AI assistant
Indian Hotels Co. Ltd — Investor Presentation 2024
Feb 1, 2024
59258_rns_2024-02-01_85c0d7f8-ecf5-4695-8613-96a7a0ec50ed.pdf
Investor Presentation
Open in viewerOpens in your device viewer
February 1, 2024
BSE Limited Corporate Relationship Department 1[st] Floor, New Trading Ring, Rotunda Building, P. J. Towers, Dalal Street, Fort, Mumbai – 400 001. Scrip Code: 500850
National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex Bandra (E) Mumbai 400 051 Scrip Code: INDHOTEL
Dear Sir,
Re: Analyst Presentation
Further to our letter of date, intimating the Financial Results of the Company for the quarter / nine months ended December 31, 2023, enclosed is a copy of the investors / analysts presentation on the performance of the Company for the said period to be made to the analysts at the IHCL Global Conference Call to be held on February 2, 2024.
Kindly acknowledge receipt.
Yours sincerely,
BEEJAL Digitally signed by BEEJAL AKSHAYKUM AKSHAYKUMAR DESAI Date: 2024.02.01 AR DESAI 18:37:15 +05'30' BEEJAL DESAI (F3320) Executive Vice President Corporate Affairs & Company Secretary (Group)
Encl: a/a
==> picture [116 x 46] intentionally omitted <==
Robust Performance, Healthy Fundamentals
GLOBAL CONFERENCE CALL Q3 2023/24
2[nd] February, 2024
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
1
IHCL CASE STUDY
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
2
DELIVERING ON KEY IMPERATIVES
==> picture [102 x 102] intentionally omitted <==
==> picture [103 x 102] intentionally omitted <==
==> picture [102 x 102] intentionally omitted <==
==> picture [103 x 102] intentionally omitted <==
==> picture [852 x 216] intentionally omitted <==
----- Start of picture text -----
STRATEGIC Financial Portfolio New Asset
IMPERATIVES Performance Growth Businesses Management
Flagship Ginger opened;
7 [th] consecutive qtr. of 200 Hotels Operational, Big Machines
KEY WINS New businesses growing
Record Performance Portfolio at 285 hotels delivering results
2X faster
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
3
MACRO CONTEXT : TAILWINDS INTACT IHCL OUTPERFORMING
==> picture [848 x 291] intentionally omitted <==
----- Start of picture text -----
› India – the fastest growing major economy in the world.
MACRO-ECONOMIC
› The rise of Affluent India , benefiting premium consumption.
›
Strong focus on Infrastructure Development.
HOSPITALITY INDUSTRY
› Demand growth continues to outpace Supply.
›
Limited supply growth in key markets, opportunity for market penetration.
› Short term Drivers : Events like IPL , New MICE venues, Recovery in
----- End of picture text -----
-
› Limited supply growth in key markets, opportunity for market penetration.
-
Short term Drivers : Events like IPL , New MICE venues, Recovery in FTAs .
Consistent Performance
Consistent Performance Healthy Fundamentals Industry leading Growth 7th quarter of record financial Resilient Biz. Models Best ever hotel signings and results. & strong balance sheet. hotel openings.
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
4
HOSPITALITY CONTEXT : DEMAND OUTPACES SUPPLY
Hotel Supply to Grow at CAGR of 5-6% In the next 5 years
Expected Rooms Demand CAGR of 8-10% In the next 5 years
==> picture [618 x 202] intentionally omitted <==
----- Start of picture text -----
2,20,000
1,65,000
1,01,000
BRANDED
39,000
SUPPLY
(NO. OF ROOMS)
FY 2007 FY 2014 FY 2023 FY 2028
Source: Hotelivate
----- End of picture text -----
==> picture [185 x 249] intentionally omitted <==
----- Start of picture text -----
Demand Growth to
Continue Outpacing
Supply Growth
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
5
==> picture [960 x 503] intentionally omitted <==
----- Start of picture text -----
IMPERATIVE
1
FINANCIAL
PERFORMANCE
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
6
ROBUST PERFORMANCE KEY HIGHLIGHTS Q3
==> picture [71 x 71] intentionally omitted <==
==> picture [71 x 71] intentionally omitted <==
CONSOL. ₹ 2,004 Crore ₹ 772 Crore Revenue EBITDA Increase Over Q3 FY23 ↑ 15% ↑ 18%
==> picture [71 x 33] intentionally omitted <==
----- Start of picture text -----
Increase Over
Q3 FY23
----- End of picture text -----
==> picture [463 x 154] intentionally omitted <==
----- Start of picture text -----
STANDALONE ₹ 1,323 Crore ₹ 601 Crore
Revenue EBITDA
Increase Over
↑ 22% ↑ 30%
Q3 FY23
----- End of picture text -----
==> picture [71 x 71] intentionally omitted <==
==> picture [71 x 71] intentionally omitted <==
==> picture [71 x 71] intentionally omitted <==
38.5% ₹ 452 Crore 22.6% EBITDA margin PAT PAT margin ↑ 1.0 pp ↑ 18% ↑ 0.6 pp 45.4% ₹ 380 Crore 28.8% EBITDA margin PAT PAT margin ↑ 2.9 pp ↑ 34% ↑ 2.6 pp
Consol Note: PY includes sale of Land for ₹ 33 crs excluding which Like for Like Revenue, EBITDA, EBITDA Margin% & PAT growth for Q3 23/24 vs PY is 17%, 24%, 2.2 pp, 26% & 1.6 pp respectively
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
7
ROBUST PERFORMANCE KEY HIGHLIGHTS 9M
==> picture [71 x 71] intentionally omitted <==
==> picture [71 x 71] intentionally omitted <==
CONSOL. ₹ 5,000 Crore ₹ 1,634 Crore Revenue EBITDA Increase Over 9M FY23 ↑ 16% ↑ 19% STANDALONE ₹ 3,207 Crore ₹ 1,269 Crore Revenue EBITDA Increase Over ↑ 21% ↑ 29% 9M FY23
==> picture [71 x 71] intentionally omitted <==
==> picture [71 x 71] intentionally omitted <==
==> picture [71 x 71] intentionally omitted <==
32.7% ₹ 841 Crore 16.8% EBITDA margin PAT PAT margin ↑ 0.6 pp ↑ 25% ↑ 1.1 pp 39.6% ₹ 726 Crore 22.6% EBITDA margin PAT PAT margin ↑ 2.3 pp ↑ 33% ↑ 2.1 pp
Consol Note: PY includes sale of Land for ₹ 33 crs excluding which Like for Like Revenue, EBITDA, EBITDA Margin% & PAT growth for 9M IS 17%, 21%, 1.1 pp, 30% & 1.6 pp respectively
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
8
ROBUST PERFORMANCE BEST EVER Q3
| PARTICULARS (₹ CR) |
Q3 23-24 |
Q3 22-23 |
Q3 21-22 |
Q3 20-21 |
Q3 19-20 |
Q3 18-19 |
Q3 17-18 |
Q3 16-17 |
Q3 15-16 |
Q3 14-15 |
Q3 13-14 |
Q3 12-13 |
Q3 11-12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| REVENUE 2,004 1,744 1,134 615 1,409 1,338 1,217 1,146 1,185 1,235 1,169 1,074 1,027 |
|||||||||||||
| EBITDA 772 655 344 38 462 350 300 280 274 266 247 223 225 |
|||||||||||||
| EBITDA (%) 38.5% 37.6% 30.4% 6.2% 32.8% 26.2% 24.7% 24.5% 23.1% 21.5% 21.1% 20.8% 21.9% |
|||||||||||||
| PBT 605 495 109 (148) 275 259 169 146 92 130 116 106 103 |
|||||||||||||
| PAT 452 383 76 (119) 203 162 108 93 13 62 60 50 49 |
|||||||||||||
| PAT (%) 22.6% 22.0% 6.7% -19.3% 14.4% 12.1% 8.9% 8.1% 1.1% 5.0% 5.1% 4.6% 4.8% |
-
All figures are consolidated financials
-
From 2019 / 20 onwards, numbers are basis Post-IND AS figures.
