Latest news with #SchlossBangalore
Skift
2 days ago
- Business
- Skift
The Leela's First Earnings Report Post-IPO: Launches New Mumbai Venture
The Leela is entering a new phase of expansion following IPO, but it is not straying away from its luxury proposition as it focuses on expanding offerings at its current properties. Schloss Bangalore, the parent company of The Leela, is expanding into Mumbai with an ultra-luxury hotel in the Bandra Kurla Complex (BKC), one of India's most prominent business districts. The development will include more than 250 rooms and will be fully owned by the company, executives said Tuesday during Schloss Bangalore's first earnings call following its IPO. According to The Leela, BKC hasn't seen any new hotel supply since 2011. 'Bandra Kurla Complex has huge untapped demand for hospitality,' said Chief Financial Officer Ravi Shankar during the call. 'With no new hotel supply since 2011, the market has only 39 keys per million square feet of office space, while Delhi
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Business Standard
2 days 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
2 days 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
2 days 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.
Business Standard
2 days ago
- Business
- Business Standard
Schloss Bangalore reports consolidated net profit of Rs 8.77 crore in the June 2025 quarter
Sales rise 20.40% to Rs 274.79 croreNet profit of Schloss Bangalore reported to Rs 8.77 crore in the quarter ended June 2025 as against net loss of Rs 74.99 crore during the previous quarter ended June 2024. Sales rose 20.40% to Rs 274.79 crore in the quarter ended June 2025 as against Rs 228.24 crore during the previous quarter ended June EndedJun. 2025Jun. 2024% 20 OPM %36.9129.07 -PBDT42.05-40.57 LP PBT15.68-78.95 LP NP8.77-74.99 LP Powered by Capital Market - Live News
