Latest news with #AnuraagBhatnagar
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Business Standard
9 hours ago
- Business
- Business Standard
Leela Palaces Hotels operator posts consolidated net profit of ₹9 crore
Schloss Bangalore, the owner of the luxury hotel chain Leela Palaces Hotels and Resorts, reported a consolidated net profit of Rs 9 crore in the June quarter, its first after listing on the bourses early last month, reversing a net loss of Rs 75 crore in the same period last year. Meanwhile, its consolidated revenue from operations grew by 20 per cent to Rs 274.8 crore, up from Rs 228.2 crore in the year-ago period. Further, the company's revenue per available room (RevPAR) grew by 20 per cent, driven by a 13 per cent higher average daily rate (ADR), strong occupancy, and customers' increasing willingness to pay a premium for services. Occupancy rates for the group grew by 4 per cent to 63.6 per cent in the quarter. This RevPAR growth was higher than the industry average of 10 per cent, Anuraag Bhatnagar, Chief Executive Officer, told analysts on a post-earnings call. He added that the growth is likely to continue in the coming years, driven by the chain's expansion plans and a sustained supply gap in the luxury hospitality segment. According to consultancy firm HVS, the industry has approximately 170,000 branded keys, of which only 29,000 are luxury branded keys – a mere 17 per cent. This gap is expected to grow further, with luxury demand set to witness a compound annual growth rate (CAGR) of 13.7 per cent between 2025 and 2028, while luxury supply is expected to see a CAGR of 8.8 per cent. Leela Hotels currently operates 13 properties with 3,544 keys across 11 cities in India, including five owned, seven managed, and one franchised hotel. 'We are entering a defining phase of growth with eight hotels under development, including our strategic expansion into Mumbai through a landmark mixed-use development in Bandra Kurla Complex featuring a 250-key ultra-luxury hotel, complementing the 63 high-end serviced apartments under development near Mumbai International Airport,' Bhatnagar stated in a release. The serviced apartments are slated for completion by FY27. In total, this will add 966 keys to the chain's portfolio with an investment of Rs 400 crore for same-store sales growth, out of which Rs 100 crore has already been spent. 'We have Rs 1,130 crore on the contracted cycle for five hotels, which will be spent in the next 2.5 years,' management told analysts on the call. Further plans include expansion into high-growth markets including Agra, Srinagar, Ayodhya, Ranthambore, Bandhavgarh, and Sikkim, while enhancing existing assets, such as adding new banquet space at Leela Palace Delhi in the second quarter, new plunge pool villas at Leela Palace Udaipur by the March quarter, and launching its by-invitation-only private members' club ARQ in New Delhi, Bengaluru, and Chennai this year.
Time of India
10 hours ago
- Business
- Time of India
Schloss Bangalore reports revenues of Rs 275 crore for Q1FY26, PAT at Rs 9 crore
Schloss Bangalore , operator of The Leela Palaces Hotels and Resorts has reported consolidated revenue from operations of Rs 275 crore for the quarter ended June, up 21% year on year. The chain posted a profit of Rs 9 crore for the quarter compared to a loss of Rs 75.4 crore in the corresponding period of the previous fiscal. The chain said marking its debut as a publicly listed company, The Leela delivered its 'best-ever' first-quarter performance. CEO Anuraag Bhatnagar said the chain's total revenue grew 25% to Rs 301.3 crore, and EBITDA rose 63% to Rs 128 crore, supported by a 20% year-on-year revenue per available room increase, with market share gains that 'outpaced' the luxury hospitality sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2 Insane Cards Now Charging 0% Interest Until Nearly 2027 CompareCredit Undo 'The performance underscores the strength of India's luxury travel market and the demand for The Leela's distinctive experiential offerings,' he said. 'We are entering a defining phase of growth with 8 hotels under development, including our strategic expansion into Mumbai through a landmark mixed-use development in BKC featuring a 250-key ultra-luxury hotel, complementing the 63 high-end serviced apartments under development near Mumbai International Airport,' he added. The luxury hospitality chain said occupancies were up 4% year on year to 63.6% in quarter one of financial year 2026, while average daily rate was Rs 18,817, up 13% year on year. Live Events Its EBITDA margins expanded to 42.5% driven by operating leverage, and the chain-owned hotels across all markets posted double-digit revenue per available room growth. The Leela currently operates 13 properties with 3,544 keys across 11 cities in India -comprising five owned, seven managed, and one franchised hotel. 'The Company is well-positioned to deliver a robust mid-to-high teens EBITDA growth in financial year 2026, driven by strong operating momentum and continued strategic execution,' the chain said in a statement.
