Royal Orchid Hotels went up to an intraday high at Rs.86.50 from its closing price of yesterday at Rs.82.35. Its 52-week high is at Rs.93.10.
The stock price reacted positively to the news that it has opened five new properties.
Of this, two hotels are under the brand name of Regenta Inn, one each in the names of Regenta Place, Regenda Central and Regenta Resort.
These hotels were opened in various destination across India. Two hotels in Amritsar, one in Sampbalpur and one in Somnath. The group also opened one leisure property in Kabini, Karnataka.
Commenting on the new launches, Mr Chander K. Baljee, Chairman & Managing Director said, “Despite several challenges and volatility faced during the last 16 month, ROHL has been growing from strength to strength. The addition of 5 new hotels into our group will further bolster our portfolio, add revenues and increase profitability in the years to come. We remain steadfast and focused on our goal to reach the milestone of 100 hotels by the end of 2022. I’m confident that in the months and years to come we will continue to grow at a phenomenal rate and reach greater height’s”.