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
9
ROBUST PERFORMANCE BEST EVER 9M
| PARTICULARS (₹ CR) |
9M 23-24 |
9M 22-23 |
9M 21-22 |
9M 20-21 |
9M 19-20 |
9M 18-19 |
9M 17-18 |
9M 16-17 |
9M 15-16 |
9M 14-15 |
9M 13-14 |
9M 12-13 |
9M 11-12 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| REVENUE 5,000 4,294 2,257 1,113 3,495 3,314 3,001 3,006 3,035 3,148 3,021 2,775 2,522 |
|||||||||||||
| EBITDA 1,634 1,379 318 (280) 854 592 467 470 480 399 439 398 417 |
|||||||||||||
| EBITDA (%) 32.7% 32.1% 14.1% -25.1% 24.4% 17.9% 15.6% 15.6% 15.8% 12.7% 14.5% 14.3% 16.5% |
|||||||||||||
| PBT 1,131 895 (335) (747) 297 198 71 (35) (86) 15 52 55 60 |
|||||||||||||
| PAT 841 674 (322) (629) 280 172 25 (103) (211) (71) (393) (41) (21) |
|||||||||||||
| PAT (%) 16.8% 15.7% -14.3% -56.5% 8.0% 5.2% 0.8% -3.4% -7.0% -2.2% -13.0% -1.5% -0.8% |
-
All figures are consolidated financials
-
From 2019 / 20 onwards, numbers are basis Post-IND AS figures.
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
10
ROBUST PERFORMANCE ACROSS BRANDS Q3 FY 24
==> picture [195 x 68] intentionally omitted <==
==> picture [195 x 68] intentionally omitted <==
==> picture [194 x 68] intentionally omitted <==
==> picture [849 x 256] intentionally omitted <==
----- Start of picture text -----
Occupancy
↑ 3.1 % ↑ 1.3 % ↑ 5.5 %
YoY Var PP
ARR
↑ 10 % ↑ 10 % ↑ 3 %
YoY Var %
REVPAR
↑ 15 % ↑ 13 % ↑ 12 %
YoY Var %
----- End of picture text -----
- Like for Like Data for IHCL Enterprise hotels including International
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
11
ROBUST PERFORMANCE COMMANDING PREMIUM
==> picture [80 x 80] intentionally omitted <==
==> picture [168 x 72] intentionally omitted <==
----- Start of picture text -----
Industry-Leading
Metrics
(Q3 FY2023/24)
----- End of picture text -----
==> picture [28 x 45] intentionally omitted <==
==> picture [652 x 375] intentionally omitted <==
----- Start of picture text -----
AVERAGE RATES (ARR) OCCUPANCY RevPAR
12,550
72%
65% 9,050
8,250
5,350
₹/night Industry IHCL Industry IHCL ₹/night Industry IHCL
----- End of picture text -----
Source: STR Note: ARR, RevPAR rounded off to the nearest 100
Industry IHCL Domestic (Same Store Enterprise)
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
12
COSTS AS A PERCENTAGE OF CONSOLIDATED REVENUES
==> picture [257 x 199] intentionally omitted <==
----- Start of picture text -----
Payroll Costs as % of
Revenue
24.3
%
23.4%
Q3 22/23 Q3 23/24
----- End of picture text -----
==> picture [263 x 191] intentionally omitted <==
----- Start of picture text -----
Raw Material Costs as %
of F & B Revenue
22.2% 21.8%
Q3 22/23 Q3 23/24
----- End of picture text -----
==> picture [368 x 185] intentionally omitted <==
----- Start of picture text -----
Other Costs as % of
Revenue
26.7
27.3%
%
2/3 [rd] increase is Variable
in nature and related to
change in Business mix.
Q3 22/23 Q3 23/24
----- End of picture text -----
==> picture [253 x 178] intentionally omitted <==
----- Start of picture text -----
Corp. Overhead as %
of Revenue
4.8% 4.7%
Q3 22/23 Q3 23/24
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
13
WHAT WE EXPECT as We go into Next Year ?
DOUBLE DIGIT CONSOLIDATED REVENUE GROWTH
NOT LIKE FOR LIKE GROWTH : +30%
==> picture [298 x 139] intentionally omitted <==
==> picture [299 x 140] intentionally omitted <==
==> picture [524 x 37] intentionally omitted <==
ASSET MANAGEMENT DRIVING PROFITABILITY
==> picture [299 x 140] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
14
==> picture [960 x 503] intentionally omitted <==
----- Start of picture text -----
IMPERATIVE
2
PORTFOLIO
GROWTH
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
15
PORTFOLIO GROWTH MARKS 200 OPERATIONAL HOTELS MILESTONE
PORTFOLIO OF HOTELS
285 92 88
==> picture [37 x 35] intentionally omitted <==
==> picture [32 x 33] intentionally omitted <==
+ 200 85 Operational Pipeline
==> picture [37 x 36] intentionally omitted <==
==> picture [524 x 37] intentionally omitted <==
105
==> picture [64 x 22] intentionally omitted <==
16
PORTFOLIO GROWTH ENABLING STRONG NOT LIKE FOR LIKE GROWTH
==> picture [321 x 372] intentionally omitted <==
----- Start of picture text -----
CY 2023
33 18
Signings Openings
10 5
6 5
11 2
6 6
----- End of picture text -----
==> picture [168 x 367] intentionally omitted <==
----- Start of picture text -----
On Track for
20
Openings
in FY24
----- End of picture text -----
==> picture [321 x 372] intentionally omitted <==
----- Start of picture text -----
FY24 (YTD)
28 16
Signings Openings
8 5
8 4
8 2
4 5
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
17
PORTFOLIO GROWTH PRIMARILY THROUGH MANAGEMENT CONTRACTS
==> picture [44 x 50] intentionally omitted <==
OPERATIONAL INVENTORY BY CONTRACT TYPE
==> picture [256 x 240] intentionally omitted <==
----- Start of picture text -----
9,684
42%
13,484
58%
----- End of picture text -----
==> picture [378 x 317] intentionally omitted <==
----- Start of picture text -----
PIPELINE
BY CONTRACT TYPE
Ginger 78%
2,641
24% Others 22%
8,473
76%
----- End of picture text -----
Owned / Leased
Mgmt. Contract
Owned / Leased Mgmt. Contracts
As on 31[st] December 2023
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
18
MANAGEMENT FEES INCREASE DUE TO ASSET LIGHT GROWTH
==> picture [583 x 325] intentionally omitted <==
----- Start of picture text -----
2X ( 9M FY24 VS 9M FY20 )
319
276
156
134
119
64
FY20 FY23 FY24
----- End of picture text -----
==> picture [44 x 11] intentionally omitted <==
----- Start of picture text -----
₹/ Crores
----- End of picture text -----
==> picture [92 x 102] intentionally omitted <==
==> picture [170 x 128] intentionally omitted <==
----- Start of picture text -----
Increase in hotels under
management to fuel
Management
Fee Growth
High Flow Through
----- End of picture text -----
==> picture [87 x 16] intentionally omitted <==
----- Start of picture text -----
Q3 9M
----- End of picture text -----
Management Contract operational inventory increased 75% in FY24 from FY20
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
19
WHAT WE EXPECT as We go into Next Year ?
