Chalet Hotels achieves best-ever Q2 revenue, unveils new Goa beachfront project – ET TravelWorld

Chalet Hotels Limited has announced its financial results for the second quarter of FY25, ending September 30, 2024, reporting a record Q2 revenue. Total income for the quarter stood at INR 3.8 billion, marking a 20 per cent increase compared to the same period last year. Total EBITDA also saw a 20 per cent rise, reaching INR 1.6 billion.

The hospitality segment showed significant growth with revenue at INR 3.3 billion, an 18 per cent increase year-over-year. The Average Daily Rate (ADR) rose to INR 10,532, reflecting a 10 per cent improvement, while occupancy rates reached 74 per cent. The RevPAR (Revenue per Available Room) increased by 10 per cent to INR 7,756, and EBITDA for the segment grew by 18 per cent to INR 1.4 billion.

During the quarter, Chalet Hotels acquired an 11-acre beachfront property in Varca, Goa, with plans to develop a 170-room upscale hotel. This acquisition aligns with the company’s ongoing strategy to expand its footprint and enhance its portfolio.

The consolidated performance for Q2FY25 shows a 20 per cent year-on-year increase in total income, which reached INR 3.8 billion. EBITDA stood at INR 1.6 billion, maintaining a stable margin of over 40 per cent. Profit before tax (PBT) was recorded at INR 794 million, representing a 79 per cent increase from the previous year. However, profit after tax (PAT) saw a decline due to a one-time non-cash impact caused by changes in long-term capital gains indexation under the Finance (No. 2) Act, 2024.Looking ahead, the company shared updates on its development pipeline. Key projects include the expansion of the Bengaluru Marriott Hotel Whitefield, expected to add 125-130 rooms in Q3 FY25, and the completion of renovations at The Dukes Retreat by Q4 FY25. Other significant developments, such as the Taj at Delhi’s T3 Terminal and the Hyatt Regency at Airoli, Navi Mumbai, are slated for completion in FY27.

Commenting on the results, Sanjay Sethi, MD & CEO, Chalet Hotels Limited, expressed optimism about the company’s growth trajectory. He noted that the strong performance was driven by positive momentum in room rates and operational excellence. Sethi also highlighted the potential of the new Goa beachfront project, which is expected to bring significant transformation over the next few years. As Chalet enters the second half of the fiscal year, it remains confident in sustaining growth and maximizing returns across its diverse portfolio.