Bloom Hotels Reports ₹250 Crore Revenue in FY24, Profit Grows 2.3X

Bloom Hotels is a prominent player in India’s hospitality sector. It has achieved remarkable financial growth in FY24, reporting a revenue of ₹250 crore. It marks a fivefold growth in just two years, up from ₹49 crore in FY22, with a year-on-year revenue surge of 73.6%. The company also witnessed a 2.3x increase in profit, underscoring its robust performance and strategic management.

Revenue Breakdown

According to Bloom Hotels’ consolidated financial statements:

• Room Rentals: Contributed ₹213 crore (85.2% of total revenue), a 79% rise from ₹119 crore in FY23.
• Food and Beverage: Generated ₹33 crore.
• Allied Services: Added ₹4 crore.
• Interest Income: Accounted for ₹8 crore.

The total revenue, including interest income, reached ₹258 crore.

Expansion and Strategy

Operating brands like Bloom Hotel, Bloom Hub, BloomSuites, and Bloomrooms, the chain now manages over 50 hotels across key cities, including Mumbai, Pune, Jaipur, Udaipur, and the NCR. Bloom’s aggressive expansion includes long-term lease agreements spanning 5 to 44 years, with lease expenses rising 79% to ₹77 crore in FY24.

Cost and Profit Metrics

Bloom Hotels demonstrated effective cost management despite increasing expenses:

• Employee Benefits: ₹60 crore (up 58%).
• Agent Commissions: ₹16 crore (up 78%).
• Total Expenses: ₹244 crore, up from ₹144 crore in FY23.

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The company reported a profit of ₹14 crore, doubling its FY23 figures, supported by an improved expense-to-revenue ratio of ₹0.98 (from ₹1.00). Key financial metrics like EBITDA margin (10.08%) and ROCE (6.25%) also improved, highlighting operational efficiency.

Financial Strength

Bloom’s current assets stand at ₹118 crore, including ₹97 crore in cash and bank balances, ensuring strong liquidity.

Competitive Edge

Backed by Samena Capital, which invested ₹362 crore (approximately $45 million), Bloom outpaced competitors like Treebo Hotels (₹88.6 crore in FY23 revenue) and FabHotels (₹224 crore in FY23 revenue).

Future Outlook

With consistent growth, strategic cost management, and a clear expansion roadmap, Bloom Hotels is solidifying its position in India’s competitive hospitality industry.