OPEN 2+ HOTELS A MONTH
STRATEGIC CASH RESERVE CAPEX AND NEW BUSINESS SUPPORT
==> picture [298 x 139] intentionally omitted <==
==> picture [299 x 140] intentionally omitted <==
==> picture [524 x 37] intentionally omitted <==
LAUNCH OF NEW HOTEL BRANDS TO ACCELERATE GROWTH IN TIER 2 & TIER 3 CITIES
==> picture [299 x 140] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
20
==> picture [960 x 503] intentionally omitted <==
----- Start of picture text -----
IMPERATIVE
3
NEW BUSINESSES
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
21
DIVERSIFICATION OF TOPLINE NEW BRANDS & RE-IMAGINED BUSINESSES
==> picture [899 x 391] intentionally omitted <==
----- Start of picture text -----
Revenue share increased EBITDA share increased
17% vs 10% in 9MFY20 24% vs 16% in 9MFY20
Management amã, Qmin ,
Core Assets New Hotels Ginger
Fee Chambers & Others
New Business
Revenue share
Share of Turnover -
90.1% 4.5% 4.6% 0.8%
FY20 YTD Dec
Share of Turnover
83.2% 2.4% 6.4% 5.5% 2.6%
FY24 YTD Dec
Share of EBITDA
75% 76% 2% 2% 12% 11% 6% 5% 5%
FY24 YTD Dec
----- End of picture text -----
*Contribution to IHCL Consolidated Performance
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
22
NEW BRANDS AND RE-IMAGINED BUSINESSES GROWING AT 2x of CORE ENTERPRISE REVENUES
==> picture [960 x 190] intentionally omitted <==
==> picture [107 x 42] intentionally omitted <==
New & Re-Imagined Businesses Enterprise Revenue 9M Growth YoY 34 %
Core Enterprise 9M Growth YoY 17 %
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
23
NEW BRANDS GINGER MUMBAI AIRPORT
POTENTIAL : REVENUE ₹100 Cr, EBITDA MARGIN 50%+
==> picture [502 x 365] intentionally omitted <==
Performance
==> picture [34 x 34] intentionally omitted <==
₹ 6,500+ ARR
==> picture [34 x 33] intentionally omitted <==
80%+
Occupancy (YTD)
==> picture [31 x 31] intentionally omitted <==
PBT Positive from Month 1
No Cannibalization at the cost of other IHCL hotels
==> picture [524 x 37] intentionally omitted <==
Success Drivers
==> picture [55 x 55] intentionally omitted <==
Value Proposition – Lean Luxe
==> picture [41 x 42] intentionally omitted <==
Location
Strong F&B: 29% of Room Revenue Driven by Qmin
==> picture [48 x 39] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
24
RE-IMAGINED GINGER GROWTH MOMENTUM CONTINUES
* Figures for Enterprise
==> picture [203 x 203] intentionally omitted <==
==> picture [515 x 285] intentionally omitted <==
----- Start of picture text -----
Operational Revenues EBITDA
Hotels
FY 19-20 50 ₹ 238 Cr ₹ 55 Cr
9M 23-24 62 ₹ 336 Cr ₹ 123 Cr
----- End of picture text -----
67% of the Portfolio is now Lean Luxe
commanding
25%+ Rate Premium
==> picture [97 x 57] intentionally omitted <==
==> picture [745 x 35] intentionally omitted <==
----- Start of picture text -----
NOW IN 34 HOTELS , YTD REVENUE ₹ 37 Cr AND GROWING
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
25
QMIN SHOWCASING GROWTH ACROSS FORMATS
==> picture [187 x 227] intentionally omitted <==
==> picture [197 x 227] intentionally omitted <==
==> picture [148 x 119] intentionally omitted <==
==> picture [151 x 119] intentionally omitted <==
==> picture [82 x 118] intentionally omitted <==
==> picture [196 x 340] intentionally omitted <==
----- Start of picture text -----
Asset Light Growth:
Key Imperatives
Qminization of Ginger
Strategic Alliances
Delivery: Online & Offline
Profitable Growth
----- End of picture text -----
₹ 72 Cr GMV 9M FY 23-24
Business Mix 9MFY24
==> picture [157 x 154] intentionally omitted <==
----- Start of picture text -----
49%
51%
----- End of picture text -----
Qmin in Ginger Hotels Delivery, Shops, QSR
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
26
amã ON A GROWTH JOURNEY
==> picture [532 x 42] intentionally omitted <==
----- Start of picture text -----
Poised to Hit
----- End of picture text -----
==> picture [132 x 113] intentionally omitted <==
==> picture [562 x 326] intentionally omitted <==
----- Start of picture text -----
150+ Portfolio [100+] Operational
143
114
80
38
20
Mar'20 Mar'21 Mar'22 Mar'23 Dec-23
Operational Pipeline
----- End of picture text -----
==> picture [111 x 37] intentionally omitted <==
----- Start of picture text -----
16 Signings
(Q3FY24)
----- End of picture text -----
==> picture [124 x 38] intentionally omitted <==
----- Start of picture text -----
11 Openings
(Q3FY24)
----- End of picture text -----
==> picture [49 x 49] intentionally omitted <==
==> picture [43 x 49] intentionally omitted <==
Operational + Pipeline
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
27
RE-IMAGINED TajSATS RECORD PERFORMANCE CONTINUES
==> picture [960 x 402] intentionally omitted <==
----- Start of picture text -----
All figures for Q3 FY24
₹ 233 Cr ₹ 60 Cr 26% 59%
Revenues EBITDA EBITDA Margin
Growth of Growth of 5.1 pp
Market Share
34% YoY 68% YoY Margin Expansion
YTD FY24 Revenue (₹ 650 Crore), EBITDA (₹ 162 Crore) and PAT (₹ 111 Crore) surpassed
previous Full Year FY23 Revenue (₹ 641 Crore), EBITDA (₹ 127 Crore) and PAT (₹ 80 Crore)
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
28
RE-IMAGINED CHAMBERS STRONG VALUE PROPOSITION
==> picture [843 x 381] intentionally omitted <==
----- Start of picture text -----
Revenue growth 1.8x New Chambers at Renovated Chambers at
9M FY24 over 9MFY20 Taj West End Bengaluru Taj Lands End
2,850+ 175+ ₹ 84 Crs 80%
Total Chambers Members Added (Net) 16% Revenue growth
Flow through
Members in YTD 2023/24 from YTD Dec 22/23
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
29
WHAT WE EXPECT as We go into Next Year ?
CONSISTENT 30%+ GROWTH RATES
GINGER BRAND LEVEL REVENUE TAJ SATS REVENUE LIKELY INR 600 Cr + LIKELY INR 1,000 Cr +
amã : 2X REVENUES, OWN BUNGALOWS COUNT TO CROSS 15
QMIN IN ALL GINGERS QMIN GMV LIKELY INR 125 Cr +
==> picture [299 x 108] intentionally omitted <==
==> picture [299 x 108] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
30
IMPERATIVE 4 ASSET MANAGEMENT
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
31
INVESTING IN OUR PORTFOLIO
==> picture [857 x 392] intentionally omitted <==
----- Start of picture text -----
FY 18-19 FY 19-20 FY 20-21 FY 21-22 FY 22-23 9M 23-24
Past 5 Years
Consol. Capex Spend
(₹/Crores) 479 487 215 318 471 470
RE-IMAGINING NEW
KEY RENOVATIONS NEW BUILDS CONCEPTS
▪ ▪ Ginger Mumbai Airport, Mumbai ▪ Chambers (Lands End, Taj West End)
Taj Mahal, New Delhi
▪ ▪ Taj Cochin International Airport ▪ F&B Concepts - Loya, Captain’s Cellar
Taj Lands End, Mumbai
▪
▪ Usha Kiran Palace, Gwalior Spektra – Private Screening Theatre
▪ Tajview, Agra ▪ J Wellness
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
32
==> picture [60 x 54] intentionally omitted <==
CONTINUES TO BE THE KEY REVENUE & EBITDA DRIVER
OPERATIONAL HOTELS PORTFOLIO
TAJ SHARE : 52%
==> picture [191 x 188] intentionally omitted <==
----- Start of picture text -----
38%
48%
14%
----- End of picture text -----
HOTELS ENTERPRISE REVENUE
==> picture [190 x 239] intentionally omitted <==
----- Start of picture text -----
TAJ SHARE : 79%
21%
16%
63%
----- End of picture text -----
HOTELS ENTERPRISE EBITDA
TAJ SHARE : 78%
==> picture [189 x 185] intentionally omitted <==
----- Start of picture text -----
22%
16% 62%
----- End of picture text -----
TAJ TAJ Upgraded Others
As on 31[st] December 2023 – Share of All Hotels Enterprise Revenue & EBITDA for 9 months
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
33
INVESTING IN OUR ASSETS RENOVATIONS ENABLING PREMIUM
==> picture [210 x 125] intentionally omitted <==
==> picture [214 x 61] intentionally omitted <==
----- Start of picture text -----
Complete Hotel Renovated &
launched
----- End of picture text -----
==> picture [210 x 125] intentionally omitted <==
==> picture [214 x 62] intentionally omitted <==
----- Start of picture text -----
Complete Hotel Renovated
.
