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New hotel supply in Mumbai airport belt
View Risks →Chalet Hotels Limited — Q2 FY26
Chalet Hotels reported a strong Q2 FY26 with consolidated revenue surging 94% YoY to ₹740 crore, driven by residential project revenue recognition of ₹280 crore.
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high
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Chalet Hotels reported a strong Q2 FY26 with consolidated revenue surging 94% YoY to ₹740 crore, driven by residential project revenue recognition of ₹280 crore. Excluding residential, core hospitality and commercial revenue grew 20% YoY, with EBITDA up 25% and margins expanding 144 bps to 43.4%. Hospitality revenue rose 13% YoY to ₹380 crore, supported by 16% ARR growth to ₹12,170, though occupancy dipped 7pp to 67% due to weather disruptions and new room ramp-up. Commercial real estate revenue jumped 76% to ₹73.8 crore with 82.3% EBITDA margins. Management guided for a strong H2, citing festive season, weddings, and MICE demand. The launch of the Aiva brand marks a strategic evolution, with six properties identified for transition. Risks include new supply in Mumbai's airport belt impacting occupancy and potential delays in Goa project approvals.
चैलेट होटल्स ने दूसरी तिमाही में शानदार प्रदर्शन किया। कुल कमाई 94% बढ़कर ₹740 करोड़ हो गई, जिसमें ₹280 करोड़ घरों की बिक्री से आए। घरों को छोड़कर, होटल और दफ्तरों की कमाई 20% बढ़ी। मुनाफा 25% बढ़ा और मार्जिन 43.4% हो गया। होटलों की कमाई 13% बढ़कर ₹380 करोड़ हुई, क्योंकि कमरे के किराए 16% बढ़कर ₹12,170 हो गए। हालांकि, मौसम और नए कमरों के कारण कब्जा 67% रहा। दफ्तरों की कमाई 76% बढ़कर ₹73.8 करोड़ हुई। कंपनी को त्योहारों और शादियों से अच्छी उम्मीद है। नए 'आइवा' ब्रांड से छह होटलों को जोड़ा जाएगा। मुंबई में नए होटल और गोवा में देरी से जोखिम है।
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Read Transcript →Quarter Snapshot
Occupancy
67%
-7pp YoY
Overall occupancy fell due to weather disruptions and ramp-up of 166 new rooms.
Average Room Rate (ARR)
₹12,170
+16% YoY
Strong rate growth driven by Bangalore and Hyderabad markets.
Commercial Real Estate Monthly Rent Run-rate
₹24.5 crore
+76% YoY
Exit run-rate for September; target of ₹30 crore per month by March 2026.
Residential Units Sold (Cumulative)
314 units
98% of total inventory
Out of 321 total units; 7 units sold in Q2 at avg ₹21,300/sq ft.
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Guidance and risk preview
Management expects to achieve ₹30 crore per month rental run-rate by end of FY26, up from current ₹24.5 crore.
Addition of ~1,000 rooms in Sahar area has impacted banquet business and may pressure occupancy and rates at JW Marriott Sahar.
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