Orient Hotels posted good numbers for Q1FY23ORIENTHOT - 115 Change: 12.10 (11.76 %)
News: Orient Hotels reported best ever performance with QoQ revenue growth of 34% to Rs88.6 crore (up 259% YoY). With 28% EBITDA margin the company reported highest ever net profit of Rs10 crore for the quarter. Occupancy and ARR both have exceeded pre-covid levels by 15% and 30% respectively.
Views: The current performance reflect the strong rebound in demand from business destinations with company deriving majority revenues from Chennai. Now with the re-opening doors for foreign tourists, we expect the performance of hotels at key metro cities to improve further going forward.