Time of India
12 hours ago
- Business
- Time of India
Schloss Bangalore Q1 results: Leela Palace operator reports Rs 9 crore PAT vs Rs 75 crore YoY loss
Schloss Bangalore , the operator of The Leela Palaces, Hotels and Resorts, reported a consolidated net profit of Rs 9 crore in Q1 versus a loss of Rs 75 crore in the year ago period. The company's revenue grew 20% year-on-year at Rs 275 crore against Rs 228 crore reported in the year-ago period. The profit after tax (PAT) fell 92% on a sequential basis versus Rs 117 crore reported in Q4FY25. The topline fell 35% compared to Rs 425 crore posted in the January-March quarter of FY25. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Degree Data Science MCA Leadership Digital Marketing Data Analytics Project Management Product Management others Management PGDM Technology Cybersecurity Data Science Operations Management Finance CXO Others Healthcare Artificial Intelligence Design Thinking MBA healthcare Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details The total revenue in the reported quarter stood at Rs 301 crore, witnessing a 25% YoY jump. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 128 crore, gaining 63% on a YoY basis while the EBITDA margin was reported at 42.5%, up by 980 bps YoY. Also Read: Paytm Q1 Results: Co swings to black, logs Rs 122 crore profit vs YoY loss; revenue jumps 28% Live Events Operating revenue increased 17% YoY while operating EBITDA grew 39% reflecting sustained customer preference for The Leela's distinctive luxury experience and strong pricing power, the company filing to the exchanges said. The occupancy stood at 63.6% in the April-June quarter of FY26, which saw an uptick of 4% over a year ago period. The company saw improvement in cost ratios driven by continued focus on operational efficiencies in staffing, F&B, and utilities. Growth was further supported by a rise in bookings through direct channels - especially at resort locations - along with strong demand in MICE and F&B verticals "Our owned hotels across all markets posted double-digit RevPAR growth underscoring the brand's leadership in India's luxury hospitality segment," the company statement said. Also Read: ZEE Q1 Results: Cons PAT jumps 22% YoY to Rs 144 crore, but revenue falls 14% Commenting on the results, CEO Anuraag Bhatnagar said that he was pleased with the first-quarter performance. "The performance underscores the strength of India's luxury travel market and the demand for The Leela's distinctive experiential offerings. We are entering a defining phase of growth with 8 hotels under development, including our strategic expansion into Mumbai through a landmark mixed use development in BKC featuring a 250-key ultra-luxury hotel, complementing the 63 high end serviced apartments under development near Mumbai International Airport,' he said.
News18
12 hours ago
- Business
- News18
Schloss Bangalore reports Q1 net profit at Rs 8.7 cr
Agency: PTI New Delhi, Jul 22 (PTI) Hospitality firm Schloss Bangalore Ltd, which operates luxury hotel chain under 'The Leela' brand, on Tuesday reported a consolidated net profit of Rs 8.7 crore in the first quarter ended June 2025. The company had posted a consolidated net loss of Rs 74.99 crore in the corresponding period of the last fiscal, Schloss Bangalore Ltd said in a regulatory filing. Its consolidated revenue from operations in the quarter under review stood at Rs 274.79 crore against Rs 228.24 crore in the year-ago period, it added. The company's total expenses were higher at Rs 173.36 crore in the first quarter compared to Rs 161.9 crore a year ago. Schloss Bangalore CEO Anuraag Bhatnagar said it was supported by a 20 per cent year-on-year RevPAR (revenue per available room) growth, with market share gains that outpaced the luxury hospitality sector. The company said growth was further supported by a rise in bookings through direct channels – especially at resort locations – along with strong demand in MICE and F&B verticals. On the way ahead, Bhatnagar said, 'We are entering a defining phase of growth with eight hotels under development, including our strategic expansion into Mumbai through a landmark mixed-use development in BKC, featuring a 250-key ultra-luxury hotel, complementing the 63 high-end serviced apartments under development near Mumbai International Airport". The Leela currently operates 13 properties with 3,544 keys across 11 cities in India, comprising five owned, seven managed, and one franchised hotel. PTI RKL BAL BAL view comments First Published: July 22, 2025, 17:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
2 days ago
- Sport
- Mint
England and Wales Cricket Board secure hosting rights for World Test Championship finals till 2031; check details
The England and Wales Cricket Board (ECB) has secured the hosting rights of the World Test Championship (WTC) finals for the next three editions, the International Cricket Council (ICC) announced. This decision, announced during ICC's Annual General Meeting (AGM) in Singapore on July 20, 2025, confirms that ECB, which successfully hosted the previous three WTC finals in 2021, 2023, and 2025, will remain the epicenter of Test cricket's pinnacle event until 2031. The ICC's decision to award hosting rights to the ECB for the next three WTC finals reflects confidence in their ability to manage high-profile cricket events. 'The Board also confirmed the awarding of hosting rights for the ICC World Test Championship Finals for the 2027, 2029, and 2031 editions to the England and Wales Cricket Board, following a successful track record in hosting recent finals,' the ICC stated. 2021, Southampton's Rose Bowl: New Zealand clinched the inaugural title, defeating India. 2023, The Oval, London: Australia triumphed over India, showcasing their dominance in the red-ball format. 2025, Lord's, London: South Africa claimed the title, overpowering Australia in a thrilling clash last month. The ICC AGM also addressed other matters. The ICC welcomed the Timor Leste Cricket Federation and the Zambia Cricket Union as Associate Members, increasing its membership to 110. USA Cricket was granted a three-month period to implement governance reforms, including conducting fair elections. The ICC Chief Executives' Committee (CEC) saw new appointments, with Mr. Gurumurthy Palani (France Cricket), Mr. Anuraag Bhatnagar (Cricket Hong Kong, China), and Mr. Gurdeep Klair (Cricket Canada) elected as Associate Member representatives. The ICC outlined its initiative to support displaced women cricketers of Afghan descent, led by Deputy Chair Mr. Imran Khwaja in collaboration with the Board of Control for Cricket in India (BCCI), ECB, and Cricket Australia (CA). These players will have opportunities to participate in ICC events, including the Women's Cricket World Cup 2025 and the T20 World Cup in England next year, alongside access to high-performance programs and domestic playing opportunities.
