Royal Orchid Hotels targets 80-90 properties by 2020
Royal Orchid Hotels is eyeing 80-90 properties by 2020, including 2-3 overseas, over the next three years, a top company official said. The company currently has 49 properties in 32 cities across the country with 3,200 rooms.
“We are on a rapid expansion mode and are looking to have 80-90 properties by 2020. We are also in advance stage of talks with 2-3 players overseas, and are hoping for 2-3 hotels in 2-3 years,” Royal Orchid Hotels Managing Director Chender Baljee told PTI here. However, he declined to reveal the locations of the overseas properties the company is looking at.
Meanwhile, the hospitality group’s revenue is expected to grow by over 13 per cent to Rs 170 crore in this financial year, compared to Rs 150 crore in 2016-17, he said. “We are seeing growth from the mid market segment in the country, which is growing rapidly. It is mainly aided by the growing middle class segment who are price conscious and look for superior amenities at competitive prices,” he added.
In India, he said, the company’s properties are well spread out across the country. “We will add 15 more hotels to our portfolio to take the total to around 65 properties next year with 4,500 rooms,” he added.
In India, the hospitality company is looking at states like Tamil Nadu, Telangana and Andhra Pradesh for expansion. “Going forward, we are going to focus in states where we are not present or have few properties. We see a huge potential in Tamil Nadu, Telangana and Andhra Pradesh. “However, we will also look forward to strengthen our presence in the existing markets, he added.