Lemon Tree Hotels Q4 Review - Higher Occupancy Drives QoQ Growth: Motilal Oswal

A Lemon Tree Hotel in Hyderabad. (Source: Company website)

Lemon Tree Hotels Q4 Review - Higher Occupancy Drives QoQ Growth: Motilal Oswal

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Motilal Oswal Report

Lemon Tree Hotels Ltd.'s revenue grew 39% QoQ in Q4 FY21, led by 38% revenue per available room growth, aided by a 16.9% improvement in occupancy.

Ebitda grew 42% QoQ due to lower flow-through, as the onset of a second Covid-19 wave was sudden, which impacted demand.

The company was unable to reduce expenses immediately.

In Q4 FY21, Keys Hotels generated a revenue of Rs 83 million (up 30% QoQ), with an Ebitda of Rs 8 million (up 14%).

We have lowered our FY22E Ebitda estimate by 43% and have maintained our FY23E Ebitda estimate.

Click on the attachment to read the full report:

Motilal Oswal Lemon Tree Hotels Q4FY21 Result Update.pdf


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