Presenting an upbeat picture of Goa’s tourism industry, Advani Hotels & Resorts Ltd., that owns Caravela Beach Resort, Varca, showed strong growth in the last quarter of 2024, reports Team B&C
Reflecting that Goan hospitality industry did very well in the year-end, Advani Hotels & Resorts Ltd., the owner and operator of Caravela Beach Resort, Varca, reported its best-ever revenue and net profit in the October-December months of 2024.
The company which is essentially Goan with 100 per cent of its hotel operations in the state, announced a 28 per cent jump in net profit to Rs 11. 9 crore in Q3 FY25. It declared dividend of Rs 1 per share on the face value of Rs 2 per share.
During the quarter ended December 2024, the revenue improved by 9.2 per cent to Rs 36 crore, driven by strong leisure, wedding and MICE demand. The growth was achieved without adding any rooms or F&B facilities as the fixed assets remained the same.
Indicating strong operating performance, the total revenue per room per night (TRevPOR) was Rs 24,065 in Q3 FY25, even though average occupancy decreased slightly to 84.9 per cent vis-à-vis occupancy of 85.4 in Q3FY24.
On Christmas eve, the Caravela Beach Resort, achieved an average net revenue (ANR) per room per night of Rs 33,905, at occupancy of 83.1 per cent, while on New Year’s eve, the per room ANR was Rs 48,203, at occupancy of 94.4 per cent.
Commenting on the results, Advani Hotels, chairman and managing director Sunder G Advani, said, the results reflect consistent revenue growth. He said that, the momentum will be sustained in Q4 FY25 with growth driven by MICE and leisure travel.
“Caravela Resorts is starting 2025 on a high note by receiving the Traveller Review Award 2025, by Booking.com in January. The recognition reflected our consistent efforts to deliver outstanding guest experiences and our commitment to excellence in the hospitality industry. Our current Booking.com review rating is 8.5 points out of maximum of 10.0 points,” pointed out Advani.
The hospitality industry veteran has a favourable outlook on Goa’s hospitality industry. “There is a new tourism wave in the state as it is moving away from catering to mass tourism, often referred to as ‘minibus tourists’, and is instead focusing on attracting visitors who contribute more significantly to the local economy. Industry experts see Goa transforming into a luxury destination, similar to how Southeast Asian destinations have reinvented themselves.”
Goa’s tourism sector is moving towards sustainability and higher economic contributions, believes Advani. From an eco-friendly perspective, Caravela Resort has invested in installing aerators in each faucet, to conserve the nation’s valuable natural resource of water, he said.
