Enclosed
CHALET · price
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Chalet Hotels reported FY26 revenue of ₹28,124 million (60% YoY) with EBITDA of ₹12,301 million (59% YoY). Excluding residential business, revenue grew 18% to ₹20,741 million and EBITDA rose 21% to ₹9,573 million with margin expanding 97 bps to 46.2%. Q4 FY26 showed solid 6% revenue growth to ₹5,706 million and 8% EBITDA growth to ₹2,800 million with 49.1% margin. The company acquired Inder Residency Resort & Spa in Udaipur for ₹1,710 million (144 keys) and announced a 330-key Ritz Carlton in Hyderabad on warm-shell lease basis. Portfolio now totals over 5,000 keys including 7 pipeline projects with ~1,655 keys. ADR increased 8% YoY to ₹13,727, though occupancy declined due to West Asia crisis and new inventory in Bengaluru.
Strong operational and financial performance with margin expansion demonstrates effective asset management and operational efficiency. The aggressive pipeline expansion (Ritz Carlton, Taj Delhi, Hyatt Airoli) positions the company for continued growth but will require significant capex. Short-term occupancy pressures from external factors and construction activities may weigh on near-term RevPAR.