Chalet Hotels Ltd.
|BSE: 542399||Sector: Services|
|NSE: CHALET||ISIN Code: INE427F01016|
|BSE 00:00 | 24 Apr 2020||Chalet Hotels Ltd|
|NSE 05:30 | 01 Jan 1970||Chalet Hotels Ltd|
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|Mkt Cap.(Rs cr)||3,276|
|Mkt Cap.(Rs cr)||3,276|
Chalet Hotels Ltd. (CHALET) - Chairman Speech
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Company chairman speech
A new chapter with a renewed vision
I am also happy to share that during financial year 2018-19 yourCompany entered the Rs. 1000+ crore club in terms of total income.
Ladies and Gentlemen
It gives me immense pleasure to present the 34th Annual Report of theCompany for the financial year 2018-19.
The Company successfully concluded its Initial Public Offering (IPO) inJanuary 2019 followed by listing ar 2018-19.of its shares on February 7 2019. Thisrepresents a major milestone in the evolution of the Company since the opening of yourCompany's iconic hotel property on the banks of Powai Lake Mumbai in 2001. Theequity shares of the Company are now actively traded on the National Stock Exchange ofIndia Limited and BSE Limited. I am also happy to share that during financial year2018-19 your Company entered the Rs. 1000+ crore club in terms of total income.
Notwithstanding the global events that impacted the year that went bythe Indian economy continued to deliver steady growth of around 7% much higher than theglobal economic growth. Further an air of reassurance has set in with the results of theElection being declared. With a majority government at the Centre and expectations oftangible policy reforms the next few years should augur well for business growth inIndia.
Over the past few years the industry has seen a positive movement inoccupancy levels complemented with moderate increase in room rates. Financial year 2018-19was a good year for the Hospitality sector. For your Company the room rates grew by 5%and the annual occupancy increased by ~300 basis points to 76% during the financial
Financial year 2018-19 was a good year for the Hospitality sector.
We are now moving forward with optimism and an enhanced vision Tocreate extraordinary shareholder value through enduring experiences for our guestspartners and colleagues' supported by our values of - Integrity
Agility Efficiency Collaboration
Sustainable Development and Respect for Colleagues. On behalf of mycolleagues on the Board I extend my sincere gratitude for the continued support of allthe stakeholders. I am keenly looking forward to welcome all the new shareholders at ourfirst Annual
Meeting (AGM) post listing.
Chairman and Independent Director
To create extraordinary shareholder value through enduring experiencesfor our guests partners and colleagues.
Our values are the basis on which we build a strong and shared cultureacross all aspects of the business
Integrity- Do the right thing
We uphold the highest standards of integrity in all of our actions.
Agility- Think Decide Act proactively
We strive to add value and inspire our customers because we recognisethat they come to us by choice
We focus on results act with ambition to be operationally competitive
Collaboration- Work as one
We harness differences and interdependencies to unleash the power ofcollaboration
We grow responsibly
Focus on growth tempered with respect owards the environment and localcommunities
Recognising and enabling individual contribution and growth
We respect individual beliefs & diversity to provide a nurturingenvironment for our colleagues to grow
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