Company has also released their Q1FY25 presentation. Some interesting snippets:
- Occupancy rates were lower across properties due to General Election period resulting in Y-o-Y decline in revenues
- This was expected but no new keys additions is brutal.
- Lower Occupancy rates combined with ongoing Capex at Lotus Goa and Orchid Hotel Pune resulted in decline in EBITDA
- This is the first time that the company has mentioned this capex. So far it doesn’t look like the company is any closer to achieving its guided EBTIDA. Last time as well, they didn’t reach their guidance except that time they had a solid reason of buying back NCDs
- Doesn’t look like they have added any new keys so far in this quarter, not sure how they’re going to achieve their revenue growth
- Haven’t reduced their guidance as well in the ppt.
Next concall is key. If management doesn’t provide suitable reasons and detailed turnaround plan, it’s time to cut my losses
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