EBITDA jumped 19.05% to Rs 175.3 crore in Q4 FY24 as compared to Rs 141.9 crore in Q4 FY23. EBITDA margin expanded to 52.9% in the fourth quarter as compared to 55.7% in the corresponding period last year.

In Q4 FY24, Gross ARR (average revenue per room) jumped 13.41% to Rs 6,605, Occupancy rate fell to 72% from 73.6% in Q4 FY23. RevPAR (revenue per available room) increased 11% to Rs 4,754 as against Rs 4,287.

For the full year, the company reported 29.28% increase in consolidated net profit to Rs 181.70 crore on 22.41% rise in revenue from operations to Rs 1,071.12 crore in FY24 over FY23.

Patanjali Keswani, chairman & managing director said, “Fees from management & franchised contracts for 3rd party owned hotels stood at Rs. 14.4 Cr in Q4 FY24 up 34% from Rs. 10.7 Cr in Q4 FY23. Total management fees for Lemon Tree in Q4 were up 48% Y-o-Y at Rs. 41.2 Cr compared to Rs. 27.8 Cr in Q4 FY23. The total management fee for the full year stood at Rs. 134.3 which is up 30% over FY23

Owned hotel level revenue for the quarter from the owned portfolio increased by 28% Y-o-Y and the Network Revenue for Lemon Tree (i.e. total system revenue of owned including Aurika, MIAL and managed/franchised hotels) increased by 31% Y-o-Y. Total network revenue for the full year stood at Rs. 1,621 Cr for FY24 as compared to Rs. 1,330 Cr in FY23 which translates to an increase of 22%.

The debt for the company increased by Rs 143.3 crore from 1745.7 crore in FY23 to 1889.1 crore in FY24 owing to borrowing against Aurika, Mumbai SkyCity. The cash profit for the company increased by 24% Y-o-Y from Rs 237.1 crore in FY23 to Rs 293.8 crore in FY24. During the quarter, we signed 12 new management & franchise contracts which added 667 new rooms to our pipeline and operationalized 4 hotels which added 176 rooms to our portfolio. As of 31st March, 2024 the inventory for the group stands at 104 operational hotels with 9,863 rooms, and our pipeline comprises an additional ~4000 rooms. As of today, we are pleased to announce that our operational inventory has crossed 10,000 rooms. We expect our operational inventory to be 120+ hotels with over 11,000+ rooms by end of FY25.”

Lemon Tree Hotels (LTH) is the largest mid-priced hotel sector chain, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of 30 June 2017, according to the Horwath Report. LTH operates in the mid-market sector, consisting of the upscale, upper midscale, midscale and economy hotel segments and seeks to cater to Indian middle-class guests and deliver differentiated yet superior service offerings, with a value-for-money proposition.