**Business Performance:** Royal Orchid Hotels reported robust Q3 FY26 performance.

Consolidated revenue grew 24.3% YoY to ₹117.9 Cr, with Income from Operations up 26.6% YoY to ₹113 Cr.

EBITDA increased 13.8% YoY to ₹34.8 Cr.

Room nights revenue surged 45% YoY, and occupancy held at 68% for managed and JLO hotels, with rising Average Room Rates (ARRs). For the nine-month period (9M FY26), revenue hit ₹287.5 Cr (+14.6% YoY). Net Profit (PAT) declined to ₹9.6 Cr (Q3) and ₹25.1 Cr (9M), primarily due to increased notional depreciation and finance costs from IND-AS accounting standards. **Growth & Strategy:** Royal Orchid is aggressively pursuing an asset-light expansion model through management contracts and franchising.

Their ambitious Vision 2030 aims for 345+ hotels and over 22,000 keys, a significant jump from current figures.

A new tech-driven 'Regenta Rewards' loyalty program is set to enhance guest engagement and boost revenue. **Recent Developments:** ICONIQA Mumbai, a key property, generated ₹17.4 Cr in Q3 and quickly became Trip Advisor's top-rated hotel in the city.

Four new hotels (263 keys) were added in Q3 across key locations like Khatu Shyam, Bhuj, Goa, and Ahmedabad, with 47+ additional hotels in the pipeline. **Management Outlook:** Management emphasizes disciplined capital allocation, operational efficiency, and strategic expansion in high-growth markets for sustainable long-term value.