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Chalet Hotels Ltd.

BSE: 542399 Sector: Services
NSE: CHALET ISIN Code: INE427F01016
BSE 12:28 | 12 Aug 337.55 5.70
(1.72%)
OPEN

333.10

HIGH

340.80

LOW

330.95

NSE 12:19 | 12 Aug 337.70 5.35
(1.61%)
OPEN

333.00

HIGH

340.50

LOW

330.65

OPEN 333.10
PREVIOUS CLOSE 331.85
VOLUME 14870
52-Week high 345.00
52-Week low 159.20
P/E
Mkt Cap.(Rs cr) 6,920
Buy Price 337.10
Buy Qty 5.00
Sell Price 337.80
Sell Qty 56.00
OPEN 333.10
CLOSE 331.85
VOLUME 14870
52-Week high 345.00
52-Week low 159.20
P/E
Mkt Cap.(Rs cr) 6,920
Buy Price 337.10
Buy Qty 5.00
Sell Price 337.80
Sell Qty 56.00

Chalet Hotels Ltd. (CHALET) - Chairman Speech

Company chairman speech

Battling the odds with a resolute response

"We are pleased with the progress we have made in weathering thestorm to date. While the pandemic is far from over more and more people are gettingvaccinated every day giving us hope that we are getting closer to normalcy. The timingfor a full recovery cannot be predicted and recovery timelines are going to vary greatlyby region but we are optimistic about the return of travel."

Hetal Gandhi

Chairperson and Independent Director

Dear Shareholders

Arthur Golden said "Adversity is like a strong wind. It tears awayfrom us all but the things that cannot be torn so we see ourselves as we reallyare". The pandemic and its aftermath have had a deep impact on society businessesand the economy. The Management of your Company reacted swiftly to address and mitigatethe impact of the pandemic on our business. We shored up our liquidity reduced costs bothabove property and at the hotel level and adjusted many of our operating protocols with afocus on elevating our cleanliness standards. Our brand partners rolled out customisedsafety and business continuity plans with Accor launching ‘ALL Safe' andMarriott International's ‘Commitment to Clean' with the endeavour toprovide a safe hospitality experience. In addition to continued focus on cost-savinginitiatives underutilised and underperforming assets were repurposed to provide a moresustainable stream of revenue in the coming years. Capital expenditure of ` 1159 millioncontributed to the increase in net debt for the year by ` 2141 million to ` 18711million. The strategic mix of asset classes helped in achieving break-even in operatingprofits for the year. Chalet recorded EBITDA of ` 253 million including EBITDA fromdiscontinued operations against a revenue of ` 3167 million for the year and profitafter tax was at ` (1391) million.

We are pleased with the progress we have made in weathering the stormto date. While the pandemic is far from over more and more people are getting vaccinatedevery day giving us hope that we are getting closer to normalcy. The timing for a fullrecovery cannot be predicted and recovery timelines are going to vary greatly by regionbut we are optimistic about the return of travel.

Chalet Hotels continues to seamlessly integrate environmental socialand governance practices into its operations. The sustainability initiatives are driven bythe commitment to achieve energy efficiency with a focus on renewable resources waterconservation and recycling measures to name a few. Additionally Chalet has achievedconsistent reduction in the deployment of single-use plastic and paper. Chalet Hotels hasalso applied to the Climate Group's EV100 initiative across its propertiescontributing to reduction of harmful emissions. This will help accelerate a shift to cleantransport and reduce air pollution across our hotels.

The growth and development of our people continues to be a priorityalong with increased sensitisation on inclusivity and gender diversity. In a year rifewith adversities Chalet enhanced its commitment towards society and continued its CSRinitiatives involving skill development of persons with disabilities supportinghealthcare initiatives in partnership with hospitals providing meals to frontlinewarriors and essential supplies to the marginalised.

Chalet Hotels' Board of Directors endorse good corporategovernance practices with majority of the Board being independent. Maintenance of highlevels of adherence with regulatory requirements are fairly evaluated and strengthened.Chalet's policy and priorities concerning Environment Social and Governanceinitiatives are articulated in its ESG Report which will soon be made available onwww.chalethotels.com.

Among Chalet's core pillars of value creation ‘Identifyinghigh-potential locations' > ‘Build efficiently' > ‘Partner withthe best' > ‘Drive performance across the Board' have been held in goodstead through turbulent waters with a stronger path to continued returns on investmentsdefined. We are grateful that FY 2020-21 is behind us. As we look ahead we know that ourguests are eager to get on the road and get together in person. So many life events havebeen postponed - weddings reunions anniversaries. There is simply no virtual replacementfor that. We believe we are well positioned to meet the needs of all of our guests as soonas they are ready to travel again. Without a doubt we have a lot of work ahead as wenavigate through the pandemic. We continue to have great confidence in the strength of ourPartners and Management team. We offer our best wishes that everyone stays safe andhealthy and we look forward to seeing you soon at one of our hotels.

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