Chalet Hotels

May 14 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• MARCH-QUARTER CONSOL NET PROFIT 1.63 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 5.58 BILLION RUPEES

• SEEKS SHAREHOLDER APPROVAL TO RAISE UP TO 10 BLN RUPEES VIA DEBT INSTRUMENTS

• TO DILUTE PARTIAL STAKE IN CHALET AIRPORT HOTEL

• RECOMMENDS FINAL DIVIDEND OF 1 RUPEE PER EQUITY SHARE

  
  

Further company coverage: CHAL.NS

(([email protected];;))

** India's travel related stocks fall after PM Narendra Modi urges citizens to limit travel amid disruptions caused by Iran war

** Hotel operator EIH EIHO.NS drops 1.3% to 331.2 rupees, Chalet Hotels CHAL.NS loses 1.4% to 778.2 rupees, Indian Hotels Company IHTL.NS sheds 1.1% to 665.8 rupees

** Ixigo or Le Travenues Technology LETR.NS falls 2.1% to 164.82 rupees; Thomas Cook THOM.NS dips 4.1% to 92.9 rupees

** InterGlobe Aviation INGL.NS falls 3.5% to 4,362 rupees; SpiceJet SPJT.BO eases 2.9% to 13.55 rupees

** YTD, Nifty India Tourism Index .NIFTYINDTOURISM down 13.5%; had fallen 5.8% in 2025

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

** Macquarie says geopolitical tensions in the Middle East could weigh on foreign tourist arrivals and near-term occupancy for Indian hotel operators

** Shares of Lemon Tree Hotels LEMO.NS down 0.79% at 121.68 rupees, Chalet Hotels CHAL.NS drop 1.44% to 799.85 rupees, ITC Hotels ITCT.NS fall 1.34% to 161.40 rupees and Indian Hotels Co IHTL.NS drops 3.07% to 639.45 rupees

** Brokerage says March demand softened as the conflict disrupted inbound travel, which may drive a wobble in fourth-quarter FY2026 occupancies

** Notes foreign tourist arrival exposure is a key swing factor for Chalet, ITC Hotels, and Indian Hotels, which typically derive about 25%–40% of room nights from overseas travelers

** Adds domestic travel remains resilient and could partly cushion the impact

** YTD, LEMO down 23%, CHAL dropped ~7%, ITCT fell 17.2% and IHTL down 10.7%

(Reporting by Surbhi Misra in Bengaluru)

(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))

** Nomura initiates coverage on India's Leela Palaces Hotels & Resorts LEEA.NS with "buy" (TP: 510 rupees) and Chalet Hotels CHAL.NS with "neutral" (TP:860 rupees)

** Brokerage says LEEA can drive high-single to low-double-digit revenue per available room growth, supported by strong super-luxury demand and limited competing supply

** Sees modest FY27 EBITDA growth, as Middle East tensions may weigh on occupancy in 1H; expects FY28-29 to be stronger as new assets come online

** Nomura says 30% of CHAL's portfolio impacted by construction/renovation; occupancy likely to normalise by FY27–28

** Expects ~15% revenue and EBITDA CAGR over FY26–29, driven by ~9% revenue per available room growth, assuming Middle East stabilisation

** LEEA shares down 0.3% to 433.55 rupees, CHAL up 1.38% to 814.25 rupees on the day

** YTD, LEEA up 0.3%, CHAL down 7.72%

(Reporting by Devika Nair in Bengaluru)

(([email protected];))

** Brokerage Jefferies says hotel industry revenue per available room (RevPAR) in India grew about 4% YoY in March, compared to 16% growth in February

** Says growth softened mainly due to disruptions in foreign tourist arrivals amid the conflict in West Asia

** Brokerage expects negative RevPAR growth for Chalet Hotels CHAL.NS in Q4, amid sharp deceleration in key markets

** Estimates stronger Q4 growth for ITC Hotels ITCT.NS, with healthy top-line and bottom-line expansion, aided by India hotels and Sri Lanka residence sales

** For Indian Hotels Company IHTL.NS, brokerage expects a "decent Q4", with Revenue and PAT growth of 12-13% YoY

** "We have built softening in 1QFY27, with recovery thereafter, benefiting from domestic tourism tailwinds," - Jefferies

** Shares of IHTL up 0.8%, ITCT rises 2.3% and CHAL up 2.2% in afternoon trading

(Reporting by Abhinav Parmar in Bengaluru)

(([email protected];))

** Jefferies expects revenue per available room growth to moderate to 5-7% in Q4 from 12-13% in Q3; slip to low-single pct digits Y/Y growth in Q1