----- End of picture text -----
==> picture [210 x 125] intentionally omitted <==
==> picture [214 x 61] intentionally omitted <==
----- Start of picture text -----
Complete Hotel under
Renovation
----- End of picture text -----
==> picture [210 x 124] intentionally omitted <==
==> picture [214 x 61] intentionally omitted <==
----- Start of picture text -----
Rooms, Chambers, Pool, Spa,
Theatre
----- End of picture text -----
==> picture [210 x 124] intentionally omitted <==
==> picture [210 x 124] intentionally omitted <==
==> picture [210 x 125] intentionally omitted <==
Restaurant & Public Area. Restaurant & Public Area. Restaurant & Public Area.
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
34
EFFECTIVE ASSET MANAGEMENT BIG MACHINES PERFORMANCE - Q3
Revenue 209 (+21%) EBITDA 98 (+31%)
==> picture [178 x 178] intentionally omitted <==
Revenue 105 (+9%) EBITDA 31 (+16%)
==> picture [178 x 178] intentionally omitted <==
==> picture [275 x 178] intentionally omitted <==
----- Start of picture text -----
Revenue
145 (+21%)
EBITDA
72 (+33%)
----- End of picture text -----
Revenue 12.2 (+5%) EBITDA 3.7 (+42%)
==> picture [178 x 177] intentionally omitted <==
==> picture [275 x 177] intentionally omitted <==
----- Start of picture text -----
Revenue
80 (+98%)
EBITDA
23 (+209%)
----- End of picture text -----
All figures in ₹ crore except St. James Court (in GBP Mn.) (Comparison YoY)
* Taj Mahal New Delhi was under renovation last year
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
35
WHAT WE EXPECT as We go into Next Year ?
RELAUNCH OF TAJ MALABAR COCHIN OPENING OF HOTEL AT COCHIN INTERNATIONAL AIRPORT
GREENFIELD PROJECT EXECUTION TO GATHER PACE
LAKSHADWEEP & EKTA NAGAR
==> picture [299 x 139] intentionally omitted <==
==> picture [299 x 140] intentionally omitted <==
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
36
==> picture [62 x 65] intentionally omitted <==
KEY ENABLERS
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
37
STRONG BALANCE SHEET WITH HEALTHY CASH RESERVES
₹ /crores
Free Cash Flow ₹ 743 crores
==> picture [157 x 343] intentionally omitted <==
Free Cash Flow : Q1 ₹ 47 crs : Q2 ₹ 219 crs : Q3 ₹ 477 crs
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
38
ENABLED BY DOING BUSINESS THE RESPONSIBLE WAY
==> picture [453 x 443] intentionally omitted <==
----- Start of picture text -----
PROGRESS UPDATE
315 Tons of Plastic Saved through Glass Bottles,
Bio-degradable Bathroom Amenities, Paper Straws
40 hotels have bottling plants to
eliminate use of single-use plastic bottles
47%
water recycled
39%
Renewable energy
335 EV
charging stations across 142 locations in India
----- End of picture text -----
==> picture [61 x 372] intentionally omitted <==
Waste
100% elimination of single-use plastic
Waste
100% operating hotels will have an organic waste management system
Water 100% water recycling
2030 Goals
Energy
50% energy use to be from renewables
All hotels to provide EV charging stations
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
39
ENABLED BY DOING BUSINESS THE RESPONSIBLE WAY | NEW INITIATIVES
==> picture [125 x 125] intentionally omitted <==
Water Resource Management
==> picture [34 x 33] intentionally omitted <==
3000
Farm-based families will see a 50% increase in their income
20% 25.65Lc KL Reduction in Distress Freshwater Migration Storage Capacity
==> picture [410 x 243] intentionally omitted <==
----- Start of picture text -----
Cooling
Innovation
lab at IIT
Jammu
Sponsor a batch of 25 women to Provide opportunities for
be skilled in the space of internships
‘
Sustainable Cooling’ in our hotels
----- End of picture text -----
==> picture [94 x 139] intentionally omitted <==
----- Start of picture text -----
Akhand
Jyoti
----- End of picture text -----
AKHAND JYOTI EYE HOSPITAL is a IHCL partners to provide secular and non-profit Soft Skills Training to organisation started in 2006 the students
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
40
ENABLED BY CUSTOMER LOYALTY, TATA NEU
==> picture [72 x 72] intentionally omitted <==
Total loyalty led revenue ₹ 840 Crore + 18% Growth vs. Q3FY23
==> picture [545 x 25] intentionally omitted <==
----- Start of picture text -----
604
----- End of picture text -----
102 54 76
==> picture [16 x 16] intentionally omitted <==
Copper Silver Gold Platinum
==> picture [49 x 55] intentionally omitted <==
Loyalty contribution Total Members Transactions to enterprise revenue 5.1 Mn. ~3,50,000 24%
“ Loyalty Led Revenues is the revenue generated by Loyalty customers through all channels Out of this ₹ 585 Cr was eligible for reward points. ”
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
41
ENABLED BY SUPERIOR SERVICE EXCELLENCE, RECOGNIZED GLOBALLY
==> picture [960 x 435] intentionally omitted <==
----- Start of picture text -----
World’s Finest Rambagh Palace Nominated in the
Favourite Indian Heritage Hotel
Luxury Grand category of
Palaces Taj Madikeri Resort
“Best Hotel
& Spa, Coorg
Best Hotels and Resorts in Asia Brands”
NeuPass
TRAVEL + LEISURE
Best Loyalty Program
World’s Best Awards 2024
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
42
ENABLED BY CUSTOMER CENTRICITY IMPROVING NPS SCORES
==> picture [195 x 68] intentionally omitted <==
==> picture [195 x 68] intentionally omitted <==
==> picture [632 x 245] intentionally omitted <==
----- Start of picture text -----
FY 2019/20 67.3 66.0
FY 2022/23 69.4 68.5
FY 2023/24 (YTD) 73.8 72.7
----- End of picture text -----
Source: TrustYou
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
43
IN SUMMARY WE WILL CONTINUE TO FOCUS ON :
==> picture [148 x 205] intentionally omitted <==
----- Start of picture text -----
Sustained Portfolio
Growth
Enhanced Profitability
through focus on
productivity
----- End of picture text -----
==> picture [254 x 205] intentionally omitted <==
Strong Balance sheet and Free Cash Flow
==> picture [42 x 43] intentionally omitted <==
Asset Management
Enabled by doing Business responsible way PAATHYA
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
44
WELL POISED TO ACHIEVE THE AHVAAN 2025 TARGETS
==> picture [910 x 352] intentionally omitted <==
----- Start of picture text -----
Ahvaan Achieved
Target Till Date
ICONIC AND PROFITABLE
HOSPITALITY COMPANY
Margin 33% 32.7% []
RE-ENGINEER
MARGINS
RE-IMAGINE RE-STRUCTURE
BRANDSCAPE PORTFOLIO Net Cash
Net Debt Zero
₹ 1548 Crs
CULTURE ONE TATA EXCELLENCE
ORGANIZATION DIGITAL PAATHYA Portfolio 300+ 285
