Park Hotels consolidated EBITDA margin for FY24 was 35% and is going to go up further: Vijay Dewan
Vijay Dewan, MD, Apeejay Surrendra Park Hotels, the overall consolidated EBITDA margin of the company for the year which has gone by has been at 35% and going forward with the steps which have been taken to improve efficiencies, this is going to improve upwards. There is a huge demand-supply mismatch in the market and the group is also upgrading the hotels. 10% of the inventory is going to be upgraded this year and higher average room rates are expected going forward.
Q4 was a pretty strong quarter for you. But the question now is do you see similar growth trends continuing even from here? Also, tell us about your expansion plans.
Vijay Dewan: During the year which is ahead of us, we are going to add about 238 rooms, out of which 52 rooms are going to be added in the palace category, the Ran Bass Palace by the Park at Patiala and the Chettinad Palace by the Park at Chettinad and additional hotels. And these palace hotels are high average room rate hotels and this is going to significantly drive our growth going forward.
In addition to this, in terms of development, we are going to launch three large projects. The development work for our hotel in Pune is going to start in the month of September and this hotel will be completed in about three years’ time. Thereon, we move on to add a 250 room development project along with 100 serviced apartments at EM Bypass in Calcutta. This is a mega project and this will be launched in January, February of the current financial year.
Unlock Leadership Excellence with a Range of
Read more on economictimes.indiatimes.com
