Sterling Holiday Resorts records a positive PBT for Q4 2021 amidst the pandemic

Despite the effects of the COVID-19 pandemic, Sterling Holiday reports standalone revenue of INR 97 crore in Q4 2021 as compared to INR 61 crore in Q4 2020

· EBITDA grew by 138% for the same quarter

· Resort revenues increased by 13%

· Membership volumes rose by 20% with the launch of 10-year Vantage membership in Q3

May, 31st, 2021: One of the country’s leading leisure holiday and vacation ownership brands, Sterling Holiday Resorts reported revenue of Rs.97 cr. for Q4 2021, up from Rs.61 cr. in Q4 2020, an increase of 58%. Resort occupancy dropped marginally from 57% to 54% but room nights grew 6% and combined with an 8% increase in Average Room Rate (ARR), resulted in Resort revenues increasing by 13%. Sterling Palm Bliss, Rishikesh, was added into the resort bouquet during the quarter. Membership volumes grew by 20% 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% over FY20, the new strategies on membership business and the cost saving initiatives taken up, ensured that the corresponding expenses dropped by 49%, resulting in an EBITDA growth of 138%.

Ramesh Ramanathan, Chairman & MD 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.

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