Advani Hotels & Resorts marks a stellar FY24 with top awards and strong ESG efforts, underscoring its commitment to excellence and sustainability.

Advani Hotels & Resorts (India) Ltd. has officially ratified its unaudited financial results for the quarter and full year concluding on March 31, 2024.

Financial Overview in INR Lakhs:

Item Description	Q4 FY24	Q4 FY23	FY24	FY23
Total Income	3,353	3,098	10,844	10,063
Operating Expenses	1,825	1,583	7,152	5,948
EBITDA	1,528	1,514	3,692	4,115
EBITDA Margin (%)	45.6	48.9	34.0	40.9
Profit Before Tax	1,438	1,440	3,349	3,836
Income Tax (incl. Deferred)	379	347	854	976
Profit After Tax	1,059	1,093	2,496	2,860
Total Room Nights Sold	15,471	16,618	57,685	57,320
Occupancy (%)	87.6	95.4	83.9	82.5
TRevPOR (INR)	21,675	18,641	18,798	17,556
Liquid Fund Reserves	4,488	3,321	4,488	3,321

Performance Highlights for the Year Ending March 2024:

• Revenue Growth: The company reported an 8% year-over-year increase in revenue despite fewer tourists visiting Goa. This was supported by 45 weddings hosted by Caravela, marking a record for the hotel’s wedding business, alongside gains in Meetings, Incentives, Conferences, and Exhibitions (MICE).
• EBITDA Margin: The EBITDA margin reduced to 34% due to increased investment in the workforce and upgrades required for maintaining the hotel’s 5-Star DELUXE rating.
• Occupancy and Revenue per Room: The hotel’s occupancy rose slightly from 82.5% to 83.9%. The Total Revenue per Occupied Room per night also saw an increase from INR 17,556 to INR 18,798.
• Financial Health: The company remains debt-free, maintaining robust Liquid Fund Reserves totaling INR 4,488 lakhs.
• Dividends: Advani Hotels & Resorts declared a 40% interim dividend, contributing to the highest annual dividend payout in the company’s history.
• Shareholder Returns: The dividend payout ratio stood at 67% of the net profit, highlighting the company’s commitment to rewarding its shareholders generously.

Commenting on the results Mr. Sunder G. Advani, Chairman & Managing Director of
Advani Hotels & Resorts (India) Limited said;
“We are excited to report that the revenue for Q4 & FY24 has set a new record as the highest
ever quarterly and full year revenue in the history of the Company. This achievement reflects
consistent revenue growth, given the highest number of weddings we have done this year.
With a significant contribution to our exceptional occupancy rate, we are dedicated to sustain
this momentum in FY25 with continued growth driven by MICE and leisure travel. As we move
ahead, we are optimistic about our future and remain committed to investing in our business to
enhance our value proposition for our guests. Caravela Beach Resort has been awarded 5-
Star DELUXE classification by the Ministry of Tourism, Government of India for next 5 years
upto December 10, 2028.”

Advani Hotels & Resorts (India) Ltd. has distinguished itself not only through robust financial performance but also by garnering numerous accolades and advancing significant environmental, social, and governance (ESG) initiatives in the fiscal year 2024.

Awards and Recognition:

• Booking.com Travellers Review Award 2024: For the seventh year running, Caravela Beach Resort, Goa, has earned this accolade for exceptional customer satisfaction.
• TripAdvisor Travelers’ Choice Award 2023: This award places the Caravela Beach Resort among the top 10% of properties worldwide, reflecting our steadfast commitment to excellence.
• 5-Star DELUXE Classification: Awarded by the Ministry of Tourism, Government of India, valid through December 2028.
• Level 3 Travel Sustainable Badge by Booking.com: Acknowledges the resort’s significant contributions to sustainability.
• Best Luxury Beachfront Wedding Resort India 2023: An award from Hotel of the Year acknowledging Caravela’s premier standing in luxury beachfront wedding venues.
• Excellence in Luxury Award at the ET Hospitality Awards Goa 2023: A recognition of the Caravela’s luxurious offerings.
• Excellence in Business Award: CEO Mr. Prahlad S. Advani was honored by the Economic Times – ET Hospitality for his exemplary leadership.
• Lifetime Achievement Award: Chairman & Managing Director Mr. Sunder G. Advani received this prestigious accolade from the Economic Times – ET Hospitality.
• Times Food Award 2024: The Beach Hut restaurant at Caravela Beach Resort was recognized for its outstanding dining experience.

ESG Initiatives:

• Caravela Aqua: The inauguration of an in-house water bottling plant, reducing reliance on single-use plastic bottles, and underscoring the company’s commitment to environmental stewardship.

Industry and Operational Outlook:

• Rising Disposable Income: With India’s per capita disposable income increasing by 8% in FY24, there is a noticeable boost in demand for luxury and premium leisure experiences.
• Infrastructure Developments in Goa: Projects totaling INR 15,000 crore are set to transform the state’s infrastructure, enhancing accessibility and attractiveness as a premier tourist destination.
• Adaptation to Market Conditions: Despite a dip in international tourists, increased domestic tourism contributed to achieving record revenues.
• Increased Occupancy and Revenue: Advani Hotels boasted an occupancy rate of 83.9%, well above the industry average, driven by robust leisure and MICE activities.
• Seasonal Business Boost: Festivals like Holi and Easter led to a spike in Average Room Rates (ARRs), reflecting high demand periods.

These qualitative achievements and strategic initiatives underline Advani Hotels & Resorts’ comprehensive approach to business excellence, sustainability, and customer satisfaction, supporting their strong financial results.

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