Q1 2027 Samhi Hotels Ltd Earnings Call Transcript
Key Points
- Same-store RevPAR grew 9.6% year-on-year to approximately INR5,220, with portfolio occupancy up to 79.3% from 74.2%.
- Comparable revenue growth was 10.8% year-on-year, excluding one-time items, and same-store total revenue growth was around 9-9.5%, within the guided 9-11% range.
- Finance costs declined by 25.5% year-on-year, and net debt-to-EBITDA improved to approximately 3.2x on a trailing twelve-month basis.
- Domestic travelers now make up 82% of room nights sold, providing resilience against international travel disruptions.
- The company has a strong growth pipeline with 1,660 rooms across seven new hotels in upper upscale and upscale segments, expected to increase upscale revenue share from 41% to 60% by FY2030.
- RARE India platform has expanded to 75 hotels and is expected to generate INR35-40 crores EBITDA within two years, with a high return on capital employed.
- July 2026 trends show stronger performance with rate growth returning, indicating a positive outlook for H2 FY2027.
- Reported EBITDA was lower by 4% year-on-year due to one-time items and GST impact, though comparable EBITDA grew 12.1%.
- ARR growth was nearly flat year-on-year, with rate growth diluted by softer international business due to geopolitical disruptions.
- F&B revenue growth slowed to 3.7% due to lower international traveler spending, a restaurant renovation, and event cancellations.
- The GST regime change from 12% with input tax credit to 5% without it negatively impacted margins, particularly in mid-scale hotels.
- The company has taken an enabling resolution for a capital raise of INR750 crores, which may create an overhang of potential equity dilution for investors.
- The Itmenaan Estate acquisition in Uttarakhand has underperformed recently, though management expects improvement with RARE relisting.
- The Navi Mumbai project is large and will require significant capital, with major investments expected in FY2029-FY2030, and construction is expected to take 3-4 years.
Ladies and gentlemen, good day and welcome to the Q1 FY2027 earnings conference call of SAMHI Hotels Limited. This conference call may contain forward-looking statements about the company which are based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and involved risks and uncertainties that are difficult to predict.
(Operator Instructions)
I now hand the conference over to Mr. Ashish Jakhanwala, MD and CEO of SAMHI Hotels Limited. Thank you and over to you sir.
Good morning, everyone and welcome to SAMHI Hotels quarter one financial year 2027 Earnings Call.
Thank you for taking the time to join us today. I am joined by our CFO, Rajat Mehra, our EVP and Head of Investments, Gyana Das, and Nakul, our SVP of Investments. Our Investor Relation Partners, Strategic Growth Advisors are also on the call. We have uploaded
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