Royal Orchid Hotels Ltd

- There is no explicit mention of any ongoing or planned new fundraising through debt or equity in the Q3FY24 conference call transcript. - The company has been expanding using internal cash accruals, as indicated in the purchase of a 48.93% stake in a subsidiary for INR 34 crore funded internally. - The focus appears to be on strategic growth by adding hotels and increasing room capacity while managing costs and investments prudently. - No specific announcements or discussions about raising funds via debt or equity were highlighted during the call.

- Royal Orchid Hotels is investing in expanding their owned properties: - Goa resort expansion: adding 40-44 rooms, expected completion by March FY25. - Bangalore hotel: adding 28 rooms, timeline aligned with Goa expansion. - Focus on acquiring bigger hotels to increase average size, as larger hotels have started discussions with Royal Orchid. - No major investments planned in greenfield projects like Lakshadweep or Ayodhya currently; strategy is to watch and wait rather than spread resources thin. - Working on a robust balance sheet through planned and calculated steps including repairs, maintenance, and strengthening the team to achieve operational excellence. - Actively pursuing sale of shares in Multi-Hotels Limited for strategic capital reallocation. - Expansion strategy includes signing and operating 138-140 hotels by March FY25, increasing managed properties with some expected on revenue share or lease models.

- Royal Orchid Hotels targets adding 38 to 48 hotels over the next year, with 1,600 keys already signed and another 700 keys expected, totaling around 2,300 keys. - Focus is shifting towards acquiring larger hotels, which were previously difficult to secure as a smaller player. - Growth strategy includes increasing revenue share and lease agreements, especially targeting larger hotels post-March 2025 for exponential growth. - The company expects revenue for FY24 to reach around INR 350 crores (including Jaipur hotel), with possible upside to INR 400 crores next year. - Managed hotels are expected to contribute significantly to growth, despite thinner margins compared to owned hotels. - Expansion spans across all hotel categories and markets, aiming to increase footprint and diversify portfolio. - Management aims to sustain about 25% top-line growth per annum in the medium term, with focus on stable operations and improved occupancy.

- Royal Orchid Hotels targets revenue growth to INR 390-400 crores next year from existing hotels, with room for additional hotels to increase this further. - EBITDA is expected around INR 110-122 crores, including contributions from associate Jaipur hotel. - Growth in revenue share hotels and managed hotels is key; aiming to add about 38-48 hotels (~2,300 keys) over the next year. - Focus post-March 2025 is on larger hotels, primarily on revenue share basis, to drive exponential growth despite potentially fewer hotels. - EBITDA margin in the managed category is about 50%, with management fees around 6% of hotel revenue. - The company anticipates EBITDA improvement and higher operating profitability through operational excellence and scaling up upmarket brands. - EPS growth is implied with consistent PAT increases (3-13% q-o-q recently) supported by revenue and EBITDA expansion. - Overall, the management expects faster growth trajectory post new brand launches and operational scale-up.

- Currently, Royal Orchid Hotels has around 28 signed hotels totaling approximately 1,600 keys expected to open soon. - In the next 1 to 1.5 months, 6 to 8 of these signed hotels are slated to open; the balance 22 hotels are planned for the following financial year. - Additional 10 to 12 new hotels are expected to be signed during this period. - The company aims to grow its total hotel count to about 138-140 hotels by end of FY25 (March 2025). - Discussions and active scouting are ongoing for larger hotel properties to increase average hotel size. - There is no current focus on greenfield projects like Lakshadweep; the emphasis remains on revenue share and lease models. - The sale of Multi-Hotels Limited shares is actively being pursued, potentially impacting future developments.