Q3 2024 Chalet Hotels Ltd Earnings Call Transcript

Mar 20, 2024

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Jan 25, 2024 / 05:30AM GMT
Operator

Ladies and gentlemen, good day and welcome to the third quarter ended FY24 earnings conference call of Chalet Hotels Ltd. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Mr. Sanjay Sethi, MD and CEO, Chalet Hotels Ltd. Thank you and over to you, sir.

Sanjay Sethi - Chalet Hotels Ltd - MD & CEO

Thank you, Rayo. Good morning, ladies and gentlemen. Thank you for joining us for the Chalet Hotels earnings call for the quarter ended December 23 and for being a part of Chalet Hotels journey of growth and innovation. Allow me to provide you with some key highlights of the last quarter.

Globally, the hospitality industry is witnessing an uptick in occupancy and rates led by increasing international tourists, which as per WTO is 88% of pre-pandemic levels for the year 2023. This was aided by improvement in business travel, stronger group activity and resumption of large events. This comes against the backdrop of a volatile geopolitical environment.

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