** Brokerage says revenue impact reflects disruption to inbound traffic from the Iran war

** Brokerage says earnings cuts will be sharpest for airlines, followed by hotels and airports, reflecting varying degrees of exposure to global travel flows

** Jefferies cuts its target prices on Indian Hotels IHTL.NS, Chalet Hotels CHAL.NS and ITC Hotels ITCT.NS

** Cuts PT on IHTL to 800 rupees from 900 rupees; CHAL's PT reduced to 910 rupees from 1,075 rupees

** PT on ITCT cut to 210 rupees from 250 rupees

** ITCT down 1.7% after falling as much as 3.8%; CHAL, IHTL trading flat

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

March 31 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS LTD - GETS ORDER FOR TAX DEMAND OF 33.1 MILLION RUPEES, INTEREST 40.9 MILLION RUPEES, PENALTY 33.1 MILLION RUPEES

Source text: ID:nNSE7kPZFg

Further company coverage: CHAL.NS

(([email protected];))

** Indian tourism stocks .NIFTYINDTOURISM shed 5.3% so far this week, their steepest weekly fall since early Jan

** Drop comes after U.S. and Israel launched strikes against Iran, which also resulted in the death of Iran's supreme leader

** Analysts say escalations in tensions to hurt travel demand, especially for domestic carriers like IndiGo INGL.NS, which gets 35%-40% of its international capacity from the region

** INGL down 8.6% so far this week, its steepest such fall in three months

** Visa services provider BLS International BLSN.NS drops 7.3% for the week; airports operator GMR Airports GMRI.NS falls 3%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

Feb 23 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• APPROVES DEVELOPMENT OF 330 ROOM LUXURY HOTEL IN HYDERABAD

• INVESTMENT REQUIRED 6.33 BILLION RUPEES

Source text: ID:nBSE7hyJG9

Further company coverage: CHAL.NS

(([email protected];;))

Feb 2 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS DEC-QUARTER CONSOL NET PROFIT 1.24 BILLION RUPEES

• CHALET HOTELS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 5.82 BILLION RUPEES

Source text: ID:nBSE814xRf

Further company coverage: CHAL.NS

(([email protected];))

** Shares of Brigade Hotel Ventures BRIA.NS rise 0.5% to 83.93 rupees

** ICICI Securities initiates with "buy" rating, 117 rupees PT implying 43% upside to last close

** Brokerage highlights plans to 2x operational rooms by FY30 with 9 new hotels, 34 billion rupees ($385.09 million) capex

** Forecast 17% revenue, 20% EBITDA CAGR over FY25-28 on premium hotel ramp-up, margin expansion

** BRIA has strong growth potential as new high-end hotels open and start contributing more meaningfully to profits - ICICI Securities

** Says, co's valuation at around 20% discount to peers Lemon Tree LEMO.NS and Chalet Hotels CHAL.NS

** BRIA up around 3% since listing on July 31

($1 = 88.2900 Indian rupees)

(Reporting by Nishit Navin in Bengaluru)

(([email protected]))

** Shares of SAMHI Hotels SAMH.NS fall 6.9% to 207.37 rupees, their biggest drop since mid-April

** Co posts a 14.6% drop in revenue from ops sequentially, PAT drops 58% vs last quarter to 192 million rupees

** The hotel operator's performance affected in MAY by short period of geopolitical issues, Chairman Jakhanwala says

** Analysts covering the stock rate it as "strong buy" on avg; median PT is 293 rupees, per data compiled by LSEG

** YTD, SAMH up ~4%

(Reporting by Komal Salecha)

(([email protected]))

Aug 12 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS - MAHANANDA SPA BUYS LAND IN UTTARAKHAND FOR 600 MILLION RUPEES

Source text: ID:nBSE5ppmfh

Further company coverage: CHAL.NS

(([email protected];))

July 31 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS JUNE-QUARTER CONSOL NET PROFIT 2.03 BILLION RUPEES

• CHALET HOTELS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 8.95 BILLION RUPEES

Source text: ID:nBSEWX16K

Further company coverage: CHAL.NS

(([email protected];))

** Indian Hotels IHTL.NS climbs 2.6% to 784 rupees

** JP Morgan begins coverage on hotelier with "overweight" and PT of 890 rupees

** IHTL's underlying fundamentals "remain strong," brokerage says; sees IHTL's FY30 targets being delivered ahead of schedule

