Chalet Hotels Q3 Results Review - Best Ever Quarterly Performance On Key Parameters: IDBI Capital

Chalet Hotels’ Q3 FY23 result was inline with our estimates on net sales, Ebitda front, while one off item boosted PAT.

<div class="paragraphs"><p>A hotel room. (Photo: Hans-Isaac/ Unsplash)</p></div>
A hotel room. (Photo: Hans-Isaac/ Unsplash)

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IDBI Capital Report

Chalet Hotels Ltd.’s Q3 FY23 result was in-line with our estimates on net sales and Ebitda front, while one off item boosted profit after tax, which was higher than our forecast.

The company reported the best ever operational performance on average daily room rate front which came in at Rs 10,168. Higher occupancy and improved average daily room rate led to 18% sequential growth in revenue per available room at Rs 6,640.

Net sales increased by 76.5%YoY to Rs 2,897 million, while Ebitda came in at Rs 1,135 million, higher by 180.7% YoY. Chalet Hotels reported net profit of Rs 1,024 million compared to net loss of Rs 147 million in Q3 FY22.

Our interaction with the management suggests that Chalet’s inventory addition plan is on track and would be operational in upcoming quarters. We have introduced FY25E in this report and assign 20 times enterprise value/Ebitda on FY25E.

Click on the attachment to read the full report:

IDBI Capital Chalet Hotesl Q3FY23 Results Review.pdf


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