
Hardik Agrawal
44 posts




Samhi Hotels : REV grew 16%, Reported EBITDA grew 13% YoY due to GST impact EBITDA margins impacted by 200 bps due to loss of input tax credit Same store ADR grew 16% YoY, RevPAR grew 13% YoY to 5,643 Portfolio has 4,900 operational rooms. Incremental 1,900 rooms under development or rebranding, of which ~1,450 rooms are net additions. Mix of upscale & upper upscale to rise from 42% to ~60% on completion Net debt at 1,450 Cr. TTM EBITDA (ex ESOP) at 482 Cr. Net debt/EBITDA stable at ~3x. Growth capex to be funded through internal accruals without material increase in leverage TTM free cash flow stands at ~300 Cr With earnings growth, free cash flow is expected to reach ~400 Cr plus over the next 12 months Long term same store RevPAR CAGR guided at 9-11% over next 3-5 years. Medium term aspiration to reach ~3,000 Cr by 2030 At current multiples its <10x Ev/Ebitda on fwd basis






















