Apeejay Surrendra Park Hotels Ltd
NSE:PARKHOTELS
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Apeejay Surrendra Park Hotels Ltd
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Apeejay Surrendra Park Hotels Ltd
Apeejay Surrendra Park Hotels Ltd. engages in the business of owning, operating and managing hotels. The company is headquartered in Kolkata, West Bengal. The company went IPO on 2024-02-12. Its segments include Hospitality and Others. The company operates under five brands: THE Park, THE Park Collection, Zone by The Park, Zone Connect by The Park and Stop by Zone. THE Park hotels are located in Bangalore, Chennai, Goa, Hyderabad, Indore, Kolkata, Mumbai, Navi Mumbai, New Delhi and Visakhapatnam. THE Park Collection includes THE Park Calangute Goa, THE Park Baga River Goa, THE Vaadhyar’s House, THE Denmark Tavern, a heritage hotel, THE Park Chettinad, and the Ran Baas in Patiala. Zone by The Park has its presence in Bengaluru, Coimbatore, Chennai ORR, Delhi, Dimapur, Gopalpur, Jaipur, Jammu, Jodhpur, Kolkata, Pathankot, Phalodi-Jodhpur. Zone Connect is a mid-scale brand, which has four hotels in Goa, Coimbatore, Port Blair, New Delhi, and Mussoorie. The company also operates in the retail food and beverage industry through Flurys, a patisserie on Park Street in Kolkata.
Apeejay Surrendra Park Hotels Ltd. engages in the business of owning, operating and managing hotels. The company is headquartered in Kolkata, West Bengal. The company went IPO on 2024-02-12. Its segments include Hospitality and Others. The company operates under five brands: THE Park, THE Park Collection, Zone by The Park, Zone Connect by The Park and Stop by Zone. THE Park hotels are located in Bangalore, Chennai, Goa, Hyderabad, Indore, Kolkata, Mumbai, Navi Mumbai, New Delhi and Visakhapatnam. THE Park Collection includes THE Park Calangute Goa, THE Park Baga River Goa, THE Vaadhyar’s House, THE Denmark Tavern, a heritage hotel, THE Park Chettinad, and the Ran Baas in Patiala. Zone by The Park has its presence in Bengaluru, Coimbatore, Chennai ORR, Delhi, Dimapur, Gopalpur, Jaipur, Jammu, Jodhpur, Kolkata, Pathankot, Phalodi-Jodhpur. Zone Connect is a mid-scale brand, which has four hotels in Goa, Coimbatore, Port Blair, New Delhi, and Mussoorie. The company also operates in the retail food and beverage industry through Flurys, a patisserie on Park Street in Kolkata.
Record Revenue: Q3 consolidated revenue crossed INR 200 crores for the first time, marking the company's best ever third quarter.
Strong Margins: EBITDA in Q3 was INR 71 crores with an EBITDA margin of 35.3%, supported by 90% occupancy and year-on-year ARR and RevPAR growth of 11% and 9%.
Expansion Pipeline: The company plans to add 17 hotels with 672 keys over the next 14 months, aiming for a total of 3,209 keys across 56 hotels in FY '26-'27.
Robust Financial Position: Net worth is around INR 1,329 crores, with mutual fund investments of nearly INR 58 crores and a net debt to equity ratio currently at 0.11.
Flurys Growth: Flurys delivered 19% top line growth in Q3 and hit record single-day sales of INR 1 crore. 14 new stores are planned for Q4, with a target of 150–160 stores by FY '27.
Strategic Acquisitions: Acquisitions completed in Juhu, Mumbai and Kerala (Malabar House and Purity) align with the strategy to add high-quality, experience-led properties.
CapEx and Monetization: The sale of serviced residences at EM Bypass Kolkata is expected to generate INR 300–350 crores in cash flow over three years, supporting ongoing CapEx and acquisitions.
Renovations Boosting Performance: Renovations in Delhi and Chennai have led to significant ARR and F&B revenue growth, with further upgrades planned in other key hotels.
