Royal Orchid Hotels Limited has successfully completed the acquisition of the remaining shares in Icon Hospitality Private Limited, transforming it into a wholly owned subsidiary. The strategic move, which was finalized on October 11, 2023, marks a significant expansion in Royal Orchid's hospitality portfolio.

Acquisition Details

The acquisition involved the purchase of a total of 929,872 shares from two key shareholders:

• 917,872 shares acquired from P. Dayananda Pai
• 12,000 shares acquired from P. Satish Pai

Both transactions were executed through demat transfer, ensuring a smooth and efficient process.

Timeline of the Acquisition

This acquisition is the culmination of a process that began earlier in the year:

• May 2023: Royal Orchid Hotels initially disclosed its intentions to purchase these shares.
• October 2023: The company executed the Share Purchase Agreement, setting the stage for the final transfer.
• October 11, 2023: The acquisition was completed, officially making Icon Hospitality a wholly owned subsidiary of Royal Orchid Hotels.

Strategic Implications

This move by Royal Orchid Hotels demonstrates the company's commitment to expanding its presence in the hospitality sector. By fully acquiring Icon Hospitality, Royal Orchid gains complete control over the subsidiary's operations and assets, potentially leading to:

• Enhanced operational synergies
• Streamlined decision-making processes
• Improved resource allocation across the expanded portfolio

The acquisition aligns with Royal Orchid's growth strategy and may contribute to strengthening its position in the competitive hospitality market.

As the hospitality industry continues to evolve, such strategic acquisitions could play a crucial role in shaping the future landscape of hotel management and operations in India.

Royal Orchid Hotels Limited (ROHL) has announced a significant expansion of its presence in North India with the signing of a new 65-key property in Ambala, Haryana. This strategic move strengthens the company's foothold in the region and demonstrates its commitment to tapping into emerging markets.

Property Details

The new property, developed in collaboration with Mr. Lovepreet Singh, will be operated under a management agreement, aligning with ROHL's asset-light model. Spread across 6 acres with a built-up area of 1,05,000 sq. ft., the resort is designed to cater to both business and leisure travelers.

Key features of the property include:

• 65 well-appointed rooms (deluxe, club, and suite categories)
• Multi-cuisine restaurant
• Vibrant bar
• Fully-equipped gym
• Rejuvenating spa and salon
• Spacious swimming pool
• Four banquet halls (ranging from 3,200 sq. ft. to 8,000 sq. ft.)
• Dedicated conference area
• 25,000 sq. ft. lawn with tent facility

Strategic Location and Target Market

Ambala, a dynamic city in Haryana bordering Punjab, is rapidly emerging as an important center for tourism and business in North India. The city's strategic location, with excellent connectivity to major urban centers like Chandigarh and Delhi, makes it an attractive destination for both leisure and corporate travelers.

Management's Perspective

Mr. Chander K. Baljee, Chairman & Managing Director of Royal Orchid Hotels Ltd., commented on the expansion: "Ambala is steadily growing as both a travel and business destination, and we're glad to be adding it to our network. At Royal Orchid Hotels, we've always believed in creating quality stays in locations that are still finding their place on the hospitality map."

Mr. Lovepreet Singh, Partner and MD of Marrievilla Resort, expressed enthusiasm about the partnership, stating, "We are excited to join hands with Royal Orchid Hotels in bringing the Regenta experience to Ambala. Together, we aim to deliver exceptional hospitality and create memorable stays for all our guests in this vibrant city."

Company Overview

Royal Orchid & Regenta Hotels is one of India's fastest-growing hotel chains, operating over 110 hotels across the country. The company focuses on 5-star, 4-star, and resort properties, catering to discerning business and leisure travelers. The 'Regenta' brand, an extension of the Royal Orchid Hotel Group, encompasses various categories including Regenta, Regenta Central, Regenta Resort, Regenta Place, and Regenta Inn.

This expansion in Ambala aligns with Royal Orchid Hotels' vision to become the preferred hotel chain for discerning global travelers while also contributing to the development of emerging destinations in India's hospitality landscape.