Royal Orchid Hotels, a fast-expanding hotel chain operating 5 and 4-star hotels for business and leisure travellers recently reported its financial results for the quarter ended 30 June, 2019.
The company reported total standalone revenue up by 11 per cent as compared to the same quarter last year, while the consolidated revenue saw a surge of six per cent in Q1 FY20 as compared to Q1 FY19.
Commenting on the results, Chander K Baljee, MD, Royal Orchid Hotels, said, “In Q1 this year, we have witnessed sustainable performance on the back of increased efficiency. We launched four properties; three Regenta Central hotels in North Goa, Zirakpur, Chennai respectively, and a Regenta Inn in Kullu. In Q2, we have already launched a beautiful resort property in Belagavi, North Karnataka and we have immediate launches scheduled for two new Regenta Inn hotels; one in the prime Indiranagar locality of Bangalore, and one in Ranip, Ahmedabad. Q2 will also witness a business hotel launching in the heart of Noida, and a boutique leisure hotel launching in Bhimtal, Uttarakhand. We are in line with our growth plan to reach 100 hotels by 2021 and six signed hotels are also scheduled to open in addition to the above, by December 2019.”
(pic: Regenta Central North, Goa)