Samhi Hotels Ltd

- No specific mention of new fundraising through debt or equity in the provided pages. - The company is focused on reducing debt, targeting a net debt to EBITDA ratio of about 3.5 times by the end of FY25. - They are generating strong free cash flows (about INR 100 crores incremental free cash post-debt servicing in H2 FY24). - With a cash balance of INR 260 crores and expected cash accumulation, the company plans to pare down debt, renovate hotels, and evaluate growth opportunities. - Growth opportunities will adhere to cardinal rules: focus on core markets, avoid development risk, and maintain a discount to replacement costs. - No explicit plans for fresh fundraising via equity or additional debt were disclosed during the call.

- About INR 70 crores total capital expenditure incurred for three upcoming hotels; INR 30 crores already spent, INR 40 crores to be spent in the next quarter (Page 9). - Planning to renovate and rebrand two other large hotels to drive performance further (Page 5). - Renovation and rebranding of Greater Noida Caspia Pro hotel in full shutdown mode since February, reopening planned in October (Page 10, 15). - Addition of 300 new rooms including 137 in Greater Noida, 111 in Kolkata, 54 in Bangalore, expected to open by Q3 FY25 (Page 9). - Planning to add 22 apartments to Hyatt Regency Pune and expand Chennai Sriperumbudur hotel by 86 rooms; timelines not detailed but mentioned as next year activities (Page 9). - INR 25 crores capex planned over next two quarters for full integration of ACIC portfolio (Page 11). - Focus on quick capex to revenue cycle expansion, no greenfield developments, sticking to core markets with low development risk (Page 9).

- SAMHI Hotels projects a topline of INR 1,000 crores and EBITDA of about INR 360 crores for FY25, indicating strong growth expectations. - Portfolio delivered 17% YoY RevPAR growth, with Upper Upscale segment (43% of revenue) leading at 22% growth, especially in key markets like Bangalore, Hyderabad, Pune, and Gurgaon. - Core markets including Bangalore and Hyderabad are expected to continue delivering mid-teen RevPAR growth over the next 2-3 years, driven by strong office space expansion and negligible supply pressure. - ACIC portfolio integration expected to improve margins and add incremental EBITDA, with 300 new keys contributing additional EBITDA. - Forward bookings from mid-June and July indicate positive momentum post recent election and heatwave disruptions. - Overall revenue growth expected in high single-digit to low double-digit RevPAR increases, supported by operating leverage and margin improvements. - Corporate G&A and ESOP expenses expected to reduce, contributing to profitability alongside revenue growth.

- SAMHI Hotels expects strong operational performance and margin expansion in FY25. - EBITDA margin projected to expand from 37.5% post-acquisition to approximately 41-42% in coming quarters. - Corporate G&A expenses projected to reduce by about INR 15 crores from FY24 levels, improving profitability. - ESOP expenses are expected to materially reduce in FY25, further boosting earnings. - Organic revenue growth driven by sustained high single-digit to low double-digit RevPAR growth, supported by core markets. - Incremental EBITDA of around INR 70 crores expected from new ACIC portfolio integration and 300 additional keys added in FY25. - Positive PAT of INR 11 crores reported in Q4 FY24 with expectations for PAT growth through operating leverage and cost efficiencies. - Free cash flow generation of INR 225-250 crores expected in FY25 post-interest, aiding debt reduction and financial flexibility. - ROCE leading markets like Bangalore and Hyderabad are expected to continue delivering strong returns (~20%).

- SAMHI Hotels Limited is set to open about 300 new rooms in the next few months, including: - 137 rooms in Greater Noida (currently under full renovation, reopening in October) - 111 rooms in Kolkata (first hotel in the city) - 54 rooms in Bangalore (Whitefield, Holiday Inn Express) - These 302 rooms are expected to open by the quarter ending September to October. - For FY25 and beyond, plans include: - Addition of 22 apartments to Hyatt Regency Pune. - Expansion of Hyatt Regency Chennai in Sriperumbudur by adding about 86 rooms. - No definitive timelines are given yet for expansions in Sriperumbudur or additional projects. - SAMHI is focusing on quick capex to revenue cycle projects and avoiding greenfield developments. - Capital expenditure for these new openings is around INR 70 crores (30 crores spent, 40 crores to be spent next quarter). - Further growth opportunities are under evaluation within core markets without development risk.