** While traditional brands (Taj, Vivanta) contribute lion's share (~70%) of revenue, JPM expects revenue contribution from Ginger and its airline catering joint venture Taj SATS to grow to 25% by FY28

** Avg rating on IHTL, peers Lemon Tree LEMO.NS and Chalet Hotels CHAL.NS at "buy" - data compiled by LSEG

** YTD, IHTL and LEMO down ~11%, CHAL declines 7%

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

** Jefferies expects "healthy" Q1FY26 growth for Indian hotel firms, undeterred by some travel softness in May due to military conflicts between New Delhi and Islamabad

** Q1 "started on a strong note in April, extending Q4 performance and June is expected to see normalcy" - note

** Adds, hotel firms to continue to benefit from industry uptrends, including demand outstripping supply

** Taj-parent Indian Hotels Co Ltd IHTL.NS, ITC Hotels ITCT.NS and Chalet CHAL.NS are brokerage's top sectoral picks

** On the day, IHTL flat, ITCT edges up 0.2%. CHAL down 1%

** All three cos outperformed or were in-line with industry in terms of Y/Y Q4 revenue growth per available room, a key operating metric

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Rewrites throughout with details from the analyst call, share moves, background on debt, and analyst comment

By Hritam Mukherjee

April 24 (Reuters) - Singapore's sovereign wealth fund GIC will take 35% stakes in three individual units of SAMHI Hotels SAMH.NS for a total investment of 7.52 billion rupees ($88 million), as part of a joint plan to develop upscale hotels in India.

The three units - SAMHI JV Hotels, Ascent Hotels, and Inmar Tourism and Hotel - together operate four hotels in the Indian cities of Bengaluru and Pune, with two of the hotels Marriott MAR.O-branded and one more hotel still under construction, the Indian hotelier said on Thursday.

SAMHI said that out of GIC's total investment, 6.03 billion rupees will be majorly used towards scaling down SAMHI's debt - which some analysts have flagged as higher than peers.

Brokerage Prabhudas Lilladher, earlier this week, had said that over the next three years, SAMHI's net debt to core profit would still be higher than other hoteliers with debt, such as Chalet Hotels CHAL.NS and Lemon Tree Hotels LEMO.NS.

The company, whose debt as of 2024-end stood at 20.64 billion rupees, expects the deal to trim it by 5.8 billion rupees.

Once the deal closes, SAMHI JV will become debt free and Ascent will be left with a debt of roughly 2 billion rupees, SAMHI's Chief Executive Ashish Jakhanwala said in an analyst call.

The plan clears investor concerns around SAMHI's debt pile, Prabhudas Lilladher analyst Jinesh Joshi said. The company's shares were last trading 10% higher.

The $88 million deal is a part of a joint plan to create a $300 million venture aimed at developing upscale hotel assets in India - wherein GIC holds 35% share and SAMHI retains 65%.

The joint venture's focus will be to tap "acquisition and turnaround" opportunities in the urban business hotels segment, Jakhanwala added.

($1 = 85.5850 Indian rupees)

(Reporting by Hritam Mukherjee and Aleef Jahan in Bengaluru; Editing by Rashmi Aich)

(([email protected]))

** The medium-term demand outlook for India's hotel sector remains positive, ICICI Securities says

** Brokerage expects the hotels in its coverage universe to report double-digit RevPAR growth in Q4, as they did in Q3

** Sees annual recurring revenue CAGR of 6–8% over FY24–27, with 100-200 bps jump in occupancy in FY25 and FY26

** Reiterates "buy" on Indian Hotels IHTL.NS, Chalet Hotels CHAL.NS and Lemon Tree Hotels LEMO.NS

** Shares of IHTL, CHAL and LEMO ended 2%-3% higher on the day

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Jan 29 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS DEC-QUARTER CONSOL NET PROFIT 965.4 MILLION RUPEES

• CHALET HOTELS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 4.58 BILLION RUPEES

Source text: ID:nBSEG7sDl

Further company coverage: CHAL.NS

(([email protected];))

Jan 9 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS LTD - TO ISSUE NON CONVERTIBLE DEBENTURES FOR UPTO 750 MILLION RUPEES

Source text: ID:nNSEbK8NtW

Further company coverage: CHAL.NS

(([email protected];))

** Events such as religious festival Maha Kumbh Mela and Coldplay concerts, scheduled to be held between Jan.-Feb. 2025, will drive growth for Indian hotels in Q4, Elara Capital says

** Taj Ganges owned by Indian Hotel's IHTL.NS unit Benares Hotels BNRS.BO to benefit from Kumbh Festival in Prayagraj; Juniper Hotels JUNI.NS and others to benefit from Coldplay concerts in Mumbai and Ahmedabad - brokerage