INTEGRITY, EXCELLENCE, UNITY,
TRUST, AWARENESS, JOY RESPONSIBILITY, PIONEERING Mix 50-50 53-47 [#]
On Track
----- End of picture text -----*
*: 9M FY23/24
: 53% managed (Operational + Pipeline)
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
45
==> picture [63 x 66] intentionally omitted <==
DETAILS ON FINANCIAL PERFORMANCE
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
46
==> picture [24 x 50] intentionally omitted <==
IHCL CONSOLIDATED P & L STATEMENT
Q3 2023-24
₹ /crores
==> picture [902 x 363] intentionally omitted <==
----- Start of picture text -----
987 PBT
PAT
+21% Revenue from
EBITDA 605
Operations 452
30% Margin
Room 1,964 772 23% Margin
Revenue +16% 38.5% Margin
Total Revenue +1.0 pp
Tax
2,004
167
+15%
704 Other
Others
+11%
F&B Expenses
14
Revenue
134 167
+13%
Management
Fee Depreciation
139 114
+21% Operating
Other
Expenditure
Operating 40
1,231 Finance Costs
Income -31%
+13%
53
Other
Income
Exceptional Items
-
----- End of picture text -----*
All percentage growth figures are v/s Q3 2022/23
* Others include Share of Profit/(Loss) after Tax in Associates / JV Less MI in Subsidiaries
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
47
==> picture [24 x 50] intentionally omitted <==
IHCL STANDALONE P & L STATEMENT
₹ /crores
Q3 2023-24
==> picture [906 x 362] intentionally omitted <==
----- Start of picture text -----
575 PBT
PAT
+27% Revenue from
EBITDA 515
Operations 380
39% Margin
Room 1,281 601 29% Margin
Revenue +21% 45.4% Margin
Total Revenue +2.9 pp
Tax
1,323
134
+22%
457 Other
+14%
F&B Expenses
Revenue
136 86
+14%
Management
Fee Depreciation
112 59
+23% Operating
Other
Expenditure
Operating 43
+96% 722 Finance Costs
Income
+16%
28
Other
Income
Exceptional items
Gain/(Loss)
-
----- End of picture text -----
All percentage growth figures are v/s Q3 2022-23
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
48
==> picture [24 x 50] intentionally omitted <==
ROBUST REVPAR GROWTH Across Cities in Q3
==> picture [851 x 280] intentionally omitted <==
----- Start of picture text -----
17% 25% 15% 18% 11% 18% 22% 22% 23% 10%
India Mumbai Delhi & NCR Bengaluru Goa Chennai Rajasthan Hyderabad Kolkata Kerala
----- End of picture text -----
Domestic Hotels – Like for Like –yoy growth
==> picture [8 x 8] intentionally omitted <==
Q3 2023/24
==> picture [8 x 8] intentionally omitted <==
Q3 2022/23
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
49
==> picture [24 x 50] intentionally omitted <==
REVPAR GROWTH Across Key International Markets in Q3
==> picture [852 x 285] intentionally omitted <==
----- Start of picture text -----
-3% 10% -9% 10% 37% 95%
USA UK Maldives Dubai Capetown Sri Lanka
----- End of picture text -----
International Hotels– Like for Like –yoy growth
==> picture [9 x 9] intentionally omitted <==
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
Q3 2023/24 Q3 2022/23
50
==> picture [25 x 54] intentionally omitted <==
MANPOWER / ROOM BY BRAND Operating Efficiencies Maintained despite increase in Revenues by 43% from FY20
==> picture [852 x 246] intentionally omitted <==
----- Start of picture text -----
3.44
3.28
3.14
2.99
2.21
2.12
1.96
1.53 1.52
1.37
0.51 0.54
----- End of picture text -----
Dec-19 Dec-23
-
Ginger – Increase on account of F&B insourcing and Qminisation of Ginger which increases F&B revenue.
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
51
==> picture [24 x 53] intentionally omitted <==
FINANCIAL HIGHLIGHTS Q3 FY 2023/24
₹ /crores
==> picture [577 x 355] intentionally omitted <==
----- Start of picture text -----
IHCL ENTERPRISE IHCL CONSOLIDATED
3,768
3,220 38.9% 38.2% 2,004 38.5% 37.6%
1,744
1,466
1,229 772
655
17% 19% 15% 18%
Revenue EBITDA Revenue EBITDA
YoY Change – Revenue & EBITDA EBITDA Margin % Q3 23/24 Q3 22/23
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
IHCL STANDALONE
==> picture [266 x 278] intentionally omitted <==
----- Start of picture text -----
1,323
1,083
45.4% 42.5%
601
461
22% 30%
Revenue EBITDA
----- End of picture text -----
==> picture [64 x 22] intentionally omitted <==
52
₹ /crores
==> picture [24 x 54] intentionally omitted <==
KEY SUBSIDIARIES Q3 FY 2023/24
==> picture [577 x 355] intentionally omitted <==
----- Start of picture text -----
PIEM HOTELS LIMITED ROOTS CORPORATION LIMITED
163
104
142
32.9% 31.0% 39.1% 38.6%
82
40
54
32
44
15% 22% 26% 27%
Revenue EBITDA Revenue EBITDA
YoY Change – Revenue & EBITDA EBITDA Margin % Q3 23/24 Q3 22/23
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
BENARES HOTELS LIMITED
==> picture [266 x 261] intentionally omitted <==
----- Start of picture text -----
34
29 48.5% 44.3%
17
13
21% 32%
Revenue EBITDA
----- End of picture text -----
==> picture [64 x 22] intentionally omitted <==
53
==> picture [24 x 53] intentionally omitted <==
KEY SUBSIDIARIES Q3 FY 2023/24
==> picture [42 x 11] intentionally omitted <==
----- Start of picture text -----
₹ /crores
----- End of picture text -----
==> picture [697 x 361] intentionally omitted <==
----- Start of picture text -----
UOH INC (USA) ST JAMES COURT LONDON
126
222
217
112
7.7% 14.4% 30.3% 22.5%
38
32
17 25
- -
13% 52%
Revenue EBITDA Revenue EBITDA
YoY Change – Revenue & EBITDA EBITDA Margin % Q3 23/24 Q3 22/23
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
54
₹ /crores
==> picture [24 x 53] intentionally omitted <==
KEY ASSOCIATES / JV Q3 FY 2023/24
TAJ SATS AIR CATERING LTD
ORIENTAL HOTELS LTD
==> picture [266 x 265] intentionally omitted <==
----- Start of picture text -----
233
173
25.8% 20.6%
60
36
34% 68%
Revenue EBITDA
----- End of picture text -----
==> picture [266 x 262] intentionally omitted <==
----- Start of picture text -----
107 107
31.3% 31.4%
34 34
1% 3%
Revenue EBITDA
----- End of picture text -----
==> picture [26 x 26] intentionally omitted <==
YoY Change – Revenue & EBITDA
EBITDA Margin % Q3 23/24 Q3 22/23
- OHL : Taj Malabar Resort & Spa, Kochi is under renovation for CY. Revenue, EBITDA and EBITDA margin growth excl. Taj Malabar is 16%, 22% & 1.8 pp
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
55
==> picture [116 x 46] intentionally omitted <==
Robust Performance, Healthy Fundamentals
GLOBAL CONFERENCE CALL Q3 2023/24
2[nd] February, 2024
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
56
DISCLAIMER
These presentations may contain forward-looking statements within the meaning of applicable securities laws. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements.
