Antique has initiated a coverage on Chalet Hotels with a target price of Rs 400, which is a 130 percent potential upside from current levels.
The firm expects strong revenue growth ahead, on the back of cyclical and secular tailwinds. In terms of numbers, Antique is expecting 55 percent revenue growth over the next five years and an expansion of EBITDA margins by 1,000 basis points (bps) by FY25.
Currently, they have hotels in four metro cities and have close to 2,554 keys.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
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