Sterling Holiday Resorts reported revenue of Rs. 97 cr. for Q4 2021, up from Rs. 61 cr. in Q4 2020, an increase of 58 per cent. Resort occupancy dropped marginally from 57 per cent to 54 per cent but room nights grew six per cent and combined with an eight per cent increase in Average Room Rate (ARR), resulted in Resort revenues increasing by 13 per cent. Sterling Palm Bliss, Rishikesh, was added into the resort bouquet during the quarter. Membership volumes grew by 20 per cent with the introduction of the 10-year Vantage membership in Q3.
Overall, the company reported a positive PBT of Rs.30 cr. in Q4 2021, which includes year-end adjustments and one-time revenues. The PBT from operations was at Rs.3.9 cr. as compared to a loss of Rs.3.5 cr. in the same period last year.
For the financial year FY21, despite an impacted first 2 quarters, due to the pandemic – Sterling (standalone) ended the year with a positive PBT based on the Q3 and Q4 performance. While the overall revenue dropped by 32 per cent over FY20, the new strategies on membership business and the cost saving initiatives taken up, ensured that the corresponding expenses dropped by 49 per cent, resulting in an EBITDA growth of 138 per cent.
Ramesh Ramanathan, Chairman & MD, Sterling Holiday Resorts, said, “A radically different approach to the business that was implemented after the pandemic struck, has helped the Company report profits. We have another challenge to surmount in terms of the current wave of the pandemic but are confident that we will bounce back with resounding speed and alacrity.”
Sterling has put in place ‘Sterling CARES’ – a 360-degree comprehensive sanitisation program in association with Apollo Clinics to enable customers to experience safe and fun-filled holidays.
