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Chalet Hotels Results: Latest Quarterly Results & Analysis

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Chalet Hotels Ltd. 30 Jul 2026 11:17 AM
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Q1FY27 Quarterly Result Announced for Chalet Hotels Ltd.

Hotels company Chalet Hotels announced Q1FY27 results

Consolidated Financial Highlights:

  • Consolidated Revenue from operations for Q1FY27 stood at Rs 5,122.73 million, reflecting a YoY decline of 42.73% from Rs 8,945.51 million in Q1FY26 and a QoQ decline of 8.23% from Rs 5,582.17 million in Q4FY26. For the full year FY26, the revenue was Rs 27,697.53 million.
  • The group reported a Total Income of Rs 5,213.14 million for Q1FY27, compared to Rs 9,083.38 million in Q1FY26 (down 42.61% YoY) and Rs 5,710.55 million in Q4FY26 (down 8.71% QoQ).
  • Consolidated EBITDA (before exceptional items) for Q1FY27 was Rs 2,430.58 million, marking a decline of 34.49% YoY from Rs 3,710.65 million in Q1FY26 and a decrease of 12.77% QoQ from Rs 2,786.32 million in Q4FY26.
  • Profit before tax for Q1FY27 was Rs 1,325.31 million, showing a YoY decrease of 50.66% from Rs 2,686.12 million in Q1FY26 and a QoQ decrease of 25.49% from Rs 1,778.60 million in Q4FY26.
  • Consolidated Net Profit for the period Q1FY27 reached Rs 861.25 million, representing a YoY decline of 57.60% from Rs 2,031.28 million in Q1FY26 and a QoQ decline of 47.16% from Rs 1,630.02 million in Q4FY26. For the full year FY26, the Net Profit stood at Rs 6,450.17 million.
  • Total comprehensive income for Q1FY27 was Rs 862.13 million, compared to Rs 2,030.61 million in Q1FY26 (down 57.54% YoY) and Rs 1,630.63 million in Q4FY26 (down 47.13% QoQ).

Standalone Financial Highlights:

  • Standalone Revenue from operations for Q1FY27 was Rs 4,482.13 million, showing a YoY decline of 47.32% from Rs 8,507.68 million in Q1FY26 and a QoQ decline of 10.07% from Rs 4,983.80 million in Q4FY26.
  • Total Standalone Income for Q1FY27 stood at Rs 4,661.00 million, a decrease of 46.40% YoY from Rs 8,696.09 million in Q1FY26 and a decrease of 9.97% QoQ from Rs 5,177.01 million in Q4FY26.
  • Standalone Net Profit for Q1FY27 was Rs 867.34 million, reflecting a YoY decline of 57.60% from Rs 2,045.39 million in Q1FY26 and a QoQ decline of 48.01% from Rs 1,668.21 million in Q4FY26.
  • Standalone Total comprehensive income for Q1FY27 was Rs 867.72 million, compared to Rs 2,044.13 million in Q1FY26 and Rs 1,668.00 million in Q4FY26.

Business Highlights:

  • Segment-wise Performance:
    • Hospitality (Hotels): Revenue for Q1FY27 was Rs 4,185.32 million, showing a YoY growth of 8.54% from Rs 3,855.97 million in Q1FY26. Segment profit before tax and interest stood at Rs 1,224.90 million.
    • Real Estate: Revenue for Q1FY27 was Rs 72.93 million, significantly lower by 98.34% YoY from Rs 4,391.17 million in Q1FY26. Segment profit before tax and interest was Rs 30.20 million.
    • Rental / Annuity Business: Revenue for Q1FY27 was Rs 864.81 million, an increase of 18.15% YoY from Rs 731.95 million in Q1FY26. Segment profit before tax and interest stood at Rs 579.40 million.
  • Acquisition: On May 5, 2026, the Holding Company acquired 100% of the shareholding of Seasons Hotels Private Limited ("SHPL") for a consideration of Rs 1,710 million.
  • Exceptional Item: During Q1FY27, the company recognized an exceptional item of Rs 98.49 million, pertaining to a voluntary separation scheme (VSS) introduced at one of its Hotel Units.
  • Legal Matter Regularization: On May 26, 2026, the Supreme Court of India set aside the Bombay High Court's order for demolition and ordered that the allotment of land at Vashi (Four Points By Sheraton) shall stand regularized, subject to payment of the stipulated amount.
  • Renewable Energy Investment: As of June 30, 2026, the Group has invested Rs 107.73 million in companies engaged in the generation of hydro and solar power to secure the supply of renewable energy.
  • Change in Statutory Auditors: The Board has approved the appointment of M/s. Deloitte Haskins & Sells Chartered Accountants LLP as the Statutory Auditors for a term of five consecutive financial years, starting from the conclusion of the AGM for FY27.

