Royal Orchid Hotels rises 5% after launching 8 new properties in India

These hotels are located in close proximity to the cities central business district and other transport hubs which is predicted to feed a strong demand pipeline originating from industrial organisations and IT companies.

Mar 16, 2021 12:03 IST India Infoline News Service

ROYAL ORCHID HOTELS
Royal Orchid Hotels, India’s fastest growing hospitality chain with a diverse portfolio of hotels now operates 64+ hotels across 42 locations in India. The brand announced the opening of 8 new properties under the brand Regenta Resort, Regenta Central and Regenta Inn; Three business hotels were opened in prominent business districts in cities like Bangalore and Noida. Three business/Leisure hotels were opened in Goa (Panjim), Jaipur and Ajmer. Two leisure properties were launched as well, one in Mashobra and the other in Udaipur.

The new hotels launched in Bangalore, Noida, Goa, Jaipur and Ajmer will help fortify the group’s position as one of the leaders in the corporate business market.

These hotels are located in close proximity to the cities central business district and other transport hubs which is predicted to feed a strong demand pipeline originating from industrial organisations and IT companies.

Regenta Resort and SPA, Shimla in Mashobra, marks the groups foray into a tourist-intensive and high-demand area of Shimla and Mashobra. Nestled among fir trees and surrounded by mountains on all sides, the hotel offers an experience that is second to none. This resort further strengthens the group’s presence in the state, where we are currently operating another resort.

Located on the foothills of the world-renowned Sajjan Garh Fort, Regenta Central Mewargarh, Udaipur is the latest addition to our group's portfolio. The hotel features contemporary rooms and cottages which will serve business as well as leisure guests, while also providing contemporary banquet and open spaces for weddings and events.

Commenting on the new launches, Chander K. Baljee, Chairman & Managing Director said, “We are on a path to set up 100+ hotels across the length and breadth of our country. The addition of 8 new properties in the last quarter alone is a testament to the efforts we’ve been putting and the speed at which we have been working. All these properties have been onboard after careful consideration of the respective hotels market potential and also to cater to the ever-evolving needs of our guests. In the Q1 and Q2 of FY 21-22 we are expecting to add another 7 hotels.

I’m not just optimistic but certain that in the months and years to come, all these new properties will deliver results that will exceed our expectation”.

At around 12:00 PM, Royal Orchid Hotels was currently trading at Rs73.80 per piece up by 4.9% on Sensex.

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