Latest news with #TheWestinResortandSpa
&w=3840&q=100)
Business Standard
14-05-2025
- Business
- Business Standard
New properties and office leasing to drive growth for Chalet Hotels
Chalet Hotels expects margin growth from recent hotel additions and office leasing. The company has added properties like The Westin Resort and Spa, Himalayas, and Courtyard by Marriott in Aravali, among others. 'There is a lot happening because some of the assets that we have added in the last few quarters are still maturing, as they mature, the margins will improve in those assets (the above-mentioned properties),' Sanjay Sethi, managing director and chief executive officer, Chalet Hotels, told Business Standard. He further added that as the company continues to lease more office spaces and the maturing of newly added properties will help the company improve its margins and further strengthen its business in Q1FY26 and Q2FY26, which are generally considered slow quarters for the industry. The hotel company has around 640 rooms in its pipeline and approximately 1,250 rooms under approval. All future expansion plans will be funded primarily through internal accruals, Sethi added. 'I expect occupancy to grow by 100-200 basis points in FY26, Currently, our portfolio's occupancy is around 76 per cent,' Sethi said. He also anticipates the RevPAR (Revenue per Available Room) to see double-digit growth, with the industry overtaking 2024 level in room rates, which was the highest in the Indian hospitality industry. Chalet Hotels reported a 50.2 per cent rise in consolidated net profit to ₹123.9 crore in Q4FY25 compared to the last quarter. Sethi noted that the current geopolitical situation between India and Pakistan has resulted in a temporary dip in bookings across the country due to the decline in foreign tourist inflows. May's monthly performance is below expectations, but he emphasised that it is still higher than last year. He anticipates stability in booking patterns across India by June. The company has about 70 per cent of its office spaces leased out across India and office rentals contribute about 13 to 14 per cent of its overall revenue and the rest from the hospitality business. Mumbai remains the highest contributor for revenue with two prime properties, JW Marriott, Sahar and Westin and Marriott Executive Apartments, Powai. After Mumbai, Hyderabad and Bengaluru hotel properties contribute the most to the company. The company's net sales rose 24.8 per cent to ₹522 crore in Q4FY25 on a year-on-year basis (Y-o-Y), while PBIDT jumped 35.9 per cent to ₹256.9 crore in the January-March quarter on a Y-o-Y basis. Mumbai remains the highest contributor to revenue, followed by Hyderabad and Bengaluru.
&w=3840&q=100)
Business Standard
13-05-2025
- Business
- Business Standard
Recently added hotel assets, office leasing to boost Chalet's margins
Chalet Hotels expects margin growth from recent hotel additions and office leasing. The company has added properties like The Westin Resort and Spa, Himalayas, and Courtyard by Marriott in Aravali, among others. 'There is a lot happening because some of the assets that we have added in the last few quarters are still maturing, as they mature, the margins will improve in those assets (the above-mentioned properties),' Sanjay Sethi, managing director and chief executive officer, Chalet Hotels, told Business Standard. He further added that as the company continues to lease more office spaces and the maturing of newly added properties will help the company improve its margins and further strengthen its business in Q1FY26 and Q2FY26, which are generally considered slow quarters for the industry. The hotel company has around 640 rooms in its pipeline and approximately 1,250 rooms under approval. All future expansion plans will be funded primarily through internal accruals, Sethi added. 'I expect occupancy to grow by 100-200 basis points in FY26, Currently, our portfolio's occupancy is around 76 per cent,' Sethi said. He also anticipates the RevPAR (Revenue per Available Room) to see double-digit growth, with the industry overtaking 2024 level in room rates, which was the highest in the Indian hospitality industry. Chalet Hotels reported a 50.2 per cent rise in consolidated net profit to ₹123.9 crore in Q4FY25 compared to the last quarter. Sethi noted that the current geopolitical situation between India and Pakistan has resulted in a temporary dip in bookings across the country due to the decline in foreign tourist inflows. May's monthly performance is below expectations, but he emphasised that it is still higher than last year. He anticipates stability in booking patterns across India by June. The company has about 70 per cent of its office spaces leased out across India and office rentals contribute about 13 to 14 per cent of its overall revenue and the rest from the hospitality business. Mumbai remains the highest contributor for revenue with two prime properties, JW Marriott, Sahar and Westin and Marriott Executive Apartments, Powai. After Mumbai, Hyderabad and Bengaluru hotel properties contribute the most to the company. The company's net sales rose 24.8 per cent to ₹522 crore in Q4FY25 on a year-on-year basis (Y-o-Y), while PBIDT jumped 35.9 per cent to ₹256.9 crore in the January-March quarter on a Y-o-Y basis. Mumbai remains the highest contributor to revenue, followed by Hyderabad and Bengaluru.