Forward-looking statements are not guarantees of future performance and involve risks and uncertainties and other factors that may cause actual results to differ materially from those anticipated at the time the forward-looking statements are made. Future results, performance and achievements may be affected by general economic conditions, regulatory environment, business and financing conditions, foreign exchange fluctuations, cyclicality and operating risks associated with the hospitality industry and other circumstances and uncertainties.
Although we believe the expectations reflected in such forward looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Please visit our corporate website www.ihcltata.com for previous investor communications.
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
57
==> picture [960 x 503] intentionally omitted <==
----- Start of picture text -----
ANNEXURES
----- End of picture text -----
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
58
Share of Revenue
==> picture [25 x 53] intentionally omitted <==
MARKET SEGMENT : ROOM REVENUE
YTD Dec - FY24 YTD Dec - FY23
==> picture [853 x 273] intentionally omitted <==
==> picture [865 x 63] intentionally omitted <==
----- Start of picture text -----
57% 58% 11% 11% 17% 16% 3% 3% 9% 9% 2% 1% 2% 2%
Transient Corporate MICE Long Stay Leisure Groups Crew
----- End of picture text -----
Includes all Hotels except Ginger
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
59
Share of Revenue
==> picture [24 x 53] intentionally omitted <==
CHANNEL: ROOM REVENUE
YTD Dec - FY24 YTD Dec - FY23
==> picture [839 x 258] intentionally omitted <==
==> picture [864 x 82] intentionally omitted <==
----- Start of picture text -----
48% 50% 8% 6% 5% 5% 25% 25% 14% 14%
Hotels Reservation office Central reservation Global Distribution system Aletrnative Distribution Our Website
office(TRW) (GDS) system (ADS)
----- End of picture text -----
Includes all Hotels except Ginger
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
60
India (LFL) – City Wise Revenue Statistics Q3 2023-24 vs 2022-23
| Domestic Hotels ( Enterprise) |
Occ % ARR in ₹ RevPAR in ₹ |
Occ % ARR in ₹ RevPAR in ₹ |
Occ % ARR in ₹ RevPAR in ₹ |
Occ % ARR in ₹ RevPAR in ₹ |
Occ % ARR in ₹ RevPAR in ₹ |
Occ % ARR in ₹ RevPAR in ₹ |
|---|---|---|---|---|---|---|
| CY 23/24 PY 22/23 |
% | CY 23/24 PY 22/23 |
% | CY 23/24 PY 22/23 |
% | |
| Mumbai | 85% 85% 80% 79% 71% 67% 79% 74% 75% 72% 60% 58% 73% 71% 77% 75% 67% 67% |
0% | 17,000 13,600 10,600 9,300 10,000 9,000 19,000 18,300 8,600 7,600 32,500 27,500 11,500 9,700 9,000 7,500 9,400 8,500 |
25% | 14,400 11,500 25% 8,500 7,400 15% 7,100 6,000 18% 14,900 13,400 11% 6,400 5,400 18% 19,600 16,000 22% 8,400 6,900 22% 6,900 5,600 23% 6,300 5,700 10% |
|
| Delhi & NCR | 1% | 14% | ||||
| Bengaluru | 4% | 11% | ||||
| Goa | 5% | 4% | ||||
| Chennai | 3% | 14% | ||||
| Rajasthan | 2% | 19% | ||||
| Hyderabad | 2% | 19% | ||||
| Kolkata | 2% | 20% | ||||
| Kerala | 0% | 10% | ||||
| Grand Total | 72% 70% |
2% | 12,600 11,000 |
13% | 9,000 7,700 17% |
Domestic Hotels including Ginger
LFL – excludes New hotels opened after 1[st] April 2022, hotels under renovation / Expansion in CY & PY
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
61
International – City Wise Revenue Statistics Q3 2023-24 vs 2022-23
| International Hotels ( Enterprise ) |
Occ % ARR in $ RevPAR in $ |
Occ % ARR in $ RevPAR in $ |
Occ % ARR in $ RevPAR in $ |
Occ % ARR in $ RevPAR in $ |
Occ % ARR in $ RevPAR in $ |
Occ % ARR in $ RevPAR in $ |
|---|---|---|---|---|---|---|
| CY 23/24 PY 22/23 |
% | CY 23/24 PY 22/23 |
% | CY 23/24 PY 22/23 |
% | |
| USA | 70% 67% 75% 71% 76% 71% 84% 80% 78% 72% 53% 36% |
3% | 700 760 420 400 570 660 340 320 190 150 120 90 |
-7% | 490 510 -3% 320 290 10% 430 470 -9% 280 260 10% 150 110 37% 60 30 95% |
|
| UK | 4% | 5% | ||||
| Maldives | 5% | -15% | ||||
| Dubai | 4% | 4% | ||||
| Cape Town | 6% | 27% | ||||
| Sri Lanka | 17% | 34% | ||||
| Grand Total | 70% 63% |
7% | 330 340 |
-2% | 230 210 9% |
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
62
SEGMENT STATISTICS Q3 FY24
| DOMESTIC HOTELS LFL ( Enterprise ) |
Occ % | Occ % | ARR in ₹ | ARR in ₹ | RevPAR in ₹ | RevPAR in ₹ |
|---|---|---|---|---|---|---|
| 23/24 | Var pp | 23/24 | Var % | 23/24 | Var % | |
| Taj | 75% | 2% | 17,729 | 15% | 13,311 | 18% |
| Business Leisure Palaces |
79% 71% 57% |
1% | 13,850 20,413 55,324 |
20% | 10,912 14,544 31,512 |
21% |
| 5% | 5% | 12% | ||||
| 0% | 24% | 25% | ||||
| Vivanta | 73% | 2% | 7,888 | 8% | 5,720 | 10% |
| Business Leisure |
76% 60% |
3% | 7,382 10,365 |
8% | 5,594 6,208 |
12% |
| -4% | 8% | 2% | ||||
| SeleQtions | 70% | -3% | 11,797 | 19% | 8,244 | 14% |
| Business Leisure |
80% 54% |
-5% | 10,542 14,687 |
26% | 8,478 7,883 |
19% |
| 0% | 6% | 6% | ||||
| Total Domestic Hotels (Includes Ginger & ama) |
72% | 2% | 12,551 | 13% | 9,044 | 17% |
LFL – excludes New hotels opened after 1[st] April 2022, hotels under renovation / Expansion /Exit in CY & PY
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
63
Q3 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES
₹ /crores
| Q3 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /cr |
Q3 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /cr |
Q3 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /cr |
Q3 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /cr |
Q3 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /cr |
Q3 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES ₹ /cr |
|---|---|---|---|---|---|
| LEGAL ENTITY | REVENUE | EBITDA | PBT | PAT | |
| UOH Inc. - USA | 217 | 17 | (4) | (4) | |
| St. James Court - UK | 126 | 38 | 20 | 13 | |
| PIEM Hotels Ltd. | 163 | 54 | 42 | 29 | |
| Roots Corporation Ltd | 104 | 40 | 20 | 16 | |
| Benares Hotels Ltd. | 34 | 17 | 15 | 11 | |
| Taj SATS Air Cat. Ltd. | 233 | 60 | 54 | 42 | |
| Oriental Hotels Ltd. | 107 | 34 | 23 | 19 |
