Chalet Hotels Q1 results: Co posts revenue from operations at Rs 70 cr; losses at Rs 42 cr

Its losses were at Rs 42 crore up from Rs 39.3 crore in the corresponding period of the last fiscal. Chalet had posted revenue from operations of Rs 98 crore in the quarter ended March. It had posted losses of Rs 26 crore in the quarter ended March this year.

Part of the K. Raheja Corp, Chalet Hotels Limited (

) is an owner, developer and asset manager of high-end hotels. The company’s hotel portfolio comprises seven operating hotels including a hotel with a co-located serviced residence, located in the key Indian cities of Mumbai, Hyderabad, Bengaluru, and Pune encompassing 2,554 keys.

While the second wave of COVID-19 did impact business in Q1 of this year, Sanjay Sethi, MD and CEO at Chalet Hotels, would like to highlight that the recovery in June and July has been sharper than anticipated.

“Government initiatives in the opening of various states across the country and improving consumer sentiments augur well for a quick revival. At Chalet Hotels we leverage our strength in asset management, with a focus on improving efficiencies and asset allocation for long-term sustainable growth,” he added.

Chalet said occupancy for Q1FY22 was at 36 per cent as against 24 per cent for Q1FY21 an expansion of 1,200 bps. Post the second wave in June, occupancy jumped to 47 per cent, it said.