Royal Orchid Hotels Ltd

Dear Shareholders,

It is with immense pride and pleasure that I stand before you today as we celebrate 24 glorious years of Royal Orchid Hotels and Regenta Hotels. Our journey from a single property in Bangalore, the IT capital of India, to becoming one of the country's leading hospitality brands has been nothing short of extraordinary. From those early days of setting up our first hotel, far from my hometown Shimla, the thrill of charting an independent course was both challenging and exhilarating. I am certain that many of our young talents, who have recently joined us, resonate with this excitement. I urge each of you to embrace every moment of this journey.

Today, we stand on the brink of an incredible milestone: becoming a 100+ hotel company. With over 6300+ rooms, villas, and suites under our management, we have become a preferred choice for international conferences, business meetings, weddings, and leisure travel alike. Our brand has become synonymous with excellence, reliability, and a personalized touch that sets us apart in the industry. This remarkable achievement is a testament to the hard work, dedication, and innovation of every member of the ROHL family. I extend my heartfelt thanks to each of you for your invaluable contributions.

Our success story is not just about numbers but also about the quality of our growth. In the last fiscal year, Q4 FY24, we delivered outstanding results with a standalone total income of Rs 198.29 crore, an increase from Rs 176.62 crore in the previous fiscal. For the year ending March 2024, our total consolidated income reached Rs 312.69 crore, up from Rs 279.60 crore in the previous fiscal, whereas our consolidate EBITDA for FY24 stood at Rs 95.16 crore. In keeping with our commitment to our shareholders, we also declared a final dividend of 25% for FY24.

In the past year, we expanded our portfolio by adding 20 properties in diverse locations, including Surat, Sakleshpur, Jamnagar, Digha, Puri, Pune, Agra, Phagwara, Kolhapur, Igatpuri, Shogi, Ambala, McLeod Ganj, Morni Hills, Velmore, Vasco, Nellore and even our first international property in Nepal. These additions have positioned us to achieve our goal of managing 125+ hotels by the end of 2024.

Looking ahead to the upcoming fiscal year 2024-25, we have ambitious plans to further accelerate our growth. We are set to inaugurate 24+ new hotels, with exciting new destinations on the horizon, including, Mumbai T2, Gwalior, Pushkar, Statue of Unity, Jaipur, Dapoli, Raipur, Varanasi, Dhule, Bhavnagar, Solapur and our two new international venture in Nepal. This strategic expansion not only enhances our presence in key markets but also strengthens our brand's appeal across diverse geographies.

Our journey has not been without challenges. The pandemic tested our resilience, but it also reaffirmed our vision and strategy. We navigated those turbulent times by embracing innovation and digitization, allowing us to stay ahead of market trends and continue our growth trajectory. Today, digital transformation remains at the core of our business model, and we are leveraging emerging technologies like AI, ML, and the Metaverse to enhance guest experiences and operational efficiency.

As we move forward, sustainability and ESG (Environmental, Social, and Governance) principles will be at the forefront of our strategy. We must be mindful of our environmental impact, particularly in the face of climate change. Our hotels are committed to reducing waste, conserving water and energy, and implementing eco-friendly practices across our operations.

Hospitality is not just a business; it is a vital part of India's economic fabric, contributing significantly to GDP and job creation. As we continue to grow, we must remember that success is a product of action, innovation, and collective effort.

In closing, I want to express my deepest gratitude to all our stakeholders and shareholders for their unwavering support and belief in our vision. Together, we will continue to push boundaries, set new benchmarks, and achieve even greater heights.