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
64
9M FY 2023/24 - PERFORMANCE OF KEY LEGAL ENTITIES
| ₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 544 (6) (69) (69) St. James Court - UK 411 134 77 53 PIEM Hotels Ltd. 404 102 67 47 Roots Corporation Ltd 266 96 36 28 Benares Hotels Ltd. 87 37 33 24 Taj SATS Air Cat. Ltd. 650 162 146 111 Oriental Hotels Ltd. 294 79 47 31 |
₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 544 (6) (69) (69) St. James Court - UK 411 134 77 53 PIEM Hotels Ltd. 404 102 67 47 Roots Corporation Ltd 266 96 36 28 Benares Hotels Ltd. 87 37 33 24 Taj SATS Air Cat. Ltd. 650 162 146 111 Oriental Hotels Ltd. 294 79 47 31 |
₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 544 (6) (69) (69) St. James Court - UK 411 134 77 53 PIEM Hotels Ltd. 404 102 67 47 Roots Corporation Ltd 266 96 36 28 Benares Hotels Ltd. 87 37 33 24 Taj SATS Air Cat. Ltd. 650 162 146 111 Oriental Hotels Ltd. 294 79 47 31 |
₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 544 (6) (69) (69) St. James Court - UK 411 134 77 53 PIEM Hotels Ltd. 404 102 67 47 Roots Corporation Ltd 266 96 36 28 Benares Hotels Ltd. 87 37 33 24 Taj SATS Air Cat. Ltd. 650 162 146 111 Oriental Hotels Ltd. 294 79 47 31 |
₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 544 (6) (69) (69) St. James Court - UK 411 134 77 53 PIEM Hotels Ltd. 404 102 67 47 Roots Corporation Ltd 266 96 36 28 Benares Hotels Ltd. 87 37 33 24 Taj SATS Air Cat. Ltd. 650 162 146 111 Oriental Hotels Ltd. 294 79 47 31 |
₹ /crores LEGAL ENTITY REVENUE EBITDA PBT PAT UOH Inc. - USA 544 (6) (69) (69) St. James Court - UK 411 134 77 53 PIEM Hotels Ltd. 404 102 67 47 Roots Corporation Ltd 266 96 36 28 Benares Hotels Ltd. 87 37 33 24 Taj SATS Air Cat. Ltd. 650 162 146 111 Oriental Hotels Ltd. 294 79 47 31 |
|---|---|---|---|---|---|
| LEGAL ENTITY | REVENUE | EBITDA | PBT | PAT | |
| UOH Inc. - USA | 544 | (6) | (69) | (69) | |
| St. James Court - UK | 411 | 134 | 77 | 53 | |
| PIEM Hotels Ltd. | 404 | 102 | 67 | 47 | |
| Roots Corporation Ltd | 266 | 96 | 36 | 28 | |
| Benares Hotels Ltd. | 87 | 37 | 33 | 24 | |
| Taj SATS Air Cat. Ltd. | 650 | 162 | 146 | 111 | |
| Oriental Hotels Ltd. | 294 | 79 | 47 | 31 |
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
65
Q3 2023/24 - Revenue Metrics (Domestic)
| Particulars | Standalone | Standalone | Enterprise (Domestic) | Enterprise (Domestic) |
|---|---|---|---|---|
| Q3 FY24 | Var PY | Q3 FY24 | Var PY | |
| Room Revenue F & B Revenue Other Revenue* |
575 +27% 457 +14% 290 +25% |
1,489 +26% 1,207 +18% 266 +4% |
||
| Total Revenue | 1,323 +22% |
2,962 +20% |
||
| Occupancy % | 76.8 +4.7 |
69.6 +1.6 |
||
| ARR in₹ | 18,111 +17% |
11,792 +12% |
||
| RevPAR in₹ | 13,918 +25% |
8,212 +15% |
*Incl. Non-Operating
Total Enterprise Revenue is the summation of all Domestic Hotels including Ginger, all Corporates & Taj SATS Air Catering
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
66
9M FY 2023/24 - Revenue Metrics (Domestic)
| Particulars | Standalone | Standalone | Enterprise (Domestic) | Enterprise (Domestic) |
|---|---|---|---|---|
| 9M FY24 | Var PY | 9M FY24 | Var PY | |
| Room Revenue F & B Revenue Other Revenue* |
1,352 +24% 1,092 +13% 763 +30% |
3,531 +23% 2,998 +19% 757 +18% |
||
| Total Revenue | 3,207 +21% |
7,286 +21% |
||
| Occupancy % | 75.8 +5.1 |
67.5 +2.0 |
||
| ARR in₹ | 14,628 +16% |
9,983 +11% |
||
| RevPAR in₹ | 11,092 +24% |
6,739 +15% |
*Incl. Non-Operating
Total Enterprise Revenue is the summation of all Domestic Hotels including Ginger, all Corporates & Taj SATS Air Catering
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
67
Q3, 9M 2023/24 CONSOLIDATED P&L
| PARTICULARS (₹ CR) |
Q3 | Q3 | Q3 | 9M | 9M | 9M |
|---|---|---|---|---|---|---|
| CY 23/24 | PY 22/23 | Var % | CY 23/24 | PY 22/23 | Var % | |
| Revenue from Operations | 1,964 1,686 |
16% | 4,863 4,184 |
16% | ||
| Non-OperatingRevenue | 40 58 |
-31% | 137 110 |
25% | ||
| Total Revenue | 2,004 1,744 |
15% | 5,000 4,294 |
16% | ||
| Raw Material Cost | 153 140 |
9% | 381 347 |
10% | ||
| Employee Benefits | 469 424 |
10% | 1,338 1,160 |
15% | ||
| Fuel, Power and Light | 73 74 |
-1% | 233 228 |
2% | ||
| Other Expenditure | 537 450 |
19% | 1,414 1,180 |
20% | ||
| Total Expenditure | 1,231 1,089 |
13% | 3,366 2,915 |
15% | ||
| EBITDA | 772 655 |
18% | 1634 1379 |
19% | ||
| EBITDA Margin | 38.5% 37.6% |
+1.0pp | 32.7% 32.1% |
+0.6pp | ||
| Operating EBITDA Margin | 37.3% 35.4% |
+1.9pp | 30.8% 30.3% |
+0.5pp | ||
| Depreciation and Amortization Expense | 114 103 |
11% | 335 308 |
8% | ||
| FinanceCosts | 53 57 |
-6% | 169 179 |
-6% | ||
| Profit Before exceptional Items & Tax | 605 495 |
22% | 1131 891 |
27% | ||
| Exceptional items Gain/(Loss) | - - |
- | - 3 |
- | ||
| **Profit/ (Loss) before tax ** | 605 495 |
22% | 1131 895 |
26% | ||
| Profit/ (Loss) After Tax | 438 379 |
16% | 809 669 |
21% | ||
| Add: Share of Profit/(Loss) in Assoc. & JV’s | 39 25 |
58% | 83 45 |
87% | ||
| Less: Profit / (Loss due toNonContr. interest) | (25) (21) |
-20% | (51) (40) |
-28% | ||
| Profit / (Loss) after Non contr. Int., share of assoc. & JV | 452 383 |
18% | 841 674 |
25% |
Net Finance Income (excluding Interest on Lease Liability) ₹ 18 crs for Q3 (₹ 40 crs for YTD Dec)
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
68
Q3, 9M 2023/24 STANDALONE P&L
| PARTICULARS (₹ CR) |
Q3 | Q3 | Q3 | 9M | 9M | 9M |
|---|---|---|---|---|---|---|
| CY 23/24 | PY 22/23 | Var % Vs 22/23 |
CY 23/24 | PY 22/23 | Var % Vs 22/23 |
|
| Revenue from Operations | 1,281 1,062 |
21% | 3,064 2,573 |
19% | ||
| Non-OperatingRevenue | 43 22 |
96% | 143 73 |
97% | ||
| Total Revenue | 1,323 1,083 |
22% | 3,207 2,646 |
21% | ||
| Raw Material Cost | 98 91 |
8% | 239 222 |
8% | ||
| Employee Benefits | 222 199 |
12% | 638 549 |
16% | ||
| Fuel, Power and Light | 45 45 |
-1% | 146 141 |
3% | ||
| Other Expenditure | 356 287 |
