This multibagger hotel stock tripled investors wealth in 2022, so far; do you own it?

Over the last one and three months, the company's scrip has skyrocketed around 49 per cent & 94 per cent, respectively.

Royal Orchid Hotels Ltd is one of India’s fastest-growing hotel chains. It primarily operates five-star, four-star, and resorts, enabling it to target discerning business & leisure travellers. It currently operates over 72 hotels across India. Promoted by Chander K Baljee, Royal Orchid Hotels has become one of India’s most well-known names in the hospitality sector. 

The company’s shares have been on fire and in the groove in 2022! The stock has furnished mind-boggling returns of approximately 193 per cent year-to-date. Over the last one and three months, the scrip has skyrocketed around 49 per cent & 94 per cent, respectively. On Friday, the company's stock price rallied more than 15 per cent to record a fresh 52-week high of Rs 262.75 on BSE. 

In Q1FY23, the company's total revenue stood at Rs 38.08 crore, up by 64 per cent from Rs 23.17 recorded in Q4FY22. Similarly, EBIDTA jumped 71 per cent on a quarterly basis to Rs 14.53 crore. PAT in Q1FY23 stood at Rs 6.88 crore versus Rs 2.78 crore in the previous quarter.  

Commenting on Q1FY23 results, Chander K Baljee, Chairman & Managing Director, Royal Orchid Hotels via an exchange filing stated, "The first quarter of 2022 has been very fruitful and positive for us on all fronts led by significant improvement in occupancy levels during the quarter across all regions. We reached an occupancy level of 76 per cent during the quarter. I am very optimistic about the future of our company and our industry." 

Keep a close eye on this scrip for the upcoming trading sessions!