Have visited Park Hotel in Navi Mumbai (Owned) and The Park Calangute Goa (managed). While the Navi Mumbai property averaged 88-90% occupancy in May, the Calangute property was consistently booked at 100%. Q1 occupancy rates would be published today.
Revenue is a function not only of the number of keys but also the ARR of the new rooms coming up. The room expansion will happen in a phased manner during FY25, however with Flury’s expansion and an ARR increase of ~5%, we can easily build in a 10-12% growth rate. PAT will be significantly higher since interest cost savings of Rs 15 cr per quarter will accrue from Fy25 onwards.
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