa - IHCL SeleQtions SeleQtions
Slide 38: Disclaimer
DISCLAIMER These presentations may contain forward-looking statements within the meaning of applicable securities laws. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Forward-looking statements are not g
Slide 39: Continued Growth Momentum
Continued Growth Momentum GLOBAL CONFERENCE CALL Q3 FY25 17th January, 2025 39
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