Chalet Hotels - Right Time To Check-In: Prabhudas Lilladher Initiates Coverage

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Prabhudas Lilladher Report

We believe Chalet Hotels Ltd. is best placed to ride the industry upcycle as it has-

strategically located metro centric hotel portfolio where threat of new room supply is low (new supply compound annual growth rate of 6% over next five years in key metro cities) and
requisite pricing power amid affiliation with marquee global brands like Marriott and Novotel.

Chalet Hotels has plans to add 88/168 rooms in Pune/Hyderabad which along with improvement in revenue per available room is likely to drive hotel revenues at 12% CAGR over FY23E-FY25E, whereas annuity business is likely to grow at a CAGR of 78% over the same period amid addition of ~1.4 million square feet of leasable area at Mumbai and Bangalore.

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Prabhudas Lilladher Chalet Hotels Initiating Coverage Note.pdf

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