During the fourth quarter ending on March 31, 2019, Advani Hotels & Resorts (India) Ltd., which is the owner and operator of the popular Caravela Beach Resort Goa, has achieved a net profit growth of 61.50 percent. The profit at INR 6.88 crore is up from INR 4.26 crore in the corresponding quarter of the previous year. The net sales increased by 16.17 percent at INR 22.85 crore during Q4, up from 19.67 crore in the corresponding quarter that ended March 2018.

The Caravela Beach Resort is an independent 5-star deluxe beach resort comprising 201 rooms. It started operations in 1990 as the Ramada Renaissance Resort. The property is designed by the renowned architectural firm, WATG (who also designed the Atlantis Resorts, Sun City, the Bellagio and Wynn in Las Vegas).

The Caravela Beach Resort is a 40-minute drive from Goa’s Dabolim Airport. It is built on a 23-acre estate with a 275-meter long beach-front, and is located on the powdery white sands of Varca Beach, South Goa. The property has an 83-foot high atrium lobby, making it Goa’s tallest and largest lobby. It is surrounded by immaculately landscaped gardens designed by the renowned international landscape architect, Belt Collins of Singapore. The beach resort is home to several unique bird species and has a large golf course. The guest-rooms are connected to the main lobby via covered, air-conditioned corridors; making it comfortable in the summer months and leakage-proof during rains. Several of the rooms in the property have sea-view and all rooms come with attached private balconies. Take a sneak peek into the beautiful property by clicking on the link below:

The company notched up a net profit of INR 11.37 crore for the financial year April 1, 2018, to March 31, 2019, compared to INR 8.63 crore previous year; registering an increase of 31.75 percent. The gross income increased to INR 85.81 crore from INR 76.58 crore in the previous year while net income increased by 12.39 percent to INR 71.73 crore from INR 63.82 crore in the previous financial year.

Speaking on the occasion, Sunder G. Advani, the Chairman and Managing Director said, “In 2019, we will complete 30 years since our IPO listing at the stock exchanges. In honour of this special occasion, the Board has approved a total dividend of 100 percent for all shareholders." This approximately amounts to a total outflow of INR 11.14 crore including Dividend Tax.

The company announced a second-interim-dividend of 70 percent (INR 1.40 per share of face value INR 2.00 each) at its board meeting held on May 10, 2019.

The average annual occupancy percentage of the Caravela Beach Resort rose to an impressive 82.77 percent up from 79.20 percent in the previous year. The annual net revenue per occupied room (RevPOR) grew by 6.63 percent to INR 11,749 per room per night (net of taxes) from INR 11,018 per room per night in the previous year. Earnings per share (EPS) on a diluted basis for the financial year climbed to INR 2.46 from INR 1.87 in the previous year, an increase of 31.55 percent. For investors, the company gave a handsome Return of Equity (RoE) of 20.90 percent. It also notched up a Return on Assets (RoA) of 15 percent, which is well above the hotel industry average of 5.60 percent.

“Our Company is virtually debt-free; we have no long-term debt, no working capital loans and only have vehicle loans of INR 44 lakh. The company had liquid funds of approximately INR 20 crore. Even after paying a 100 percent dividend, it will still have over INR 12 crore in liquid funds. We have kept this as a reserve for potential capital expenditures and a cushion for the future. We have over 1, 30, 000 square feet of non-utilized FSI available for future expansion," added Advani.

During the financial year ending March 31, 2019, the Caravela Beach Resort Goa, (with a Trip Advisor rating of 4.7 out of 5), has bagged several guest satisfaction awards. It was awarded the Trip Advisor Bravo Badge and the Trip Advisor Certificate of Excellence Award in May 2018.

The resort was awarded the ‘GO-MMT Customer Choice Award for Independent Hotels in the Premium Segment’ at the Go-Ibibo Make My Trip Star Partners Meet in Goa in October 2018.

It was also awarded a Certificate of Excellence from a renowned U.K. tour operator for outstanding customer feedback.

In February 2019, the Resort was awarded the 2018 Booking.com Guest Review Award for having one of the highest guest review scores from Booking.com customers. Currently the Caravela scores 8.5 out of 10 with Booking.com. In April 2019, the Resort also received Booking.com ‘Heroes of Hospitality Award’ for consistent excellence in customer service.“I thank our entire operations team led by Prahlad S. Advani, our Director in- charge of operations, for making the culture customer-centric, and energetically taking the extra step to please our esteemed guests" said Sunder G. Advani.

Mr. Sunder G. Advani & Mr. Prahlad S. Advani of The Caravela Beach Resort, Goa received the Booking.com ‘Heroes of Hospitality Award’ by Ms. Ruchi Lahoti, Area Manager of Booking.com
Mr. Sunder G. Advani & Mr. Prahlad S. Advani of The Caravela Beach Resort, Goa received the Booking.com ‘Heroes of Hospitality Award’ by Ms. Ruchi Lahoti, Area Manager of Booking.com (Advani Hotels & Resorts)

Over the years, Advani Hotels has also been active in doing its bit for the underprivileged through the company’s Corporate Social Responsibility (CSR) program. It contributes to Prasad Chikitsa that carries out numerous socially relevant activities. One such program dealt with financial assistance to economically challenged families to start their own kitchen garden to grow vegetables in backyard to counter malnutrition. Prasad Chikitsa also held five camps to provide oral health kits to patients and conducted dental procedures.

In addition, the Company extensively worked with the Maharashtra State Women’s Council in its Asha Kiran Street Children Project, which aims at reducing financial inequality among people, and also with Asha Sadan, which works towards empowering needy women.

The Caravela has also contributed to People for the Ethical Treatment of Animals (PETA) towards setting up a shelter for stray cattle; to In Defense of Animals India (IDA), towards running a shelter for homeless and blind dogs, and to The Welfare of Stray Dogs (WSD), which works towards animal neutering activities.

On December 1, 2018 (World AIDS Day), the Hon'ble Minister for Health and Women and Children in Goa, Vishwajit Rane, felicitated Prahlad Advani with the ‘Goa Red Ribbon Warrior’ award for supporting young children suffering from HIV infection in Goa. The award was conferred at the Positive Power Summit, organised by the Human Touch Foundation.

Mr. Sunder G. Advani put forth, “I would like to thank all our loyal shareholders, the Board of Directors, our dedicated employees, our professional vendors and consultants, our travel agents, tour operators and online travel agents, our gracious guests, my fellow hoteliers, the entire village of Varca, the Government of Goa, and the Ministry of Tourism and Civil Aviation for supporting us over the last 30 years" he said.

Disclaimer: This is a company press release distributed by Advani Hotels and the liability solely rests with the said company. No HT Group journalist is involved in the creation of this content.

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