About the Company:
Chalet Hotels Ltd is a owner, developer and asset manager of high-end hotels in key metro cities in India.
Company’s hotel platform comprises five operating hotels, including a hotel with a co-located serviced residence, located in the Mumbai Metropolitan Region, Hyderabad and Bengaluru, representing 2,328 keys, as of March 31, 2018.
Company’s hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments.
The hotels are currently branded with global brands such as JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance and Four Points by Sheraton which are held by Marriott Hotels.
Chalet Hotels is part of K. Raheja Corp group which is a leading business group in India.
The companies forming part of the K. Raheja Corp group (“K. Raheja Companies”) have extensive experience in developing large scale real estate, hospitality and commercial projects.
Hotels Managed by Third Party Hotel Operators.
Company owns four hotels, including a hotel with a co-located serviced residence, which are managed by third parties, which represent 2,176 keys. These hotels accounted for 88.2% of the revenue from operations for the financial year 2018.
The table below provides certain details of the hotels which are managed by third parties:
The table below provides certain details of hotel operated by the Company:
Key Parameters for Hotels Managed by Third Parties:
Upcoming Hotels under Development:
Company’s Commercial and Retail Business:
Company has developed two projects representing approximately 0.86 million square feet, adjacent to the hotel properties. These projects accounted for 2.69 % of the revenue from operations for the financial year 2018.
These projects are located on freehold land owned directly by the Company. Company gets lease and rental income from these properties. All the Commercial Projects have 100% Occupancy.
The table below provides certain details of company’s commercial and retail projects.
- Mr. Hetal Gandhi (Designation: Chairman and Independent Director)
- Mr. Ravi C. Raheja (Designation: Non-Executive Director)
- Mr. Neel C. Raheja (Designation: Non-Executive Director)
Positives for the Company:
High-End Branded Hotels Strategically Located in Key Metro Cities of India.
Company’s hotels are branded with globally recognized hospitality brands and are in the luxury-upper upscale and upscale hotel segments. All the hotel assets are located in high density business districts of key metro cities in India,
Currently, all the hotels are branded with global brands, such as, JW Marriott, Westin, Marriott, Marriott Executive Apartments, Renaissance and Four Points by Sheraton, which are held by Marriott.
Financials of the Company: (Consolidated)
|(in Crores)||FY 14||FY 15||FY 16||FY 17||FY 18||30th Sept 18|
Valuation of Peer Group Companies:
|Company Name||Face Value||EPS||PE Ratio||RoNW||NAV|
|Chalet Hotels Ltd||10||1.66||168.67||5.74%||28.96|
|The Indian Hotels Company Limited||1||0.91||146.21||2.09%||41.69|
|Lemon Tree Hotels Ltd||10||0.18||405.83||1.17%||15.81|
|Issue Opens on||29th January 2019|
|Issue Closes on:.||31st January 2019|
|Issue Price||Rs.275 – 280|
|Minimum Lot||53 Shares|
|Issue Size||Rs.1641 cr ($231 Million)|
|Market Cap||Rs.5740 cr ($808 Million)|
|Listing at||NSE & BSE|
|Equity Shares Offered (Fresh)||3,39,28,571|
|Equity Shares Offered (OFS)||2,46,85,000|
|Total Equity Shares Offered (Fresh + OFS)||5,86,13,571|
|Equity Shares Prior to the Issue||17,10,95,293|
|Equity Shares after the Issue||20,50,23,864|
|Finalization of Basis of Allotment||On or before 5th February 2019|
|Initiation of Refunds||On or before 6th February 2019|
|Credit of Equity Shares:||On or before 7th February 2019|
|Listing Date:||On or before 8th February 2019|
|(Subscription-Category-Wise (no. of times) Till time : 06:00 PM)||Shares Offered||Day-1||Day-2||Day-3|
IPO Valuation Parameters:
|Earnings Per Share (EPS)||Price To Earnings ratio (PE)||Return on Net Worth (RoNW)||Net Asset Value (NAV)|
Grey Market Premium :
|IPO||Price Band||Grey Market premium||Kostak Rates|
|Chalet Hotels Ltd||Rs.275 – 280||Will be Updated||Will be Updated|
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|Company Contact Info:|
|Chalet Hotels Limited
Raheja Tower, Plot No.C-30
Block ‘G’, Next to Bank of Baroda,
Bandra Kurla Complex, Bandra (East)
Mumbai 400 051 Maharashtra, India
Telephone: +91 22 – 26564000
|IPO Registrar Info:|
|Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32
Gachibowli, Financial District
Nanakramguda, Hyderabad 500 032 India
Tel: +91 40 6716 2222
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