Brigade Hotel Ventures Limited

Nirupa ShankarManaging Director Ofbrigade Hotel Ventures Limitedmr. Vineet Verma

Thank you. Good afternoon everyone and a very warm welcome to Brigade Hotel Ventures Limited Q1 FY27 earnings conference call. I am joined today by members of our senior leadership team, Mr. Vineet Verma, Director, Mr. Anand Natarajan, our CFO, and Mr. Rayan Aranha, our Vice President. Before I get into our numbers, I want to spend a moment on the operating environment. The conflict in West Asia remained the dominant factor through April and June. Airspace disruptions and rerouting pushed up fares and journey times on several international and connecting routes. Energy and fuel costs stayed elevated and inflationary pressures persisted through the quarter. For an industry that runs on discretionary travel and event planning, a geopolitical shock of this nature is bound to have an impact.

However, we were able to anticipate the reduction in foreign travel and we focused generating demand from local and domestic accounts. Due to this, we were able to drive up our ADR by 7%, our occupancy by 2%, and both our RevPAR and our EBITDA by 9%. I am happy to report that we were also able to increase our profit by 140% from INR7 crores to INR17 crores. The encouraging part is that the sector's underlying demand engine, that is the domestic corporate travel, weddings, and social events, were largely able to absorb the shock of the West Asia crisis.