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Revenue
₹558 Cr
verified against source
Revenue YoY
6%
reported change
EBITDA
₹278.6 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Chalet Hotels reported Q4 FY26 consolidated revenue of ₹571.1 crore (+6% YoY) and EBITDA of ₹278.6 crore (+8% YoY), with EBITDA margin expanding 100 bps to 48.8%. Ex-residential, revenue grew 6% to ₹576 crore and EBITDA margin improved 13 bps to 49.1%. Hospitality RevPAR declined 3% YoY due to a 7.7% occupancy drop, driven by Mumbai headwinds (municipal elections, weak January base) and geopolitical tensions causing ~9,000 lost room nights from foreign travelers in March. Commercial real estate maintained strong momentum with 83% occupancy and ₹280 million monthly rental run-rate. Management guided for a recovery in H2 FY27 as geopolitical tensions ease, with leisure assets (Aiva Kandala, Rishikesh) ramping up. Key risk: prolonged West Asia crisis could further suppress international business travel and delay occupancy recovery.
Colored figures show movement against the previous available record.
Guidance to track
- Planned capex for hospitality and CRE portfolio, largely funded through internal accruals.
- Commercial real estate monthly rentals expected to scale up to ₹300 million during FY27.
- Leisure segment EBITDA margins expected to improve to at least mid-40% as assets stabilize.
- Launch of 70 rooms at Taj Delhi International Airport by Q4 FY27, with balance inventory phased.
Risks flagged
- Continued tensions could further suppress international business travel, impacting occupancy and RevPAR.
- Mumbai's weak demand due to elections and lack of events may persist, affecting high-contribution portfolio.
- West Asia crisis has put pressure on labor availability, potentially delaying Signess 2 completion.
- Analyst raised concern that domestic corporate travel could be cut if companies shift to virtual meetings; management downplayed but acknowledged risk.
Key quotes
- We lost almost 9,000 room nights from foreign tourist arrivals and some attached business from the domestic side.
- This is not a capital decision for us. We are trying out a project level partnership something that we have not tried before.
- Our balance sheet continues to provide adequate headroom and financial flexibility to pursue strategic opportunities as they arise.
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