24% | 914 748 |
22% | ||
| Total Expenditure | 722 622 |
16% | 1,938 1,661 |
17% | ||
| EBITDA | 601 461 |
30% | 1269 985 |
29% | ||
| EBITDA Margin | 45.4% 42.5% |
+2.9pp | 39.6% 37.2% |
+2.3pp | ||
| Operating EBITDA Margin | 43.6% 41.4% |
+2.2pp | 36.8% 35.5% |
+1.3pp | ||
| Depreciation and Amortization Expense | 59 52 |
13% | 168 154 |
9% | ||
| Finance Costs | 28 32 |
-15% | 89 96 |
-7% | ||
| Profit Before exceptional Items & Tax | 515 377 |
37% | 1012 735 |
38% | ||
| Exceptional items Gain/(Loss) | 0 0 |
0% | (31) (5) |
- | ||
| Profit/ (Loss) before tax | 515 377 |
37% | 981 729 |
34% | ||
| Profit/ (Loss) After Tax | 380 283 |
34% | 726 544 |
33% |
Net Finance Income (excluding Interest on Lease Liability) ₹ 17 crs for Q3 (₹ 33 crs for YTD Dec)
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
69
IHCL Hotel & Inventory Brandscape as on 31[st] Dec 2023
| Brands | Operational Hotels | Operational Hotels | Pipeline Hotels | Pipeline Hotels | Total Hotels | Total Hotels |
|---|---|---|---|---|---|---|
| (Rooms) | (Rooms) | (Rooms) | ||||
| Taj | 84 | 21 | 105 | |||
| 12,233 | 3,833 | 16,066 | ||||
| Vivanta | 29 | 23 | 52 | |||
| 3,992 | 3,142 | 7,134 | ||||
| SeleQtions | 23 | 13 | 36 | |||
| 1,567 | 1,250 | 2,817 | ||||
| Ginger | 62 | 25 | 87 | |||
| 5,376 | 2,889 | 8,265 | ||||
| TOTAL | 198 | 82 | 280 | |||
| 23,168 | 11,114 | 34,282 | ||||
| Ownership | Operational Hotels | Pipeline Hotels | Total Hotels | |||
| (Rooms) | (Rooms) | (Rooms) | ||||
| IHCL & Group | 113 | 24 | 137 | |||
| 13,484 | 2,641 | 16,125 | ||||
| Management contract | 85 | 58 | 143 | |||
| 9,684 | 8,473 | 18,157 | ||||
| TOTAL | 198 | 82 | 280 | |||
| 23,168 | 11,114 | 34,282 |
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
70
PORTFOLIO PIPELINE
| Brands | 2024 | 2025 | 2026 | 2027 | Grand Total |
|---|---|---|---|---|---|
| Taj | 596 | 1801 | 983 | 453 | 3833 |
| IHCL & Group | 112 | 134 | 220 | 0 | 466 |
| Management Contracts | 484 | 1667 | 763 | 453 | 3367 |
| Vivanta | 553 | 1065 | 595 | 929 | 3142 |
| IHCL & Group | 0 | 125 | 0 | 0 | 125 |
| Management Contracts | 553 | 940 | 595 | 929 | 3017 |
| SeleQtions | 1061 | 170 | 0 | 19 | 1250 |
| Management Contracts | 1061 | 170 | 0 | 19 | 1250 |
| Ginger | 733 | 597 | 537 | 1022 | 2889 |
| IHCL & Group | 599 | 597 | 437 | 417 | 2050 |
| Management Contracts | 134 | 0 | 100 | 605 | 839 |
| Grand Total | 2943 | 3633 | 2115 | 2423 | 11114 |
*The opening schedule is indicative and may change in the future. Pipeline includes addition in inventory on account of expansion in existing hotels.
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
71
Hotels Opened : Last Quarter
| Sl No | Hotel Name | Ownership | Brand | Inventory |
|---|---|---|---|---|
| 1 2 3 4 5 6 |
Taj Taal Kutir Convention Centre Taj Sawai Madhopur Vivanta Tawang Ginger Noida, Sector 133 Ginger Gangtok Ginger Mumbai Airport |
Management Contracts Management Contracts Management Contracts IHCL & Group IHCL & Group IHCL & Group |
Taj Taj Vivanta Ginger Ginger Ginger |
75 60 80 111 89 371 |
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
72
Hotels likely to open in 2024 ( Jan - Dec )
| Sl No | Hotel Name | Contract Type | Brand | Inventory |
|---|---|---|---|---|
| 1 | Gorbandh Palace, IHCL SeleQtions ( Open Now) | Management Contracts | SeleQtions | 83 |
| 2 | Ginger Durgapur ( Open Now) | IHCL & Group | Ginger | 55 |
| 3 | Bliss Hotel, IHCL SeleQtions hotel in Tirupati | Management Contracts | SeleQtions | 114 |
| 4 | Munnar - IHCL SeleQtions | Management Contracts | SeleQtions | 55 |
| 5 | Ginger Ahmedabad Changodar | IHCL & Group | Ginger | 99 |
| 6 | Vivanta Jamshedpur | Management Contracts | Vivanta | 94 |
| 7 | Mahabaleshwar - IHCL SeleQtions | Management Contracts | SeleQtions | 73 |
| 8 | Ginger Srinagar | Management Contracts | Ginger | 62 |
| 9 | Ginger Coimbatore, Avinashi Road | Management Contracts | Ginger | 72 |
| 10 | Ginger Nagpur 2 | IHCL & Group | Ginger | 88 |
| 11 | Taj Hotel at Ambuja City Centre Patna | Management Contracts | Taj | 124 |
| 12 | Taj Puri | Management Contracts | Taj | 90 |
| 13 | IHCL SeleQtions Kumbhalgarh | Management Contracts | SeleQtions | 176 |
| 14 | Rajkot - IHCL SeleQtions | Management Contracts | SeleQtions | 120 |
| 15 | Taj Paro, Bhutan | Management Contracts | Taj | 45 |
| 16 | Taj Phobjika , Bhutan | Management Contracts | Taj | 34 |
| 17 | Ginger Ramdaspeth - Nagpur | IHCL & Group | Ginger | 87 |
| 18 | Ginger Shashtri Circle Udaipur | IHCL & Group | Ginger | 96 |
| 19 | Taj Cochin Airport | IHCL & Group | Taj | 112 |
| 20 | Tadoba, IHCL SeleQtions | Management Contracts | SeleQtions | 35 |
*The opening schedule is indicative and may change in the future
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
73
Hotels likely to open in 2024 ( Jan - Dec )
| Sl No | Hotel Name | Contract Type | Brand | Inventory |
|---|---|---|---|---|
| 21 | IHCL SeleQtions Naukuchiatal | Management Contracts | SeleQtions | 88 |
| 22 | IHCL SeleQtions Candolim | Management Contracts | SeleQtions | 122 |
| 23 | Vivanta New Gurugram | Management Contracts | Vivanta | 160 |
| 24 | IHCL SeleQtions Bandra (West) | Management Contracts | SeleQtions | 43 |
| 25 | Vivanta Manipal | Management Contracts | Vivanta | 100 |
| 26 | Taj Resort & Spa, Dehradun, Uttarakhand | Management Contracts | Taj | 88 |
| 27 | SeleQtions hotels in Bekal | Management Contracts | SeleQtions | 152 |
| 28 | Vivanta Thane | Management Contracts | Vivanta | 99 |
| 29 | VivantaDharamshala | Management Contracts | Vivanta | 100 |
*The opening schedule is indicative and may change in the future
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
74
==> picture [116 x 46] intentionally omitted <==
Robust Performance, Healthy Fundamentals
GLOBAL CONFERENCE CALL Q3 2023/24
2[nd] February, 2024
==> picture [524 x 37] intentionally omitted <==
==> picture [64 x 22] intentionally omitted <==
75