Chalet Hotels Ltd, a part of K. Raheja Corp group, which operates 11 hotels with 3,389 keys, is focusing on improving operating performance while expanding its portfolio through selective investments and new development opportunities.
The company is targeting higher occupancies, improved average room rates and stronger food and beverage revenues, while also seeking to grow its banquets and events business and enhance guest experiences.
Management comment
“Hospitality is fundamentally a long-term business. The assets we build today create value over decades. We therefore continue to invest with a long-term perspective, expanding our portfolio, upgrading existing properties and pursuing selective growth opportunities that complement our strategy,” Chairman Hetal Gandhi said in a letter to shareholders.
Focus on operating performance
The company’s hotel teams remain focused on driving occupancy, optimising room rates and food and beverage revenues, strengthening banquets and events, and maintaining cost discipline.
On the development side, Chalet Hotels is focused on delivering premium Grade-A hospitality assets on time and within budget.
During the year, the company entered into a memorandum of understanding for a warm-shell lease of a building at Madhapur in Hyderabad and acquired a resort property in Udaipur, Rajasthan.
Portfolio expansion underway
Chalet Hotels also added 129 rooms at Bengaluru Marriott Hotel Whitefield, among other initiatives, as it continues to expand and strengthen its portfolio.
The company said its portfolio of premium assets in strategic locations, robust balance sheet, operating partnerships and experienced leadership provide a strong foundation for its next phase of growth.
Growth backed by financial strength
As it moves ahead, Chalet Hotels will focus on operational excellence, prudent capital allocation, sustainability and innovation while pursuing opportunities that can create long-term value for shareholders.
“Our strategic priorities are clear: drive growth with intent, nurture our people-centric culture, and deepen our commitment to sustainability,” said MD & CEO, Shwetank Singh.
With a robust portfolio, diversified growth engines, strong development visibility and a very healthy balance sheet, Chalet Hotels remains well-positioned to capitalise on India’s long-term demand opportunity and create enduring value for all our stakeholders.