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HomeFunding & InvestmentBloom Hotels Achieves Rs 250 Crore Revenue in FY24; Reports 2.3X Profit...

Bloom Hotels Achieves Rs 250 Crore Revenue in FY24; Reports 2.3X Profit Growth

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Bloom Hotels has witnessed a stellar performance in FY24, marking over fivefold growth in revenue within two years. The hospitality chain scaled its revenue from Rs 49 crore in FY22 to Rs 250 crore in FY24. Year-on-year, its operating revenue surged by 73.6%, while profits jumped 2.3 times during the same period.

Bloom’s operational revenue increased to Rs 250 crore in FY24, up from Rs 144 crore in FY23, according to its consolidated financial statements filed with the Registrar of Companies. Income from room rentals accounted for a dominant 85.2% of this figure, rising 79% to Rs 213 crore from Rs 119 crore in FY23. Additional revenues came from food and beverage services (Rs 33 crore) and other allied services (Rs 4 crore), with interest income contributing Rs 8 crore, pushing the total revenue to Rs 258 crore.

The company, operating brands like Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms, currently boasts over 50 hotels in cities such as Mumbai, Pune, Jaipur, Udaipur, and the NCR. As part of its expansion strategy, Bloom entered multiple lease agreements ranging from 5 to 44 years. Lease-related costs formed 31.5% of total expenses, growing 79% to Rs 77 crore in FY24.

Other significant costs included employee benefits and agent commissions, which rose by 58% to Rs 60 crore and 78% to Rs 16 crore, respectively. Total expenses increased to Rs 244 crore from Rs 144 crore in FY23, covering advertising, legal fees, and food and beverage costs.

Despite higher expenditures, Bloom’s profit more than doubled to Rs 14 crore in FY24, supported by an improved expense-to-revenue ratio of Rs 0.98 compared to Rs 1.00 in FY23. The company’s EBITDA margin and ROCE rose to 10.08% and 6.25%, respectively. Bloom also reported strong financial health, with total current assets of Rs 118 crore, including Rs 97 crore in cash and bank balances.

Funded by Samena Capital, which holds a majority stake following an investment of Rs 362 crore (approximately $45 million), Bloom is outpacing competitors. Treebo Hotels and FabHotels reported operating revenues of Rs 88.6 crore and Rs 224 crore in FY23, respectively, though their FY24 data is yet to be disclosed.

Bloom’s consistent growth and strategic cost management reflect its strong position in the competitive hospitality landscape.

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