Royal Orchid Hotels earnings calls.

Royal Orchid Hotels delivered FY26 consolidated revenue of Rs 384 crore (up 20.4Current reported value: 20.4. No comparable prior figure is available in the source record.% YoY from Rs 319 crore), with EBITDA of Rs 110Current reported value: 110. No comparable prior figure is available in the source record. crore and PAT of Rs 33 crore. The 384 crore revenueCurrent reported value: 384 crore revenue. No comparable prior figure is available in the source record. and 110 crore EBITDACurrent reported value: 110 crore EBITDA. No comparable prior figure is available in the source record. reflect sustained demand across business and leisure segments, plus growing contribution from managed properties. However, PAT was impacted by Rs 16 crore notional Ind-AS charge from Iconica Mumbai, which management characterized as non-cash. The 290-key Iconica Mumbai property—opened in its first full year—reported Q4 occupancy of 62%Current 62%. Reported change: vs 73-80% in Jan-Feb. (with Jan-Feb at 73-80% before March cancellations from geopolitical tensions). The managed hotels subsidiary generated Rs 55-56 croreCurrent Rs 55-56 crore. Reported change: +45% from Rs 38 crore base. revenue with Rs 20 crore EBITDA, showing strong growth from Rs 38-39 crore three years ago. Management declined to provide FY27 guidance due to macro uncertainty (Middle Eastern carrier disruptions affecting inbound tourism, rising labor costs, construction delays). The 52-hotel, 3,600-key signed pipelineCurrent 52-hotel, 3,600-key signed pipeline. Reported change: +3,600 keys. supports Vision 2030 targets of 345 hotels and 22,000 keys. Capex needs are minimal (Rs 5-10 crore per Regenta hotel) given the asset-light model, with Rs 100 crore cash on balance sheet. Key risks include geopolitical headwinds impacting ADRs and occupancy, competitive expansion from Ginger/Marriott, and rising wage costs from new labor codes.