Leela reports operating revenue of Rs 353 cr for Q1, PAT at Rs 48.8 cr

New Delhi: Leela Palaces Hotels & Resorts reported an operating revenue of Rs 352 crore for the first quarter of the current fiscal, up 28% year-on-year. The luxury hospitality chain also reported a more than fivefold jump in its net profit to Rs 48.8 crore during the quarter.

Anuraag Bhatnagar, Whole-time Director and CEO, said the first-quarter performance reflects the "enduring strength" of The Leela brand and the "structural opportunity" the chain sees in India's underserved luxury hospitality market.

"We delivered a 28% operating revenue growth and a 41% rise in operating EBITDA, demonstrating the strong operating leverage of our business model," he said.


"Our robust revenue per available room (RevPAR) growth of 17%, despite temporary international travel headwinds, was driven by our continued leadership in average daily rates and our ability to capitalise on growing domestic leisure and MICE demand," he added.

The chain reported an occupancy rate of 67.5% and an average daily rate (ADR) of Rs 20,722 for its owned domestic hotels. Its operating EBITDA stood at Rs 143.4 crore during the quarter.

The company said it continues to expand into India's "highest-value" luxury destinations while maintaining a balanced portfolio of owned and managed assets.

During the quarter, the chain signed a concession agreement for a new 30-key wildlife resort in the Tadoba Tiger Reserve in Maharashtra. The Leela Tadoba will be spread across 62 acres, with an estimated capital expenditure of Rs 120 crore. The project is targeted for completion by calendar year 2030.

The chain's portfolio currently comprises 25 properties, including 15 operational hotels with 4,162 keys and a pipeline of 10 hotels with 1,095 keys, spanning a mix of owned and managed assets.

The company also expanded ARQ by The Leela with its second club in New Delhi and launched the rebranded The Leela Coorg Forest Sanctuary this month.