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SAMHI Hotels Limited (BSE: 543984) (NSE: SAMHI) a prominent branded hotel ownership and asset management platform in India, announced its unaudited Standalone and Consolidated results for the quarter ended 30^th September 2023. 

Commenting on the performance, Mr. Ashish Jakhanwala, Chairman, Managing Director and Chief Executive Officer, SAMHI Hotels Ltd. said, “Demand for travel and hotels in India will continue to grow on the back of India’s economic growth. Our portfolio is strategically located in major cities and features highly recognized brands, enabling us to capitalize on market opportunities. 

We are very excited about the next 12 – 24 months as we integrate the ACIC portfolio, complete renovation and rebranding of 900+ rooms in our existing portfolio and add additional inventory.  This combined with the continued improvement in performance of our existing portfolio will allow us to maintain a strong growth momentum”.    

Increase in office supply, recovery in airline passengers and continued demand for travel and tourism led to Company witnessing healthy performance indicators for the quarter 

Portfolio occupancy    : 72.0% 

ARR Growth                   : 14.7%  

RevPAR Growth            : 16.4%  

Asset Income and Asset EBITDA grew at 25.3% and 29.8% respectively over Q2FY23. The growth was driven by strong performance of the portfolio, which is concentrated in key metros, coupled with the acquisition of the ACIC portfolio during August 2023. 

Consolidated Financial Highlights: 

The company has also utilised IPO proceeds to significantly reduce debt and finance cost. Strong growth of its income and the reduction in interest expense is set to provide Company clear path towards profitability, financial flexibility for funding growth and further reduction in debt. 

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