Royal Orchid Hotels Plans To Raise Rs.150 Cr To Fund New Projects
Royal Orchid Hotels is planning to raise Rs. 150 Cr through various instruments to fund its new projects.
It is planning to double its room base to 2,000 rooms in the next three to four years from its existing 1097 rooms.
Bangalore based Royal Orchid Hotels Ltd (ROHL) operates and manages a chain of hotels under the brand “Royal Orchid” in India.
Transaction Reference: ET
Royal Orchids operates 13 business & leisure hotels with a capacity of 1097 rooms across seven popular destinations (five in Bangalore, two in Mysore and Pune, one each in Jaipur, Hyderabad, Goa and Ahmedabad).
It plans to commence three hotels in 2010. Of the three, two hotels would be at Hyderabad and Jaipur, while the third one will be at Navi Mumbai. It has a JV with Amartara Hospitality to build a 250 room four star hotel in Powai, Mumbai.
It also has projects underway in Hospet and Shimoga (Karnataka) and Mussoorie.
In December 2007, Royal Orchid acquired a 30-acre beachfront property in Dar es Salaam (capital of Tanzania) for Rs 8 Cr. It plans to set-up a 150-room resort in the country by March 2013.
For the fiscal year 2009-10, Royal Orchid reported a PAT of Rs 6.79 Cr with a consolidated revenue of Rs.121.86 Cr for the same period.
In the hospitality space, Bhagwati Banquets and Hotels is planning to raise upto Rs.150-200 Cr through PE for its upcoming projects. Delhi based Asian Hotels is also looking to raise Rs 250 Cr for expansion and for possible acquisitions in the hospitality sector.
IL&FS Investment Managers invested Rs.80 Cr for a 32.65% stake in Aria Hotels and Consultancy Services, a subsidiary of Asian Hotels (West) promoted by Sushil Gupta.
Malaysian wealth fund - Khazanah Nasional acquired a controlling stake in Aman Resorts from DLF Limited for about $300-350 Mn.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 20/08/10 | Royal Orchids - Fund Raising | IPO / Offerings | - | |
| 25/05/09 | Royal Orchid - Sequoia Capital India Exit | Private Equity | - | |
| 28/12/05 | Royal Orchid - IPO | IPO / Offerings | 24.86 | |
| 04/10/05 | Royal Orchid - Sequoia Capital India | Private Equity | WestBridge Capital | 5.67 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 08/02/12 | Private Equity | Bain Capital Advisors India Private Limited | Barbeque Nation Hospitality Limited | 30.00 | Planned |
| 01/02/12 | Private Equity | CGH Earth | 50.49 | Planned | |
| 30/01/12 | IPO / Offerings | Pride Hotels Limited | 25.30 | Called Off | |
| 30/01/12 | M&A | Sahara Group | Marriott Hotels Inc | 1175.47 | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Royal Orchid Hotels Limited | Chander Baljee & Family Sunil Sikka & Family |
No. 1, Golf Avenue Adjoining KGA Golf Course Airport Road, Bangalore - 560 008 |
Indian Hotels Company Limited Mahindra Holidays & Resorts India Limited Hotel Leelaventure Limited Asiana Hotels Private Limited Taj Gvk Hotels and Resorts Limited Oriental Hotels EIH Limited |
www.royalorchidhotels.com |
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