Shwetank Singh, MD & CEO, Chalet Hotels, said: "Q1 has set a strong foundation for the full year – overall performance has been resilient despite the challenging geopolitical situation. The demand scenario saw mixed sentiment this quarter – air traffic stayed flat from April to June – indicating some recovery in sentiment following the peak disruption in March. International business remained flat YoY due to the West Asia conflict. The recovery is being fuelled by domestic demand, indicating that overall demand will accelerate as business travel sentiment improves going ahead.

Our consolidated financials are not comparable YoY due to the revenue recognition trend in the Residential business. Our core businesses – Hospitality and Annuity – have witnessed strong momentum, underscoring the strength of our business model. Ex-Residential revenue grew 10% YoY, with margin expansion driving a 15% YoY growth in EBITDA. With two major projects – Taj Delhi International Airport, New Delhi; and CIGNUS II, Powai – nearing completion, the current fiscal looks promising.

The domestic hospitality industry continues to enjoy favourable tailwinds, underpinned by strong consumption fundamentals, rising discretionary spending, and growing urban affluence. With our robust operating portfolio and visibility into our future growth pipeline, we remain confident in our ability to capitalise on this long-term growth opportunity."

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Hotels company Chalet Hotels announced Q4FY26 & FY26 results

Q4FY26 Financial Highlights:

  • Total Income (ex-Resi) at Rs 5.7 billion, up 6% as compared to Q4FY25
  • Consolidated EBITDA (ex-Resi) at Rs 2.8 billion up 6% as compared to Q4FY25
  • EBITDA Margin (ex-Resi) at 49.1%, up 15 bps as compared to Q4FY25
  • Consolidated PAT at Rs 1.6 billion
  • PBT Stood at Rs1.7 billion
  • Hospitality Segment Performance:
    • Revenue at Rs 4.7 billion up by 3% from Q4FY25
    • ARR at Rs 15,456, up by 8% over Q4FY25
    • Occupancy was at 68%, lower by 7.7 pp over Q4FY25
    • RevPAR reduced by 3% YoY to Rs 10,544
    • EBITDA stood at Rs 2.2 billion with margins of 47.4%
  • Commercial Real Estate (Rental/Annuity) Performance:
    • Revenue at Rs 847 MN up by 37% from Q4FY25
    • EBITDA was at Rs 708 MN, up by 42% over Q4FY25 with margins of 83.6%.

FY26 Financial Highlights:

  • Consolidated Revenue (ex-Resi) at Rs 20.7 billion up 18% YoY
  • ARR at Rs 13,727, up by 13% YoY; RevPAR at Rs 9,226, up by 5% YoY
  • Consolidated EBITDA (ex-Resi) at Rs 9.6 billion up by 21%, with Margin at 46.2%
  • Consolidated PAT at Rs 6.5 billion

Business Highlights:

  • Total portfolio crossed 5,000 keys including 7 projects in pipeline with ~1,655 keys; reflecting a strong expansion strategy with two significant additions during the quarter:
    • 330 keys luxury hotel at Hyderabad (Greenfield)
    • ~144 keys premium resort at Udaipur (Brownfield)
  • S&P Global Corporate Sustainability Assessment (CSA) has an overall score of 82 across all three dimensions of ESG (Dated: 27/02/2026) and ranked 2nd globally in the Hotels, Resorts & Cruise Lines category.
  • Commercial real estate: Exit rental income run rate reached INE 280 MN.
  • Certified as a Great Place To Work for the seventh year in a row.

Shwetank Singh, MD & CEO, Chalet Hotels said, "Despite a year shaped by geopolitical volatility, aviation sector disruptions and extreme weather events, Chalet Hotels delivered a resilient operational and financial performance in FY26, underscoring the strength of its diversified business model and premium portfolio. The Company sustained strong pricing-led growth, driving healthy RevPAR expansion growth across key markets. Our commercial real estate portfolio also maintained strong momentum, with rental income continuing to scale steadily through the year. We further strengthened our long-term growth pipeline through strategic expansion into Hyderabad and Udaipur and also achieved significant milestones in our residential business. Backed by a robust portfolio, diversified growth engines and strong development visibility, the Company remains well positioned to capitalise on India’s long-term demand opportunity."

