Hotels & Restaurants
Hotels
from 898 today
Renovation at the Vashi property is largely complete and construction at Powai is largely on track for completion by 2QFY27, supporting recovery in Mumbai occupancies.
Chalet Hotels is well-positioned to benefit from India's structural hospitality upcycle, supported by a healthy expansion pipeline, commercial revenue growth, and strong domestic demand.
We continue to prefer Chalet Hotels as our top pick within our coverage universe, supported by favourable demand-supply dynamics and resilient domestic travel.
Chalet Hotels reported a subdued 1QFY27 performance due to a RevPAR miss on occupancy and ongoing construction in the MMR region, though core business margins outperformed expectations.
We maintain our BUY rating on the stock with a target price of Rs 1,000/share, implying an upside of 24% from CMP, supported by a decent quarter and a healthy expansion pipeline.
Chalet Hotels reported Q1FY27 hospitality revenue and EBITDA growth of 9% and 11% YoY, respectively, and maintains a strong asset expansion pipeline expected to drive a 20% EBITDA CAGR over FY26-29E.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
