Royal Orchid Hotels Ltd(ROHLTD)

NSE: ROHLTDBSE: 532699

₹ 265.6-2.69%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 728 crWebsite: www.royalorchidhotels.comUpdated: 24 Oct 2026

About

Royal Orchid Hotels runs a hotel chain in India. It owns, leases, manages and franchises hotels under brands including Royal Orchid, Regenta and ICONIQA. Revenue from operations was 384.15 (Rs crore) in FY26. In Q1 FY27 the company had 7,745+ operational rooms and 11,369+ keys including signed hotels.^[1][2][3]

Business model and revenue mix

Hotels fall into two groups: JLO (jointly leased and owned) hotels, and a managed or franchised portfolio run through the subsidiary Regenta Hotels Pvt Ltd.^[3][2]
Room revenue was ₹213.7 crores in FY26, up 32.6% YoY.^[3]
Management guided that F&B would stay at about 40% of revenue (Q2 FY26 call).^[4]
Regenta Hotels had a top line of about ₹55-56 crores and EBITDA of about ₹20 crores in FY26. It pays a 5% brand fee to the parent.^[3]
Management-fee revenue for FY26 was estimated at about ₹45 cr, with about 47-48% flowing to EBITDA. Fees grew 19.7% YoY in H1 FY26.^[5][4]

Brands and portfolio

ICONIQA Mumbai is a 292-key lifestyle hotel near Mumbai's T2 airport, held on a 25-year lease. It opened in mid-September 2025.^[4]
ICONIQA Mumbai was ranked No. 1 hotel in Mumbai on TripAdvisor within 4 months of opening.^[5]
Lakshminarayan Palace in Vadodara opened under the 'ICONIQA collection' sub-brand, an upper-upscale label for hotels owned by third parties.^[2]
Regenta Z is a franchise format for 40-60 room neighbourhood hotels. Crestoria is a boutique brand.^[4]
At Royal Orchid Resort Bangalore, 28 wooden cottages were added, taking inventory from 54 to 82 rooms (Q2 FY26).^[4]

Room inventory

Q1 FY27: 7,745+ operational rooms and 11,369+ total keys including signed hotels.^[2]
FY26: 123 operating hotels and 11,204 total keys including signed hotels.^[3]
Five hotels with 237 keys were added under managed and franchise models in Q1 FY27.^[2]

Key operating numbers

JLO hotels: ARR ₹6,233 in Q1 FY27 vs ₹5,488 in Q1 FY26. Occupancy 70.6% vs 69.2%.^[2]
Managed portfolio: ARR ₹4,300 in Q1 FY27 vs ₹4,031 a year earlier. Occupancy 60.8% vs 59.5%.^[2]
JLO hotels: ARR ₹6,275 in FY26 vs ₹5,685 in FY25. FY26 occupancy was 69%.^[3]
ICONIQA Mumbai total income was ₹20.1 cr in Q1 FY27 vs ₹24.2 cr in Q4 FY26. Its occupancy was 79% in April 2026.^[2]

Customers and demand

Foreign guests were 6.7% of guests in Q2 FY26 vs 10.6% in Q2 FY25 (8,668 vs 12,681). Domestic guests were 1,20,075 vs 1,06,861.^[4]
Middle East flight cancellations cut inbound travel in April-May 2026, hitting ICONIQA Mumbai's market near the airport.^[2]

Pipeline and expansion

50+ signed hotels with 3,624+ keys are expected to open within 18-24 months of Q1 FY27, taking the total to 173+ hotels.^[2]
Vision 2030 target: 345+ hotels and 22,000+ keys by FY30.^[2]
Regenta Hotels signed a 10-year licensing agreement with Hilton for Hampton by Hilton in 6 Indian states, covering about 125 hotels averaging about 75 keys each.^[3]
Five revenue-share properties are signed, each needing only ₹5-10 crores of capex (FY26).^[3]
Management targets ₹100 crores of annual revenue from ICONIQA Mumbai in FY27.^[2]

Recent developments

September 2026: Regenta Hubballi, a 117-key hotel, opened in Karnataka.^[6]
September 2026: Regenta Place, Golden Castle, a 43-key property, opened in Baddi, Himachal Pradesh.^[7]
30 Sep 2026: Regenta, Bhadohi opened in Uttar Pradesh through the subsidiary Regenta Hotels.^[8]
Q1 FY27: a GST rule change set the output rate at 5% without input credit, causing a ₹2.5 cr input tax credit loss in the quarter.^[2]
On February 14, 2026, Keshav Baljee was designated Whole-Time Executive Director, subject to shareholder approval.^[5]
An MOU was signed to sell a multi-hotel subsidiary. Post-tax proceeds are below ₹30 cr, and 40-45% had been received by the Q3 FY26 call.^[5]

Market Cap

₹728 Cr

High / Low

₹512 / 262

Stock P/E

26.3

Price / Book

2.8

Book Value

₹94

EPS

₹11.7

No. of Shares

2.74 Cr

ROCE

6.5%

ROE

13.2%

OPM

8.9%

Debt / Equity

0.38

Sales

₹384 Cr

Net Profit

₹33 Cr

Promoter holding

64.1%

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