Royal Orchid Hotels Ltd will be operating at a 300-room five-star hotel at Mumbai Airport terminal 2. The property is located near the airport. It is not operational yet but is expected to be soon. Thus, it will open an easy way for all the travelers to find the accommodation. They will not have to roam far away with their luggage. We will share details about the specialties of this new stay below.
The company will sign the agreement to use the property for their hotel business. It is just within walking distance from the airport. Thus, there will be no problem for the passengers to find a stay. If everything goes well, the hotel will be functional by the end of the current year. The news went viral after Chairman and Managing Director Chander K. Baljee made the announcement. Royal Orchid Hotels Ltd also operates on revenue sharing model in Goa, Gurugram, and Pune.
Royal Orchid’s main motto is to work on the upper-level market. They are focussing on the luxury segment. However, they don’t have enough 4-5 star properties. Thus, they decided to not share it further. The company started by renting out its assets for stays. However, it often takes more time for expansion as buying property is not as cheap as leasing. Thus, they shifted to the existing hotels and started managing them under their name. A popular example of it will be OYO rooms.
The management of the hotels is also an important part and brings profits to the company and customers to the hotels. The company is currently going well financially. Royal Orchid will make Rs. 340 Crores for FY 2024 (expected). The next year expects around Rs. 400 crore as their projected earnings.
The EBITDA is currently Rs. 110 Crore. The company deals in hotels and staying facilities. They have the majority of hotels in the West area. Apart from that, they have stayed in the North and East as well. The company has a high potential to grow further. Thus, this new opening will contribute further to the revenue of the company. The luxury segment often consists of less number of people but more amount per day stay. Mumbai is a city of dreams where everyone lives in harmony. There are several billionaires as well. Thus, the location and hotel are a perfect fit for the company’s growth.