** Says hotels sector witnessed good growth in Q3, led by high occupancy and double-digit growth in average room rate (ARR)

** Brokerage's top picks include Chalet Hotels CHAL.NS, JUNI, IHTL

** CHAL, JUNI, IHTL, and BNRS up 3.8%, 0.6%, 0.07%, and 0.6%, respectively

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Shares of Lemon Tree Hotels LEMO.NS rise 2.7% to a record high of 159 rupees

** Stock on track to seventh straight day of gains, if trend holds

** Reuters could not immediately ascertain the reason behind LEMO's move

** December marks LEMO's busiest in 4 months, with nearly 100 mln shares traded

** Analysts' avg rating on stock is "buy", same as that on peers Indian Hotels Co IHTL.NS and Chalet Hotels CHAL.NS - data compiled by LSEG

** Their median PT on LEMO is 153 rupees - LSEG data

** Stock up 30% YTD, vs 101% and 43% gains in IHTL and CHAL, respectively

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Axis Capital initiates coverage on Chalet Hotels CHAL.NS, Juniper Hotels JUNI.NS, The Indian Hotels Co IHTL.NS with 'buy', and Lemon Tree Hotels LEMO.NS with 'add'

CHALET HOTELS AND JUNIPER HOTELS

** Brokerage sees revenue and occupancy at CHAL and JUNI benefiting from premium brand affiliations (CHAL-Mariott; JUNI-Hyatt)

** CHAL and JUNI's assets all located near business centers and airports, targeting business travellers - brokerage

INDIAN HOTELS CO AND LEMON TREE HOTELS

** IHTL, which operates the iconic Taj Brand, and LEMO to benefit from premiumization

** Both IHTL and LEMO plan to increase the share of managed hotels in their portfolios, as part of an asset-light model strategy, a plus for management fee growth and profit margins - brokerage

** On the day, CHAL up 5.27% to 976 rupees ($11.50), LEMO up 1.56% to 145 rupees, while JUNI down 1.02% to 358.6 rupees and IHTL flat

($1 = 84.8625 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

Oct 24 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• SEPT-QUARTER CONSOL NET LOSS 1.38 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 3.77 BILLION RUPEES

• TO RAISE NON-CONVERTIBLE DEBENTURES WORTH 6 BLN RUPEES

Source text for Eikon: ID:nBSE3tdRc2

Further company coverage: CHAL.NS

(([email protected];;))

Oct 14 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS- REVERSAL OF DEFERRED TAX ASSET OF 2.03 BILLION RUPEES TO HAVE ONE-TIME IMPACT ON PAT

Source text for Eikon: ID:nNSE8Dbh8f

Further company coverage: CHAL.NS

(([email protected];))

Sept 24 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CLARIFICATION ON ALLEGED LETTER THAT SAYS CO APPROVED BID FOR SHARES

• SAYS LETTER FALSE AND NO SUCH MATTER CONSIDERED OR APPROVED

Source text for Eikon: ID:nNSE5ZnrJ1

Further company coverage: CHAL.NS

(([email protected];;))

Aug 29 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS LTD - GETS TOTAL TAX DEMAND OF 42.5 MILLION RUPEES

Source text for Eikon: ID:nBSE9svkGC

Further company coverage: CHAL.NS

(([email protected];))

July 1 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS - MILIND WADEKAR HAS CEASED TO BE CFO

Source text for Eikon: [ID:]

Further company coverage: CHAL.NS

(([email protected];))

May 13 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• CHALET HOTELS LTD - NITIN KHANNA WILL BE APPOINTED AS CHIEF FINANCIAL OFFICER

• CHALET HOTELS LTD - MILIND WADEKAR WILL STEP DOWN AS CFO

• CHALET HOTELS LTD MARCH-QUARTER CONSOL NET PROFIT 824.4 MILLION RUPEES VERSUS 367.1 MILLION RUPEES

• CHALET HOTELS LTD MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 4.18 BILLION RUPEES VERSUS 3.38 BILLION RUPEES

Source text for Eikon: ID:nBSE78Xzkx

Further company coverage: CHAL.NS

(([email protected];))

April 30 (Reuters) - Chalet Hotels Ltd CHAL.NS:

• GETS TAX ORDER FOR DEMAND AT 1.9 MILLION RUPEES

Source text for Eikon: ID:nBSE1MLBcT

Further company coverage: CHAL.NS

(([email protected];))