HBI Staff | Hyderabad 
Advani Hotels & Resorts (India) Limited recently announced their unaudited standalone financial results for the quarter and full year ending 31st March 2024. The company reported record-breaking revenue for both Q4 and FY24, despite challenges in the overall destination demand for Goa. Total income rose to INR 10,844 lakhs in FY24, an 8% increase from the previous year.
The company’s EBITDA margin declined to 34% due to investments in workforce and hotel facility upgrades, yet profit after tax reached INR 2,496 lakhs. Notably, the Caravela Beach Resort hosted a record 45 weddings and maintained high occupancy rates of 83.9%.
The company’s robust financial health is highlighted by their debt-free status and liquid fund reserves of INR 4,488 lakhs. Additionally, a significant dividend payout of 67% of net profit marks the highest in the company’s history.
Chairman & Managing Director, Sunder G. Advani, expressed optimism for sustained growth driven by MICE and leisure travel. The resort also celebrated numerous accolades, including the 5-Star DELUXE classification and multiple awards for excellence in hospitality and sustainability.
With rising disposable incomes and infrastructure developments in Goa, Advani Hotels is poised for continued success. Despite global disturbances affecting foreign tourism, domestic travel demand ensured the highest-ever revenue. Advani Hotels’ occupancy rates outpaced the industry average, promising a bright future fueled by both leisure and business travel.
For the awards section, here are some notable mentions:
– Booking.com ‘Travellers Review Award’ for 2024.
– ‘TripAdvisor Travelers’ Choice Award for 2023’.
– ‘Level 3 Travel Sustainable Badge’ by Booking.com.
– ‘Best Luxury Beachfront Wedding Resort India’ for 2023.
– ‘Excellence in Luxury’ Award at the ET Hospitality Awards Goa 2023.
– ‘Times Food Award 2024’ for the Beach Hut restaurant.
The successful commissioning of ‘Caravela Aqua,’ a water bottling plant, highlights the company’s commitment to sustainability by reducing single-use plastic.
