Chalet Hotels’ revenue rises 21% to Rs 310 cr, ARR grows 38% to Rs 10,217

Chalet Hotels Limited announced the best ever revenue for the quarter ended June. While the total income rose 21 per cent to Rs 310 crore year-on-year (YoY), the hospitality revenue came in at Rs 280 crore, up 23 per cent YoY. 

The company’s Average Room Rate (ARR) stood at Rs 10,217, 38 per cent higher than in Q1FY23, and the adjusted hospitality EBITDA came in Rs 120 crore. 

Key Highlights for Q1FY24:

*Total Income at Rs 310 crore, up 21 per cent as compared to Q1FY23

*Adjusted EBITDA at Rs 130 crore, up 24 per cent as compared to Q1FY23

Hospitality Segment Performance:

*Revenue at Rs 280 crore, up 23 per cent from Q1FY23

*ARR at Rs 10,317, up 38 per cent over Q1FY23

*Occupancy was at 70 per cent

*Revenue generated per available room (RevPAR) improved by 24 per cent YoY to Rs 7,182

*Adjusted EBITDA was at Rs 120 crore, up 26 per cent from Q1FY23

Other Highlights:

*Nearly 68 per cent of the total electricity for hotel portfolio sourced from renewable resources in Q1FY24.

*Newly launched The Westin Hyderabad HITEC City completely sold out from day 1, operated by an all-women team and run on 100 per cent Green Power.