Advani Hotels & Resorts have registered their highest-ever revenue growth
The Caravela Beach Resort had a remarkable 81.1% occupancy rate in the first half of the fiscal year 2024, as compared to 75.3% in the same period of the previous fiscal year, which is higher than the industry average of 70.0%. This suggests that they are the leaders in the market when it comes to the occupancy-penetration index. The company has no debt, and the excess cash and bank balances have been invested in liquid funds, which have increased to Rs. 3,752 lakhs as of September 2023, up from Rs.3,256 lakhs as of September 2022. This is after paying a 70% interim dividend of Rs. 647 lakh in June 2023 and deducting cash outflows for capital expenditures.
The Caravela Beach Resort is situated on a 23-acre estate, featuring a 275-meter-long stretch of powdery white sand beachfront at Varca Beach in South Goa. The resort is surrounded by beautifully landscaped gardens and a golf course designed by the renowned international landscape architect Belt Collins.