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Hotels company Chalet Hotels announced Q3FY26 results

  • Revenue: Rs 5,892 million against Rs 4,645 million during Q3FY25, change 27%.
  • EBITDA: Rs 2,726 million against Rs 2,114 million during Q3FY25, change 29%.
  • EBITDA Margin: 46.3% for Q3FY26.
  • PBT: Rs 1,672 million against Rs 1,184 million during Q3FY25, change 41%.
  • PAT: Rs 1,241 million against Rs 965 million during Q3FY25, change 29%.
  • EPS: Rs 5.67 for Q3FY26.

Shwetank Singh, MD & CEO, Chalet Hotels, said: “Q3 saw strong traction across key operating metrics, with healthy growth in revenue and EBITDA, supported by double-digit RevPAR expansion. Athiva has shown early momentum and has started contributing to our portfolio performance. The onset of the festive and wedding season, saw sustained demand from MICE and leisure travel which effectively translates to revenue growth. We remain confident of maintaining operating momentum in the coming quarters.”

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Hotels company Chalet Hotels announced Q1FY26 results

  • Total Income: Rs 9,083 million compared to Rs 3,691 million during Q1FY25, change 146%.
  • EBITDA: Rs 3,711 million compared to Rs 1,483 million during Q1FY25, change 150%.
  • EBITDA Margin: 40.9% for Q1FY26.
  • PBT: Rs 2,686 million compared to Rs 777 million during Q1FY25, change 246%.
  • PAT: Rs 2,031 million compared to Rs 606 million during Q1FY25, change 235%.

Sanjay Sethi, MD & CEO, Chalet Hotels, said: “Despite the geopolitical headwinds across India and West Asia, we’ve once again delivered a strong quarterly performance — a reflection of our team’s unwavering commitment to disciplined execution, guest-centricity, and long-term value creation. I’m immensely proud of how Chalet Hotels continues to demonstrate both resilience and purpose in an ever-evolving environment.

Over the past two years, we’ve also been thoughtfully preparing for the future of leadership at Chalet. In alignment with a well-crafted succession plan developed in collaboration with the Board, I had communicated my intent not to seek an extension of my current term, which concludes on January 31, 2026. It gives me great pleasure to share that Mr. Shwetank Singh will take over as Managing Director & CEO effective February 1, 2026.

This transition is the outcome of a meticulous and collaborative process aimed at preserving our strategic direction while infusing fresh perspective and energy. I look forward to working closely with Shwetank over the coming months to ensure a seamless handover and continued momentum for the organisation and its people.”

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Hotels company Chalet Hotels announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Income at Rs 5.4 billion, up 27% as compared to Q4FY24.
  • Consolidated EBITDA at Rs 2.6 billion up 36% as compared to Q4FY24, Margin at 47.8%.
  • Consolidated PAT at Rs 1.2 billion.
  • Hospitality Segment Performance:
    • Revenue at Rs 4.6 billion up by 20% from Q4FY24.
    • ARR at Rs 14,345, up by 21% over Q4FY24.
    • Same store ARR at Rs 14,158, up by 19% over Q4FY24.
    • Occupancy was at 76%, expansion of 30 bps over Q4FY24.
    • RevPAR improved by 21% YoY to Rs 10,909.
    • EBITDA stood at Rs 2.2 billion, up by 22% over Q4FY24 with margins of 47.8%.
  • Commercial Real Estate (Rental/Annuity) Performance:
    • Revenue at Rs 619 MN up by 75% from Q4FY24.
    • EBITDA was at Rs 498 MN, up by 83% over Q4FY24 with margins of 80.4%.

FY25 Financial Highlights:

  • For the financial year FY2025.
    • Consolidated Revenue at Rs 17.5 billion up 22%.
    • ARR at Rs 12,094, up by 13% YoY.
    • Consolidated EBITDA at Rs 7.7 billion up by 28%, with Margin at 44.0%.
    • Consolidated PAT at Rs 1.4 billion.

