Apeejay Surrendra Park Hotels Limited – Investor Presentation Summary

Key Operational Highlights

  • Achieved India's highest occupancy and RevPAR across India's upper-upscale hospitality industry.
  • In FY26, launched seven hospitality properties across key leisure, pilgrimage, and urban markets, adding 283 keys to the network.
  • Flurys delivered robust revenue growth of 29% YoY, supported by continued expansion and improving consumer traction.
  • Rohit Kakra appointed as new COO of Flurys effective 2026.
  • Launched an integrated hospitality-led development on EM Bypass, Kolkata, comprising a 218-key hotel and 69 serviced apartments, with 29 units sold.
  • Finalized the design for THE PARK Mumbai comprising 78 rooms, with project commencement scheduled for June 2026 and completion targeted by March 2027.
  • Successful introduction of SAP S/4 HANA for stronger financial control and operational efficiency.
  • Achieved near 100% green mobility adoption for guest services.

Key drivers of operational performance: New property launches, brand expansion of Flurys, and sustainability initiatives.

Segment-wise Performance

Not Specified

Financial Highlights

Q4-FY26 Financial Performance:

  • Revenue: ₹1,837 Mn, up 3.6% YoY
  • EBITDA: ₹530 Mn, down 14.7% YoY
  • EBITDA Margin: 28.85%, down 618 bps YoY
  • PAT: ₹119 Mn, down 55.3% YoY
  • PAT Margin: 6.44%, down 831 bps YoY
  • Diluted EPS: ₹0.56/Share, down 55.2% YoY

FY26 Financial Performance:

  • Revenue: ₹7,073 Mn, up 12.0% YoY
  • EBITDA: ₹2,180 Mn, up 4.6% YoY
  • EBITDA Margin: 30.82%, down 218 bps YoY
  • PAT: ₹657 Mn, down 21.4% YoY
  • PAT Margin: 9.21%, down 358 bps YoY
  • Diluted EPS: ₹3.08/Share, down 21.4% YoY

Drivers of financial performance: Higher revenue growth offset by increased operating expenses (13.5% YoY in Q4), higher interest costs (46.6% YoY in FY26), and increased depreciation (20.4% YoY in FY26).

Key Risks: Not explicitly disclosed.

Geographical Revenue Split

Not Specified

Balance Sheet Snapshot

Not Specified

Capex & Cash Flow Health

Not Specified

Strategic & R&D Initiatives

  • Expansion of hotel portfolio from 42 properties (2,677 keys) to 85 properties (6,635 keys) by FY2030 through owned, managed, and leased models.
  • Development of EM Bypass, Kolkata project with 218 hotel rooms and 69 serviced apartments (29 already booked at average price of ₹20,857/sqft including parking).
  • Estimated gross sale proceeds of all units: ₹626.26 Cr; booked units: ₹257.67 Cr; ASPHL share received: ₹11.11 Cr.
  • Project completion estimated for March 2030.

Expected impact on growth: Portfolio expansion to nearly double key count by 2030, enhancing market presence and revenue potential.

Strategic Rationale: Diversified presence across luxury, upscale, and upper mid-scale segments through multiple brands to capture different market segments.

Industry Trends & Business Environment

Not Specified

Management Commentary & Growth Outlook

Mr. Vijay Dewan, Managing Director:

  • "FY26 has been a significant year, with revenue crossing the INR 700 crore milestone for the first time."
  • "Q4 continued to reflect resilient operating performance across the portfolio with the Company maintaining its leadership position in occupancy and RevPAR."
  • "The sale of serviced apartments at EM Bypass Kolkata has exceeded expectations resulting in substantial improvement in this year's cash flow."
  • "The 75% dividend payout approved by the Board reflects the strength of our balance sheet and growth momentum."
  • "The outlook remains positive, and we continue to focus on creating long-term value for our shareholders through strategic portfolio expansion, enhanced guest-centric experiences, operational excellence, and sustained margin improvement."

FY Guidance: Not explicitly provided.

Risks and Opportunities: Not explicitly highlighted.

Hotel Brand Portfolio

THE PARK Hotels: 8 properties (1,221 keys), 9 under development (1,430 keys) - upscale brand with luxury boutique offering.

THE PARK Collection: 6 properties (128 keys), 3 under development (91 keys) - small luxury properties at selected travel destinations.

Zone by the Park: 12 properties (654 keys), 17 under development (1,455 keys) - upper mid-scale social catalyst brand.

Zone Connect by The Park: 16 properties (674 keys), 14 under development (982 keys) - upper mid-scale brand.

Premium Lifestyle & Entertainment Ecosystem

  • 100+ Lifestyle F&B and Entertainment Outlets Across our Hotels
  • Home to multiple award-winning restaurants, bars, and nightlife destinations
  • Integrated hospitality, dining, and entertainment ecosystem enhances customer stickiness

Flurys — An Iconic F&B Brand

  • Legacy since 1927, synonymous with European-style baking and confectionery
  • Multi-format retail F&B platform with 110 cafés, kiosks, and restaurant formats across India
  • Tea Rooms, Cafe Formats, and Kiosks offering all-day breakfast, pastries, and beverages
  • Asset-light & scalable expansion model with limited capital deployment

Awards & Accolades In FY26

  • Architectural Digest recognized Ran Baas, The Palace in its global list of 2025 Great Design Hotel Award (August 2025)
  • Prix Versailles featured Ran Baas, The Palace in its global list of World Architecture and Design Award (May 2025)
  • Ran Baas, The Palace was awarded with One MICHELIN Key (October 2025)
  • Travel + Leisure featured THE Lotus Palace in its global IT LIST 2025
  • Multiple Times Food & Nightlife Awards for various bars and restaurants (March 2026)