“We are pleased to announce this new collaboration with the Hyatt Group, one of the leading global Hospitality Brands. As part of our growth strategy of strengthening and expanding our portfolio, selection of the right brands continues to be a key focus for our company," said Sanjay Sethi, MD and CEO at Chalet Hotels.
had made its debut on the stock exchanges earlier this year. The initial public offering (IPO) of the company was subscribed 1.57 times, due to the strong response from institutional investors. The company’s public issue for qualified institutional buyers (QIBs) was oversubscribed 4.66 times, while the non-institutional investor category was oversubscribed 1.1 times. The retail investor category was subscribed by merely 0.03 times. The company raised Rs 1,641 crore through its IPO.
On February 7, the stock settled lower after making a decent debut on the exchange. On the National Stock Exchange (NSE), Chalet Hotels settled at Rs 291.95 apiece, down 0.70 per cent against its listing price of Rs 294 per share. Since listing, shares of Chalet Hotels have rallied around 17 per cent (as on Monday) as compared to nearly 11 per cent rise in the Nifty50 index, ACE Equity data shows.
For the second quarter (July-September) of FY20, Chalet's revenue remained flat YoY at Rs 240 crore; however, after adjusting EBITDA for exchange loss of Rs 38.9 crore in 2QFY19, EBITDA grew 16 per cent YoY to Rs 81.6 crore, analysts at Motilal Oswal Financial Services (MOFSL) had written in a results review note dated November 26.
"Additionally, CHALET’s hospitality segment EBITDA after adjusting for exchange loss (of Rs 36.7 crore in 2QFY19) declined 3 per cent YoY to Rs 74.9 crore. Thus, commercial segment aided overall EBITDA (up 5.6x YoY) to touch Rs 22.2 crore as the ‘Sahar Office Tower’ got occupied," the note added.