Sanjay Sethi, MD & CEO, Chalet Hotels, said: “This year we achieved a significant milestone Rs 15 billion in revenue from the Hospitality business with a strong 45% EBITDA margin, one of the highest in the industry, driven by the team’s robust execution and operational excellence. Our entry into Goa and Rishikesh reflects our strategy of strengthening our portfolio and diversifying our customer mix. For the year ahead, we aim to drive strong revenue growth whilst deepening our operational efficiencies, maintaining a sharp focus on executing our expansion pipeline. We are equally excited to work on the acquisition of the new land parcel in North Goa.”

Result PDF

Hotels company Chalet Hotels announced Q3FY25 results

  • Total Income at Rs 4.6 billion, up 22% as compared to Q3FY24
  • Total EBITDA at Rs 2.1 billion, up 23% as compared to Q3FY24
  • Hospitality Segment Performance:
    • Revenue at Rs 4.0 billion, up by 17% from Q3FY24
    • ADR at Rs 12,944, up by 18% over Q3FY24
    • Occupancy was at 70%
    • RevPAR improved by 16% YoY to Rs 9,090
    • EBITDA was at Rs 1.8 billion up by 16% from Q3FY24

Sanjay Sethi, MD & CEO, Chalet Hotels Limited says, “Our strongest ever quarterly performance, reflects our relentless pursuit for excellence. We continue to invest in value accretive growth, fostering innovation and sustainable progress. Being recognised as a Great Place to Work for the sixth consecutive year further solidifies our position as a modern leader, delivering outstanding value to all stakeholders.”

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Hotels company Chalet Hotels announced Q2FY25 results

Financial Highlights:

  • Total Income at Rs 3.8 billion, up 20% as compared to Q2FY24.
  • Total EBITDA at Rs 1.6 billion, up 20% as compared to Q2FY24.
  • Hospitality Segment Performance:
    • Revenue at Rs 3.3 billion, up by 18% from Q2FY24.
    • ARR at Rs 10,532, up by 10% over Q2FY24.
    • Occupancy was at 74% o RevPAR improved by 10% YoY to Rs 7,756.
    • EBITDA was at Rs 1.4 billion up by 18% from Q2FY24.

Other Highlights:

  • Chalet Hotels have been recognized for its work in ESG.
    • Won the KPMG ESG Excellence Award 2024 in Mid-cap/Small-cap Companies.
    • Chalet continues to be ‘India’s Best Workplaces for Women’ 2024 by Great Place To Work.
  • Acquired 11-acres beachfront land in the pristine white sand beaches of Varca Goa with a development potential of ~170 upper upscale rooms.

Sanjay Sethi, MD & CEO, Chalet Hotels said: "We are pleased to report another outstanding quarter of growth, driven by positive momentum in room rates and backed by strong EBITDA margins, an indication that our strategic initiatives and efforts to drive operational excellence are paying off. Our upcoming 11-acre beachfront development in Goa is set to transform the region over the next three years. As we enter the second half of the year, we are confident in maintaining this upward trajectory to maximise returns across our diverse portfolio."

Result PDF

Hotels company Chalet Hotels announced Q1FY25 results:

Financial Highlights:

  • Total Income at Rs 3.7 billion, up 17% as compared to Q1FY24
  • Total EBITDA at Rs 1.5 billion, up 31% as compared to Q1FY24
  • Hospitality Segment Performance:
    • Revenue at Rs 3.3 billion, up by 15% from Q1FY24
    • ARR at Rs 10,446, up by 1% over Q1FY24
    • Occupancy was at 70%
    • RevPAR improved by 2% YoY to Rs 7,361
    • EBITDA was at Rs 1.3 billion, up by 18% from Q1FY24

Other Highlights:

  • CHL announced its commitment on World Environment Day to achieving Net-Zero Greenhouse Gas (GHG) Emissions by 2040, aligning with the Paris Agreement's goal to limit global temperature rise to 1.5°C.
  • Hotel inventory expansion at Bengaluru Marriott Hotel Whitefield (~125-130 rooms) and The Dukes Retreat Lonavala (65 rooms) running as per schedule for completion in Q3FY25
  • ‘Taj’, New Delhi Airport (385-390 rooms) and ‘Hyatt Regency’, Airoli, Navi Mumbai (~280 rooms) are scheduled for completion in FY26 & FY27 respectively
  • CIGNUS POWAI Tower II - Completion by FY27

Speaking on the financial results, Sanjay Sethi, MD & CEO, Chalet Hotels, ‘The performance of Q1FY25 is testimony to our growth-based strategy. In a quarter that witnessed the unique challenge of elections in the world’s largest democracy, the best ever Q1 in our company’s history, was driven through a mix of capacity growth as well as operating efficiencies. Our operating performance reflected diligent management and is expected to further strengthen on the back of industry tailwinds fueled by favourable demand-supply arbitrage.’

 

Result PDF

Hotels company Chalet Hotels announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total Income at Rs 4.2 billion, up 23% as compared to Q4FY23
  • Consolidated EBITDA at Rs 1.9 billion up 18% as compared to Q4FY23, Margin at 44.5%
  • Consolidated PAT at Rs 0.8 billion
  • Hospitality Segment Performance:
    •  Revenue at Rs 3.8 billion up by 24% from Q4FY23
    •  ARR at Rs 11,862, up by 5% over Q4FY23
    •  Same store ARR at Rs 12,159, up by 8% over Q4FY23
    •  Occupancy was at 76%, expansion of 2 percentage points over Q4FY23
    •  RevPAR improved by 7% YoY to Rs 8,984
    •  EBITDA was at Rs 1.8 billion, up by 24% from Q4FY23 with margins of 47.8%.

FY24 Financial Highlights:

  • Consolidated Revenue at Rs 14.4 billion up 22%
  • ARR at Rs 10,718, up by 17% YoY
  • Consolidated EBITDA at Rs 6.0 billion up by 20%, with Margin at 42.1%
  • Consolidated PAT at Rs 2.8 billion
  • The company has successfully raised Rs 10 billion through Qualified Institutional Placement (QIP), the process concluded on April 03, 2024. The funds have been used to pare down debt.
  • Acquired Courtyard by Marriott Aravalli with an EV of Rs 3.15 billion.

Speaking on the above, Sanjay Sethi, MD & CEO, Chalet Hotels Limited, “I am very pleased with the consecutive record quarters of operating performances at Chalet. Historically, Chalet has followed the path of high capital productivity through an optimal leverage in its balance sheet. This strength, along with exciting portfolio & pipeline growth, a successful capital raise and with our ability to deliver high returns, reiterates our commitment to our stakeholders. The team also continued to deliver strong progress on our ESG plans.”

Result PDF

Chalet Hotels announced Q3FY24 results:

Financial Highlights

  • Total Income: Rs 3.8 billion, an increase of 18% compared to Q3FY23.
  • EBITDA: Rs 1.7 billion, marking an 18% rise from Q3FY23 with an EBITDA Margin of 45%.
  • Consolidated PAT: Achieved at Rs 706 million.
  • EPS: Reported at 3.44, compared to 4.99 in Q3FY23 (not annualised).

Hospitality Segment Performance

  • Hospitality Revenue: Touched the highest at Rs 3.4 billion, up by 29% YoY.
  • RevPAR: Increased by 18% YoY to Rs 7,838.
  • Hospitality EBITDA Margin: Improved by 5 percentage points to 46.3%.

Development & ESG Highlights

  • Hotel Inventory Expansion: Projects at Marriott Bengaluru with approximately 130 rooms and The Dukes Retreat, Lonavala with about 70 rooms.
  • New Hotel Projects: Being developed at The Taj, New Delhi Airport with ~390 rooms, and Hyatt Regency, Airoli, Mumbai with ~280 rooms.
  • LEED Gold Certification: The Westin Hyderabad HITEC City received the USGBC LEED GOLD in December 2023 under LEED V4 BDC: Hospitality.

Segmental Performance (Q3FY24)

  • Occupancy Rate: Improved to 71%.
  • Average Room Rate (ARR): Rs 10,974, up by 8% from Q3FY23.
  • Same Store ARR: Reached Rs 11,253, up by 11% over Q3FY23.

Fundraising and Use of Proceeds

  • The board approved a fundraising plan of up to Rs 20 billion through the issuance of equity shares or other convertible instruments, subject to shareholder approval, to pare down debt, fuel growth, and for general corporate purposes.

Sanjay Sethi, MD & CEO, Chalet Hotels: "We are pleased to record another strong quarter with the highest-ever revenue and EBITDA. With a strong pipeline for expansion, healthy operating performances, and a team that continues to excel, we remain excited about the foreseeable future for our company."

 

 

 

Result PDF

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